Betr Holdings, Inc. (“Betr”) has closed a $15 million strategic equity financing round to further accelerate its sports gaming and media businesses bringing valuation at $375 Million, for co-founders Joey Levy and Jake Paul.
- Investor lineup:The round was co-led by Harmony Partners and 10x Capital, with participation from existing investors such as Fuel Venture Capital, Aliya Capital Partners, and Roger Ehrenberg/Eberg Capital, among others, bringing Betr’s total funding to date to $100 million, indicating strong investor confidence in the company’s growth potential.
- Market Expansion: Betr recently announced market access expansion plans for its Online Sportsbook product, securing access in multiple states including Pennsylvania, Ohio, Virginia, Indiana, Colorado, and Kentucky. Additionally, the company is poised to launch its Casino product pending regulatory approval, with secured iGaming market access in Pennsylvania.
- Strategic hires: Betr has bolstered its senior leadership team with strategic hires including Dan Maas as Head of Media Revenue, Partnerships, and Strategy, and Andrew Winchell as Head of Government Affairs.
- Leadership Vision: Founder and CEO, Joey Levy, expressed enthusiasm for the funding round and the acquisition of the Indiana sports wagering license, highlighting Betr’s potential to build a category-defining business.
“Jake (Paul) and I co-founded Betr just over two years ago, so raising capital from leading growth stage investors at a $375 million valuation in the very early days of our business is a testament to the performance of the team and business to date, and the potential we have to build a category defining business with Betr. Finally, I want to thank the Indiana Gaming Commission for the honor and privilege of a sports wagering license in the Hoosier state. We are excited to launch our new V1 Sportsbook product in Indiana over the coming months, while bringing our best-in-class responsible gaming standards to the state.”
With ambitious expansion plans, a robust financial backing, and a talented leadership team, Betr is well-positioned to become a major player in the sports gaming and media industry.
