Lucra Sports, a San Francisco, CA-based peer-to-peer sports gaming platform, raised $10m in Series A funding.
The round was led by Raptor Group, with participation from SeventySix Capital and Victress Capital and individual investors Milwaukee Bucks owner and Avenue Capital founder Marc Lasry, professional tennis player John Isner, and NFL Pro Bowl Wide Receiver Emmanuel Sanders. Raptor Group’s Anthony DiSanti joined Lucra’s Board.
Led by Founder and CEO Dylan Robbins, Lucra Sports makes social-first wagering possible, allowing fans to legally wager across 37 states with their friends in a safe and fun environment – with no traditional sportsbooks involved.
The Lucra iOS app offers a new form of social engagement to sports fans and makes sports wagering more approachable for more casual fans with its peer-to-peer gaming marketplace. Players compete against each other instead of casinos or traditional sportsbooks and can wager any dollar amount in highly customizable skill-based contests.
In Fall 2021, Lucra launched an iOS app offering legal head-to-head wagering, extending across state lines, for NFL, NBA, MLB, NHL, golf (PGA TOUR), tennis (WTA and ATP), and soccer (MLS, UEFA Champions League, Premier League). The technology is also applicable for eSports (League of Legends, Counterstrike) and eSports wagering will be added to the community in Summer 2022.
The company spent 18 months building a legal framework inclusive of banking, payment processing, compliance, Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations across 37 states for sports wagering before launching in October 2021.
FinSMEs
31/03/2022