In an effort to accelerate growth, an additional funding round has been announced by Xpoint Technology, a geolocation technology company specializing in sports betting, iGaming and daily fantasy sports (DFS) operators in North America.
The company landed new investors which include Acies Investments, The Raine Group and SuRo Capital Sports. Previous investors Bettor Capital and Courtside Ventures increased their funding.
Xpoint CEO and Co-Founder Marvin Sanderson commented: "We’re honored to have Acies Investments, The Raine Group, and SuRo Capital Sports join Bettor Capital and Courtside Ventures as investors in Xpoint.
"This news comes at an exciting stage of our growth and development, and these new funds will serve to accelerate our efforts to service the regulated North American online gambling market."
An additional caveat of the investment round will see Bettor Capital Managing Partner David VanEgmond added to the board of directors for Xpoint.
VanEgmond added: "We’re thrilled to double down on our support of Xpoint as the company accelerates its product roll-out.
"We know how critical regulatory and compliance technology is in this industry and have seen how XPoint’s best-in-class software provides significant value to its sportsbook and casino operator clients."
Xpoint is licensed and regulated across several North American jurisdictions to provide geolocation security solutions and location-based marketing insights to the sports betting and iGaming industries.
Acies Investments co-founding partner and co-CIO Dan Fetters said: "We are excited to partner with Marvin and the Xpoint team who have created an exceptional geolocation platform that addresses mission-critical services and provides valuable customer insights to the online gaming industry.
"We firmly believe Xpoint delivers truly valuable, differentiated technology to its clients."
Originally founded in 2019 and unveiled in Las Vegas in 2021, Xpoint has North American offices in Miami and Toronto.
