Kinectify, an AML risk management technology company for the North American gaming industry, has announced that it has raised a preferred Series Seed round.
The strategic investment was co-led by OpenBet, Acies Investments, and the Eastern Band of Cherokee Indians, and will help Kinectify scale its offering to its clients.
Also taking part in the funding round were Eilers & Krejcik Gaming and prominent gaming industry individuals and executives such as Fifth Street Gaming’s CEO Seth Schorr and CSO Seth Young; industry veteran venturer and investor Quinton Singleton; Wagr’s Chief Compliance Officer & Head of Operations Lauren Lemmer; and The Strategy Organization’s management team.
“We are excited to partner with such seasoned strategic investors from inside gaming including suppliers and operators with deep expertise like OpenBet, Acies Investments, and EBCI,” commented Joseph Martin, CEO of Kinectify.
“This investment will accelerate our mission to provide an all-in-one solution for gaming risk management.”
R Scott Barber, CEO of EBCI Holdings, LLC, said: “EBCI is proud to be participating in Kinectify’s latest investment round. Kinectify has been a great partner and we are excited to launch its platform at our Caesars Southern Indiana property and future locations.”
Kinectify notes that its modern AML platform “empowers clients in the gaming industry to efficiently manage their risk with real-time intelligence” allowing them to focus on growing their businesses.
The company’s advisory services also help clients by providing industry experts who can design and test programs, help meet compliance deadlines, and allow customers to outsource the day-to-day administration of their compliance programs.
“We have been impressed by Kinectify’s team and product which fills a long-standing need in the gaming industry,” stated Jordan Levin, CEO of OpenBet.
“As the company continues to innovate and change the compliance industry, we’re thrilled to partner with them as they capitalize on the sizable market opportunity ahead.”
Edward King, Co-Founding Partner and Co-CIO of Acies, added: “We are excited to partner with Joseph and the Kinectify team who have created an exceptional AML and compliance platform that addresses mission-critical services for both the land-based and mobile gaming ecosystem.
“We firmly believe Kinectify’s position in the market is unique and delivers truly valuable technology to its clients.”
Last month, Martin spoke to SBC, breaking down how Kinectify is becoming a hub at the intersection of technology and compliance as it seeks to remedy any regulatory headaches for igaming operators across North America.
