Betsperts closes Series A fundraising round
HBSE Ventures, Verance Capital lead list of new investors in sports betting company.
Betsperts Media and Technology Group on Thursday said it has closed a $6 million Series A fundraising round.
The company operates the Betsperts app, the Fantasy Life App, and it offers livestream media content, collectively giving it one of the largest sports betting and fantasy sports audiences in the US.
CEO Reid Rooney said the Betsperts Group expects to surpass 1m lifetime downloads shortly into the 2021 NFL season.
The just closed round includes new investors to the company, including Series A lead HBSE Ventures and Verance Capital.
“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 fantasy sports,” Andy Roos, partner at HBSE Ventures, said in a statement. “Sports bettors and fantasy players have no shortage of outlets, but we believe there is a strong need for a solution that cuts through the noise and provides access to the best content, whether user-generated or 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.”
Also in this fundraising round are previous investors such as Parlay Capital Holdings, LLC, Velo Partners, David VanEgmond (founder and CEO of Bettor Capital), and various other angel investors, the company said.
On May 26, Betsperts acquired the Fantasy Life App from Matthew Berry, ESPN’s senior fantasy analyst. Rooney said the infusion of new capital gives the company 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.”
“We want to be where the social conversation lives for fantasy sports and sports bettors as more states and provinces legalize sports gambling,” Rooney added.
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