FANDUEL, the fantasy sports league provider, has raised $70 million (£42.9 million) in its latest round of private equity funding.

The injection brings the total capital raised by the company to $88m, with the firm having pulled in $11m in its previous round last January.

The new funding will be used to boost staffing numbers in Edinburgh and New York, between which it currently has 106 staff.

FanDuel, which runs fantasy leagues in sports such as American football basketball, ice hockey and baseball, has also pledged to continue introducing new products and features for its customers in North America.

Shamrock Capital Advisors has led the fourth stage for funding in the company, with new investment also coming in from NBC Sports Ventures and KKR.

FanDuel, which was founded in Edinburgh in 2009 and is now headquartered in New York, has also attracted further funding from existing investors, including Scottish Enterprise and Edinburgh-based Pentech Ventures.

Comcast Ventures, Bullpen Capital and Richard Koch are among other existing investors taking part in the latest round.

FanDuel chief executive Nigel Eccles said: "This level of investment from Shamrock, NBC Sports, KKR and our existing investors is a testament to FanDuel's leadership in the one-day fantasy sports industry and the growth potential within this space.

"We couldn't be more pleased to be able to make this announcement at the start of the football season, as more users begin to embrace the one-day fantasy experience."

The fresh backing gave a timely boost to the company, as the announcement coincided with the start of the NFL season.

With the company stating this season will be the biggest for fantasy sports yet, it hopes to reach a wider audience than ever before.

It is estimated that fantasy sports are played by 41 million people, with FanDuel now accounting for 65 per cent of the daily and weekly fantasy sports market.

The company, whose games are exempt under online US betting laws, expects to pay out more than £400m to players this year.

In contrast to traditional fantasy sports, where league winners are declared after a season ends, FanDuel leagues can last as little as one day, with prizes paid out immediately.

Shamrock Capital Advisors' partner Mike LaSalle and principal Alan Resnikoff have joined the board of FanDuel, further to the deal, while Rick Cordella at NBC Sports Group, has been brought in as a board observer.

Mr LaSalle said Shamrock was motivated to help FanDuel to "accelerate their already explosive growth".