Jackpocket, a NYC-based third-party mobile app that offers players a secure way to order official state lottery tickets, raised an additional $16m in Series B financing.
The round, which brought total funding raised to date to $25m, was led by Conductive Ventures, with participation from DCM Ventures and former NBA Commissioner David Stern, and existing investors BlueRun Ventures, Bullpen Capital, Digital Currency Group and Subversive Capital.
The company intends to use the funds to expand Jackpocket to new jurisdictions across the country.
Led by CEO Peter Sullivan, Jackpocket provides a mobile app that offers players a secure way to order official state lottery tickets, such as Powerball, Mega Millions, and more. Through the app, players can place orders for their favorite games, check lottery results, join lottery pools with other Jackpocket players, and turn on autoplay. It is currently available in Minnesota and New Hampshire, with upcoming plans to expand to new markets.
Jackpocket allows lotteries to drive incremental revenue, benefiting essential state programs such as public education, veterans assistance, natural resources while attracting new customers like millennials who otherwise would not be active lottery players.
Currently, the app is available to players in New Hampshire and Minnesota.