Oddin.gg has announced the conclusion of its Series A financing round, during which the company raised $4.5m from current investors, as well as from new backers Velo Partners and Genting Ventures.
The B2B esports odds feed, risk management and iframe provider stated that the funds will be used to reinforce its place in the global esports betting market and facilitate growth in new verticals.
Oddin.gg offers operators “a 360° approach” towards esports betting, providing everything they need to set up their operations, including data visualizations, marketing, odds feed, risk management, and iframe.
“On behalf of the entire Oddin.gg team and myself, I am proud of everyone involved,” commented Vlastimil Venclik, Co-Founder and CEO.
“First of all, we want to thank our clients and partners who share our vision and who have made our growth possible. At the same time, we feel fortunate to work with our investors and to see this investment helping us to scale.
“This round will help us to continue enjoying our exponential growth and development of new services that will cement our position as a leader in the industry. I want to thank all our partners for their trust, and we will work tirelessly on our vision to justify it.”
The Series A funding round follows Oddin.gg recently launching its services in New Jersey and sealing partnerships with Esports Entertainment Group and SB22. The provider also has applications for licenses in other US states and Ontario, Canada.
The firm also had another successful seed round in early 2020, in which it raised $1.2m.
“We are impressed by Oddin.gg’s technology with class-leading metrics for esports betting,” stated Genting Ventures.
“From an industry standpoint, we see the dynamic potential of esports, and identify Oddin.gg as a key player offering top-tier data and service for its partners in the competitive gaming space.”
Velo Partners added: “We were immediately impressed with Oddin’s best-in-market esports odds products, as well as their broader strategy of building an esports ecosystem to service all of their customers’ esports needs.
“We look forward to being a part of this compelling growth story in the coming years.”