Jackpocket, a NYC-based mobile-first company focused on modernizing and growing state lotteries, closed a $5 million extension to its $16 million Series B funding round raised in October 2018.
The company has raised a total of $30 million to date.
New investors include Reston, Va.-based PROOF and gaming industry veteran Gavin Isaacs, who was recently appointed as a senior advisor to Jackpocket’s board of directors. Existing investors BlueRun Ventures, Bullpen Capital, Conductive Ventures, DCM Ventures, Digital Currency Group, former NBA Commissioner David Stern and Subversive Capital also participated. Additionally, Jackpocket appointed app economy entrepreneur and investor, Paul Palmieri, the former CEO of Millennial Media who led the mobile ad-tech company from its founding through its $1.4 billion IPO, as a senior advisor to CEO Peter Sullivan and the Jackpocket board.
Jackpocket is a third-party app that offers players a secure way to order official state lottery tickets, such as Powerball, Mega Millions and more. The platform allows lotteries to drive incremental revenue—benefiting essential state programs such as public education, veterans assistance, natural resources and more—while attracting new customers like millennials who otherwise would not be active lottery players.
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 so they never miss a drawing.
Jackpocket is currently available in Minnesota, New Hampshire and Texas, and expanding to many new markets in 2019.
The company recently hit the $1 million mark in prizes awarded to Jackpocket players in 2019.