Betsperts Media & Technology Group CEO Reid Rooney has confirmed that the company closed a $6m Series A fundraising round this week.
Between Betsperts app, Fantasy Life App, and its livestream media content, the firm claims to have one of the largest sports betting and fantasy sports audiences in the US, with expectations of surpassing one million lifetime downloads shortly into the 2021 NFL season.
This latest round includes new investors including Series A lead HBSE Ventures and Verance Capital. Andy Roos, Partner at HBSE Ventures, said: “HBSE Ventures is excited to support Betsperts in their next phase of growth, as they aim to become the social network for sports betting and fantasy sports.
“Sports bettors and fantasy players have no shortage of outlets, but we believe there is a strong need for a solution that cuts through the noise and provides access to the best content, whether user generated or from recognized experts. Betsperts will leverage this content to attract consumers across its complementary platforms and take advantage of the explosive growth the sector is experiencing.”
Also in this fundraising round are previous investors such as Parlay Capital Holdings, LLC, Velo Partners, David VanEgmond (Current Founder and CEO of Bettor Capital, and various other angel investors.
Outlining how the funding will be used, CEO Rooney said: “This capital gives us the opportunity to heavily invest in growing the user base with investments into marketing, technology, more content, and continues to allow us to look at strategic acquisition opportunities. We want to be where the social conversation lives for fantasy sports and sports bettors as more states and provinces legalize sports gambling.”