CashBet, an Oakland, CA-based provider of a platform that enables real-money online gambling in social and mobile games, raised $1.7m in funding.
The round was led by Fred Hsu with participation from other angel investors.
The company is using the funds to expand the feature set and capabilities.
Founded in 2012 by CEO Dr. Mike Reaves and CTO and Dr. George Weinberg, CashBet provides developers with Game Development Kit (GDK) software, which delivers licensing, compliance, player verification, and banking features to enable real-money gaming.
Its systems are PCI-DSS compliant and incorporate AES encryption for data security.