Boom Entertainment, the creator of NBC’s Sports and Tim Horton’s’ NHL Hockey Challenge, has today announced that the company has raised $15m in Series A funding to aid in the group's expansion into real-money gaming products.
Leading this round of funding is Sands Capital, an investment company with stakes in Amazon, Netflix and Nike. The company also holds shares in Entain and worked as previous shareholders of Las Vegas Sands.
"Boom is in an enviable position as the premier provider of technology and games in an industry that is both rapidly expanding and increasingly in need of product differentiation," said Scott Frederick, partner at Sands Capital. "Boom offers the entire continuum, from mass-casual free-to-play gaming products to fantasy sports to online casino and sports betting games. They are the go-to partner for any company looking to maximize their opportunity in this category."
Other investors include Golden Nugget Online Gaming, Rush Street Interactive, TEGNA, Bettor Capital, Velo Capital, Alpha Bridge Ventures and Heatwave Partners. Further funding has been received from the owner of the New England Patriots, Robert Kraft and former MGM Resorts International CEO Jim Murren.
"Sports fans and casino players are craving something more – new products and new games that will transform how they consume sports and how they are entertained," said Stephen A. Murphy, co-founder and CEO of Boom Entertainment. "With this capital infusion, we will redefine what real-money gaming looks like by introducing new ways to bet on sports and new experiences for players."
This funding will primarily be utilized to grow the company’s real-money casino and sports betting offerings. Later this month, Boom will reveal its first slew of casino games and soon after launch its proprietary sports betting platform.
