Voxbet, the developer of software that allows customers to speak or type their bets, has secured strategic funding from a group of international investors led by Matt Davey and Tom Waterhouse.
This key investment arrives courtesy of Davey’s investment vehicle, Tekkorp Capital, alongside Waterhouse’s investment fund, Waterhouse VC. The former also leverages the expertise and experience of two senior former Fox Bet and William Hill executives in Robin Chhabra and Andy Clerkson.
The financing will be used to drive Voxbet’s growth internationally, supporting the rapid development of its proprietary natural-language technology, across both voice and text services, and bolstering its product roadmap over the coming 12 months.
Davey, acknowledged as one of the industry’s most astute investors and dealmakers, having overseen more than 10 mergers and acquisitions, stated: “At Tekkorp Capital, we provide a natural habitat for transformative, high-growth igaming businesses.
“We’ve observed Voxbet’s impressive development, but have been particularly impressed with their recent strides in the field of speech recognition and natural-language processing, which afford them a material head start in this rapidly evolving industry.
“I expect they will continue to improve and consolidate their existing product offering for geographical expansion. These transformative steps cohere with our own vision around the catalytic power of tech in digital sports betting.”
Waterhouse, who founded Waterhouse VC to leverage the advantages of his past 20+ years of industry experience, added: “The Waterhouse VC Fund aims to generate capital growth by holding long-term strategic investments in companies that can truly shape the future of the sports betting industry. Voxbet’s technology immediately improves and delivers a step change in the UX for international customers, so their credentials leapt off the page.”
Jonathan Power, Founder of Voxbet, noted: “We’re thrilled to be joined on our journey by such excellent company. In leveraging their collective understanding and expertise, alongside an extensive network of long-standing relationships, Voxbet is instantly better-placed to strategically identify and execute on our next important steps.
“The team’s members have been involved in some of the most defining and instructive transactions in the sector, invariably creating significant shareholder value in the process. Naturally, they bring invaluable advisory acumen beyond their respective investments.”