Underdog Climbs to Third on LinkedIn Top Startups List

Emerging betting brand Underdog has made an impressive leap into the national spotlight after being ranked No. 3 on LinkedIn’s Top Startups 2025 list — climbing from 15th last year. The list, which once featured now-household names like Uber, Airbnb, and DoorDash, has become a reliable signal of rising companies destined for major impact across industries.

Good to Know

• Underdog reached a $1.3B valuation and expects $500M in annual revenue this year
• The company is live in 40 U.S. states, Washington, D.C., and much of Canada
• It became the first operator in the U.S. to launch sports prediction markets

Founded in 2020 and headquartered in Brooklyn, New York, Underdog has quickly grown into one of the most influential names in sports gaming. What started as a fantasy sports app has evolved into a full-scale entertainment platform that mixes daily fantasy contests, real-money wagering, and interactive fan experiences.

Jeremy Levine, founder and CEO, credited Underdog’s rise to a sharp internal focus and a strong team culture.

“We got here through a relentless, simple focus: people and product,” said Levine. “Our belief is if we have the best people and build the best products, we can build the biggest company in the space — and we are on our way.”

Breaking New Ground in Sports Gaming

In just five years, Underdog has crossed unicorn status with a $1.3 billion valuation, partnered with pro teams like the NHL’s St. Louis Blues, and teamed up with athletes such as Bryson DeChambeau. These partnerships help the company blur the line between sports betting, fandom, and community-driven entertainment, reaching users both online and in person.

Levine said 2025 has been a year that proved Underdog’s model works even through market turbulence.

“This year, with all the incredible disruption the industry has faced, has been more proof of concept, as we have the ability to create innovative offerings with speed and scale to take advantage of opportunity,” he said. “We’ll hit nearly $500 million in revenue in 2025, our fifth full year.”

Underdog recently reached the top spot in Apple’s App Store in the free sports category, ahead of giants like FanDuel and DraftKings. The company’s app now serves as both a game hub and a social space for fans to make predictions and compete in real time.