Novig has secured an $18 million Series A funding round led by Forerunner, with participation from Y Combinator, NFX, Perceptive Ventures, and Gaingels. The company was founded to create a true peer-to-peer sports prediction marketplace, enabling participants to trade directly with one another rather than against the house. Inspired by the efficiency of political prediction markets and frustrated by outdated sportsbook models, Novig set out to deliver transparent, fair, and dynamic markets where winning is rewarded rather than penalized.
Since launching in September last year, Novig has experienced nearly a 100x increase in monthly trading volume for both Novig Coins and Novig Cash, surpassing $2 billion in annualized Novig Cash volume. More than 90% of trades are now fully peer-to-peer, a shift from early stages when the platform provided liquidity. Organic community growth, strong retention rates three times higher than industry peers, and risk-free access through complimentary Novig Coins and Novig Cash have fueled rapid adoption.
Recent product expansions include the addition of five new sports — such as golf, tennis, and combat sports — along with over 25 new market types, including futures and thousands of daily props. Development plans focus on introducing additional payment methods, launching a full-featured web application, expanding into more sports and categories, and adding social features like leaderboards and group contests.
The Series A funding will accelerate team growth, broaden market coverage, and advance transparency within the industry. As more sports fans seek innovative, engaging, and equitable ways to make predictions, Novig is positioning itself as the leading choice for price, product quality, and market variety in the U.S. sports prediction sector.