FOR IMMEDIATE RELEASE
Through LinkSquares Contract Analysis and Reporting Software, DraftKings Has Adeptly Handled Their High Pace of Growth
Boston, MA – April 10, 2017
DraftKings, the leading provider of 1-day fantasy sports, has experienced significant growth since their founding in 2012. Raising almost 800 million dollars so far in venture capital, the company has grown their in-house legal team to 10 people. That number is expected to increase as they work towards their recently announced merger with fellow fantasy sports site, FanDuel.
While this rapid growth is welcomed, DraftKings needed a solution to manage their agreements and contracts that would help keep their legal team and other company departments, like finance and marketing, on the same page. They were relying on existing tools such as shared drives and spreadsheets, which were failing as their growth scaled past 400 employees.
DraftKings was looking for a way to get all critical information centralized so it could be accessed by teams and easily reviewed. They had looked at several products in the market but found most involved long implementation cycles and change management to their existing process. The team found the LinkSquares contracts solution to be intuitive and easy to get up and running quickly without any process change, a major factor in their evaluation and decision.
Tim Parilla, DraftKings General Counsel, is grateful to LinkSquares for providing a solution that was simple to adopt.
“We are really excited to be working with the team at LinkSquares. Thanks to the ease of implementation and use of the product, we were able to get up and running in several weeks while other providers were talking about needing 12 to 18 months before full implementation would be possible.”
DraftKings sees their partnership with LinkSquares as an important investment that will continue to pay dividends. With continued growth expected in the foreseeable future, the company recognizes the invaluable asset LinkSquares provides and knows their contract management solution will help them reduce cost and risk for years to come.
DraftKings Inc. is the world’s leading skill-based Daily Fantasy Sports (DFS) platform that allows fans in North America and the UK to compete in single-day, online fantasy sports contests across the largest variety of professional sports like football, basketball, soccer, golf, NASCAR, hockey, baseball, and MMA.. DraftKings’ premier web-based and mobile technology brings a more engaging interactive experience and daily excitement to the pastime of fantasy sports.
LinkSquares Inc. is a web application for teams to automate the search and reporting process around company contracts, replacing current manual contract review processes that are time consuming, inefficient, and create legal risk. By using LinkSquares technology companies can eliminate the manual review of contracts one by one, automating the process of searching and reporting for legal projects, audits or other diligence. The platform cuts contract review time by 70%, saving customers hundreds of hours per year.
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