Betsperts closes $6 million Series A fundraising round | Yogonet International
The owner of sports betting and fantasy sports apps will invest in growing userbase, look at strategic acquisitions

Betsperts closes $6 million Series A fundraising round

“We want to be where the social conversation lives for fantasy sports and sports bettors as more states and provinces legalize sports gambling,” said Betsperts CEO Reid Rooney.
2021-08-26
United States
Reading time 1:45 min
The group now welcomes new investors including Series A lead HBSE Ventures, and Verance Capital. Betsperts Media & Technology Group, which earlier this year acquired ESPN Senior Fantasy Analyst Matthew Berry’s Fantasy Life App, expects the capital to allow to invest into marketing technology and more content. The group also expects to surpass one million lifetime downloads shortly into the 2021 NFL season.

Betsperts Media & Technology Group has reported the closing of a $6 million Series A fundraising round, CEO Reid Rooney announced on Thursday.

On the announcement, Rooney said: “This capital gives us the opportunity to heavily invest in growing the userbase with investments into marketing technology, more content, and continues to allow us to look at strategic acquisition opportunities.”

By having concluded this round, the group now welcomes new investors including Series A lead HBSE Ventures, which owns and operates the Philadelphia 76ers and the New Jersey Devils; and sports, media and live entertainment-oriented Verance Capital.

On the announcement, Andy Roos, Partner at HBSE Ventures, said: “HBSE Ventures is excited to support Betsperts in their next phase of growth, as they aim to become the social network for sports betting and fantansy sports.”

Despite bettors and fantasy players having “no shortage of outlets,” Roos believes there is a strong need for a solution “that cuts through the noise” and provides access to the best content, both user generated and from recognized experts.

“Betsperts will leverage this content to attract consumers across its complementary platforms and take advantage of the explosive growth the sector is experiencing,” further added Roos.

The latest fundraising round has also seen previous investors return, including Parlay Capital Holdings, LLC, Velo Partners, David VanEgmond (current Founder and CEO of Bettor Capital), among others.

The company, which includes among its operations Betsperts app and livestream media content, expects to further expand its sports betting and fantasy sports audiences in the US. Moreover, the group expects to surpass one million lifetime downloads “shortly into the 2021 NFL season.”

Most recently, on May, Betsperts acquired ESPN Senior Fantasy Analyst Matthew Berry’s Fantasy Life App, expected to further extend the group’s reach. On what is next for the group, Rooney added: “We want to be where the social conversation lives for fantasy sports and sports bettors as more states and provinces legalize sports gambling.”

Leave your comment:
Subscribe to our newsletter
Enter your email to receive the latest news