Sports betting marketplace WagerWire has confirmed the close of its $3m funding round as it aims to bring its platform ‘to the masses’.
Boosting WagerWire’s long-term ambitions, the funding round was led by Roger Ehrenberg, co-owner of MLB outfit Miami Marlins and Premier League soccer club Leeds United FC.
WagerWire’s platform allows bettors to profit off real-time line movements and momentum swings by buying and selling bets via either the firm’s marketplace or its sportsbook partners.
The firm’s CEO Zach Doctor commented: “Now your bet no longer has to win to make you money. People want more control over their betting journey, and the WagerWire marketplace gives them the ability to flip bets like they would a stock on Robinhood, or a pair of Jordans on StockX.
“We’re thrilled to have such a prolific syndicate in our corner as we bring this product to the masses.”
Ehrenberg completed the investment via his venture funds IA Sports Ventures and Eberg Capital. Furthermore, Cardinal Sports Capital is a key investor through its new accelerator program with HPL Digital Sport.
As well as the vastly experienced sports club owner, investors in the £3m round includeSimpleBet founder Joey Levy’s 305 Ventures, Full Moon Sports Solutions, Sports Meta, former NJ DGE Deputy Director George Rover, law firm Cooley LLP, and early investors in Palantir, Canva, and Tesla.
Talking about his investment, Ehrenberg added: “As sportsbooks search for cost-effective acquisition and retention strategies, WagerWire is a new solution to create a more engaging and social experience for bettors.
“The WagerWire team has a clear vision about how to harness core economic principles in order to create a flywheel effect that drives value for both bettors and sportsbooks.”
