Technology firm Snapscreen has announced a $1.2m seed funding round led by New York based VC Sharp Alpha Advisors.
Snapscreen is the inventor and exclusive operator of SnapOdds, a B2B computer vision technology product that solves customer acquisition challenges for the sports betting industry.
Sports betting and sports media apps that integrate the SnapOdds software development kit will enable users to point their smartphone at any live sporting event, on TV or streaming, and instantly be served all of the betting odds relevant to that game.
The technology is powered by a proprietary video recognition engine that can determine the sporting event being broadcast using a single frame or image. The SnapOdds SDK can be seamlessly integrated into native iOS and Android apps as well as web apps.
Lloyd Danzig, Managing Partner of Sharp Alpha Advisors, stated: “Sportsbooks are struggling to minimize sign-up frictions and better facilitate in-play wagering. SnapOdds provides a turnkey B2B solution that helps operators and media platforms optimize engagement and retention.”
Thomas Willomitzer, Founder and CEO of SnapScreen Inc, added: “SnapOdds helps operators drive user acquisition and enables media platforms to optimize affiliate conversions by delivering a turnkey user experience that sports bettors find both novel and highly useful.”
The 2021 launch of SnapOdds was met with significant attention and interest from sports betting operators, technology suppliers, and related media networks. The company has already secured a first customer, Stations Casinos in Las Vegas, through the Miomni.com network, a leading provider of white label gaming solutions and casino software.
“The seed round was over 2.5x oversubscribed and includes highly strategic investors from the gaming industry,” noted Willomitzer. “We are very encouraged by the validation provided by this financing.”
Willomitzer also announced that industry expert Benjie Cherniak is one of the advisors to the company.