AI-driven sports betting technology developer Rithmm, Inc. has closed its $2m seed funding round.
The funding will aid the company in its strategic global expansion plan, as well as with its upcoming NFL product launch. The platform is designed to “eliminate the complexity and barriers associated with traditional sports betting analytics, making it accessible to users of all skill levels.”
Group CEO Megan Lanham took a moment to briefly discuss the completed funding round.
She commented, "We are thrilled to announce the successful closure of our $2m seed funding round. We secured VC investment despite an uncertain economic climate, underscoring the unwavering confidence in our mission and the tremendous potential of our platform.
"This timely infusion of capital will play a pivotal role in propelling our technology forward, enabling us to broaden our reach with the eagerly awaited NFL product, and providing our users with an unparalleled sports betting experience."
Several notable Boston-based investors contributed to the round, including Boston Seed Capital, Counterview Capital, Oyster Ventures, Correlation Ventures, Service Provider Capital and Permit Ventures.
Boston Seed Capital Managing Director Peter Blacklow commended Rithmm for its contribution to the sports betting industry and said the company was pleased to offer its support.
He said, "We believe Rithmm is poised to disrupt the industry by providing users with advanced analytics and insights previously reserved for professional sports bettors.
"Their AI-driven platform has the potential to level the playing field and transform the way sports bettors approach strategy. We are thrilled to support Rithmm in their mission to redefine the sports betting experience."
