Simplebet, the micro-betting-focused technology company, has today confirmed new strategic equity financing worth $30m from Anti Fund, led by media mogul and professional boxer Jake Paul and entrepreneur Geoffrey Woo.
BAVAFA Sports Founder Nakisa Bidarian has joined Anti Fund as an Operating Partner and is co-leading the investment which will be used to accelerate consumer adoption of micro-betting.
Bidarian is founder of BAVAFA Sports, former CEO of Fertitta Capital, where he led an investment into The Action Network, and CSO/CFO of the UFC. Woo and Bidarian will join Simplebet’s Board, as Director and Board Observer, respectively.
This latest investment will bring Simplebet’s total capital raised to $80m, which has come from a group of prominent sports, media, and technology investors including global games powerhouse Aristocrat, the San Francisco Giants MLB team, and notable individuals including Jim Murren, Howard Schultz, David Blitzer, Jeff Mallett, David Levy, Mario Gabelli, and Andre Agassi.
Chris Bevilacqua, Co-Founder and CEO of Simplebet, stated: “In a world where capital is increasingly becoming a commodity, it was important to us that our next capital partner play a direct role in accelerating revenue and distribution.
“We couldn’t be more excited to work with Jake, Geoffrey, Nakisa and the entire Anti Fund team who will support our efforts to accelerate the mainstream adoption of micro-betting across the US.
“This infusion of capital will further solidify our position as the technology company that will power the future of live sports as we redefine the intersection of sports, gambling, media and technology.”
Paul added: “Geoffrey and I founded the Anti Fund to create a space for high-growth companies like Simplebet to make an impact throughout the industry, and we’re thrilled to help them achieve the success they deserve. I’m also excited for the team to be joined by Nakisa, who has the expertise and knowledge base that will push the company even further.”
The funding will also be used to enhance and expand the company’s existing NFL, MLB, and NBA products, launch new sports, introduce new subcategories of micro-markets such as Scripts, expand engineering resources to enable more efficient customer integrations, and explore other strategic opportunities.
Woo noted: “Micro-betting is the new frontier and we created the Anti Fund to service exactly these kinds of companies, who are pushing the boundaries towards what can be possible. With the powerhouse team of Jake and I, alongside Nakisa, we look forward to the important work to be done alongside Simplebet’s incredible team.”
“There is a tremendous intersection between betting and media that Simplebet has identified and filled, and I look forward to working with their team and helping lead them towards their full potential,” said Bidarian. “The betting industry is evolving, and when you combine Simplebet’s innovation with Jake’s platform and reach you have the perfect recipe for success.”
Simplebet has developed the technical infrastructure to enable micro-betting, introducing instant gratification to the sports betting user experience by enabling moments within sporting events to become discrete betting and engagement opportunities. The company enables sports betting operators, media companies, and technology companies to enhance live sports by offering engaging experiences in real-time with its proprietary technology platform.