$795M financing round closed

Benjie Cherniak and Chris Grove invest in Parleh Media, target sports betting boom

Parleh TV is a sports-first media platform.
2021-11-11
Reading time 2:03 min
The Canadian sports-oriented media group added the two gaming industry experts as investors in an effort to extend its presence in Canada and the US. The company says viewership for its products has increased since launch, especially within its daily picks segments.

Sports-oriented digital media and content production company Parleh Media Group has added sports betting industry experts Benjie Cherniak and Chris Grove to its investors. The Canadian business also announced the completion of a $795.4 million pre-seed financing round.

The creators of The Parleh and Parleh TV, which offer sports enthusiasts betting news and insight, said in a press release that the commitment by the Las Vegas-based industry experts further cements the company “as a rising media presence” in both Canada and the US.

Parleh Media Group revealed that Cherniak, who is familiar with the role of data and media content to support sportsbooks, will also serve as an advisor to the company. As Managing Director of Don Best Sports, which sold to Scientific Games in 2018, he forged tier-one operator partnerships across The Americas, Europe and Asia.

“The Parleh has launched at a pivotal time as the regulated Canadian market plans to open in the coming months,” said Cherniak. “I see parallels between The Parleh’s journey to that of Don Best, and am thrilled to support the founders in expanding the business beyond Canada.”

Meanwhile, Grove, an investor and entrepreneur with experience in the only gambling media space, is a partner at Eilers & Krejcik Gaming. His portfolio spans many of the fastest-growing startups in the North American sports betting and online gambling market.

According to the media company, just a few months since launch, viewership and demand for content from The Parleh is “growing exponentially” across its digital platforms and through its distribution partners. 

Viewers have been especially engaged with Parleh’s daily picks segments, “where they get fun and entertaining” insights on games across a series of leagues, including the NFL, NBA, NHL, MLB, EPL, as well as the world’s largest sporting events.

“The rise of open and regulated sports betting markets has created a once-in-a-generation disruption in the business of sports and media,“ said Mark Silver, Founder at Parleh Media Group. “Having Benjie and Chris, two highly-respected leaders in the sports betting industry, invest in Parleh Media Group and also helping us on our journey is validation that we’re on the right track.”

Going forward, Parleh Media Group is set to continue creating new sports verticals. Parleh TV Toronto launched in October, thus becoming “the city’s first dedicated multi-sport news and information” TV channel. It is available for free online 24/7.

“I met The Parleh founders soon after it launched, and quickly recognized how their brand of sports betting content could potentially fill a void for sports fans,” said Grove upon his announcement as an investor. “Watching as they paired that potential with impressive execution across acquisitions and organic growth initiatives convinced me to back this management team.”

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