Betr raises $35m in series A2 at $300m pre-money valuation

Updated:2024-03-20 10:36    Views:116

Betr Holdings has announced its $35m Series A2 round of funding, valuing the company at $300m pre-money.

The company completed a number of initial closings for its Series A2 round of funding in Q2 and the final closing is expected to take place in Q3.

IA Sports Ventures, Eberg Capital and Fuel Venture Capital, which together co-led the round, increased their total investment in Betr from $10m to $20m. The round is co-led by Roger Ehrenberg.

Jake Paul and Joey Levy, both Co-Founders, took part in the round through Anti Fund, while other prominent existing investors like FinSight Ventures, Florida Funders and Aliya Capital Partners invested much more than their pro rata share.

Recently, Betr acquired the Chameleon platform from FansUnite, allowing Betr Gaming to launch V1 of its OSB product, Betr Betting, with full sportsbook capabilities, including pre-match and in-play core markets,Online Casino Games parlays, same-game parlays, futures, props and other bet types, as well as 20+ additional sports.

Further, the two additional real-money gaming verticals that the company will reveal soon will be supported by the Chameleon platform.

Joey Levy, Founder and CEO of Betr, said: "I am thrilled to announce our Series A2 round of financing, which we opportunistically raised after successfully laying the foundations for Betr Gaming and Betr Media while validating some of our core theses."

Jeff Ransdell, Founding Partner & Managing Director of Fuel Venture Capital, said: "Joey, Jake and the incredible Betr team are truly creating something remarkable. The overwhelming demand from investors wanting to join this journey is a testament to the validity and promise of what they're building."

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