End-to-end sports gaming technology platform Betcha has raised $4m in angel financing this week, including a new extension led by industry leaders Matt Davey, Eyal Shaked, Benjie Cherniak, Sandford Loudon and Sean Hurley. They join prior investors Sinai Ventures and Muse Capital.
Betcha has reimagined real-money sports gaming as an immersive entertainment experience. Its next generation Daily Fantasy Sports app, available on iOS and Android, includes simple player props enhanced by social and gamification features driving what it describes as “industry-leading unit economics, broad fan reach and strong network effects”.
The company’s internally developed tech stack includes a proprietary Player Account Management (PAM) module that integrates into its own DFS platform with robust compliance capabilities all designed for extensibility to sportsbooks and casinos.
Shaked, a Betcha investor and Founder of 888 Holdings, commented: “I’m impressed by Betcha’s transformative vision for digital gaming combined with their ability to execute on bootstrapped resources to date.
“While Betcha has gone to market with a disruptive consumer gaming experience, they’ve also built a best-in-class tech platform that enables the ability to cut out expensive third party revenue shares.”
The Betcha DFS app offers player props, like will LeBron score more or less than 28.5 points, across traditional sports and eSports, with a social feed of picks, odds boosts for playing alongside friends and weekly leaderboards for cash prizes.
The app has a hybrid real-money and free-to-play model, with real money action reaching a majority of the US population including big markets like California, Florida and Texas.
According to the firm, it has achieved compelling viral growth with 80% of users joining via word-of-mouth or friend referrals, driving low customer acquisition costs coupled with high engagement from users.
“Betcha has turned making picks on games into its own gaming experience,” said Jason Shapiro, the company’s President. “Our simplicity, social features and Peloton-esque gamification appeals to a broad range of sports fans.”
He added: “This funding marks a significant milestone for our team and we look forward to enhancing our offering with additional sports and features.”
“I love the Betcha team,” said Cherniak, Principal at Avenue H Capital and former Managing Director of Don Best Sports, which was acquired by Scientific Games. “Hanson Wong, Brett Schlussman, and Jason Shapiro collectively tick all the boxes – gaming industry experience, previous technology startup with a successful exit, Ivy League pedigree and entrepreneurial drive.
“Moreover, Betcha differentiates from the competition via proprietary technology so as to facilitate integrations like a shared wallet with a sportsbook and casino. The building blocks to success are in place.”