Jackpot, a San Francisco, CA-based provider of an online lottery ticket app and platform, raised $35M in Series A funding.
The round was led by Accomplice and Courtside Ventures, with participation from Kraft Group, Michael Rubin, Haslam Sports Group, Elysian Park Ventures, Arctos Sports Partners, Sapphire Sport, Theo Epstein, Fenway Sports Group President Mike Gordon, Jason Robins, James Harden, Joel Embiid, Martin Brodeur Lil Baby, and Sam Kennedy.
The company intends to use the funds to expand operations and launch its product in the United States.
Led by CEO Akshay K. Khanna, Jackpot Jackpot is a digital platform that facilitates the purchase of official state lottery tickets online. Customers will be given the opportunity to buy lottery tickets via a mobile app or desktop experience that allows them to shop from the comfort of their own homes or on the go.
As more states allow online lottery ticket sales, Jackpot’s proprietary technology will help facilitate an increase in lottery ticket sales for the states where the service is permitted, by driving traffic towards the lottery as a form of entertainment and by bringing the lottery experience to a younger audience that may never have purchased lottery tickets before.
The team is led by Akshay K. Khanna, an accomplished sports and licensing executive who formerly ran StubHub’s North America business and Harris Blitzer Sports & Entertainment’s strategy group; co-founder Roi More, the co-founder of Gett; and co-founder Yariv Ron, a real money gaming industry veteran.
Jackpot plans to launch operations in the US in select states this year.