Quarter4, the AI-driven predictive sports data and analytics provider for sports, media and betting companies, has announced the closure of its seed funding round, raising $1.6m.
The funds will be used to acquire strategic talent to expand the firm’s technical and sales teams. The company plans to double its headcount by the end of 2021.
Quarter4 is currently using deep learning neural networks to grow its proprietary AI technology. In addition to acquiring talent, the funding from this round will aid in the technological expansion of its B2B services, including doubling its predictions to two million per day by September 2021, which will incorporate NFL forecasts.
The company’s technology team is also expanding its data reporting capabilities to include predictive probabilities for live in-play betting and odds and market analysis.
The round was led by Shore Capital Sports & Entertainment, an advisory and investment firm with offices in Toronto and New York. As part of its strategic investment, Shore Capital Sports & Entertainment will also take an active role assisting Quarter4 with business development, strategic partnerships as well as financial advisory services.
Scott Secord, Managing Partner, will also join the Board of Directors for Quarter4. He is the former President/CEO of Gaming Nation Inc, a publicly traded company on the TSXV, which was acquired in 2018 by a private equity firm.
He commented: “Quarter4’s technology is exciting because it spans across the sports landscape providing incredible data and rich insights for sports betting, sports media and sports broadcasting companies.
“The opportunities in the sports and gaming industry seem limitless, but we understand that the strength of this market lies in the quality of the data powering the industry. Our investment in Quarter4 shows our commitment to continually improving how data is delivered to sports companies across the globe.”
Terry McInally, Chief Compliance Officer of Gateway Casinos and Entertainment, will join Secord on the Quarter4 Board of Directors. He previously served as Partner and National Gaming Practice Leader at Richter Advisory Group, the National Gaming Practice Leader for PwC and an executive at the Alcohol and Gaming Commission of Ontario (AGCO).
Kelly Brooks, Co-founder and CEO of Quarter4, stated: “We’ve seen exceptional demand for our market-leading analytics in the past year. Sportsbooks and gaming companies, sports leagues, technology and data providers as well as broadcast and media partners need valuable data to make smarter decisions and create richer content for their respective audiences.
“This investment allows us to scale our capabilities and work directly with leading partners like Scott and Terry to create cutting edge technology solutions to continue to shape the global gaming industry.”