Betsperts Media & Technology Group, a startup company specializing in fantasy sports and sports betting, welcomed many new investors after closing a Series A funding round worth $6 million. This company offers the Betsperts app and the Fantasy Life app. The official Betsperts app connects its users to various tipsters via interference of social media, while the Fantasy Life app live streams various media content. The latter was purchased by Betsperts earlier this year.
Betsperts Enjoys a Large Global Audiences
According to the company itself, Betsperts has one of the largest global audiences in terms of sports fantasy and sports betting. Additionally, it expects to reach new heights because, in the early weeks of the new NFL season, Betsperts thinks that it can surpass one million downloads.
This growth will be supported by Verance Capital and HBSE Ventures (Series A leads). HBSE is the Philadelphia 76ers’ venture capital arm, but it also has the same role with Crystal Palace, a soccer team in the English Premier League, and the New Jersey Devils, an NHL team. As for Verance Capital, this company backs digital media businesses most of the time.
Andy Roos, an HBSE partner, stated that HBSE is thrilled to support Betsperts in the next growth phase, which is becoming the top social network for fantasy sports and sports betting. He added that even though the fans of fantasy sports and wagering don’t have a shortage of choices for outlets, the company believes that a solution that will allow fans to access the best content and one that will cut through the noise is needed.
Betsperts will take full advantage of the massive growth that the section experiences and attract new customers on its platforms.
Other Betsperts Backers Took Part in the Series A Round
Other companies that have backed Betsperts in the seed round in June 2020 also took part in the Series A round. These companies include Parlay Capital, the CEO and founder of Bettor Capital – David VanEgmond, and Velo Partners. Parlay Capital was the leader of the seed round, while VanEgmond had major success last year as he was appointed to its board of directors.
The chief executive of Betsperts, Reid Rooney, stated that the Series A round capital provided the company with an opportunity to invest a lot in increasing its userbase. It will accomplish this by spending on technology, marketing and content, as well as through strategic investments and potential mergers and acquisitions.
Rooney added that Betsperts is looking to be at the center of the social conversation for sports bettors and fantasy sports fans as more US states legalize betting on sports.