Betr, a Miami, FL-based micro-betting company, raised USD50m in Series A funding.
Betr closed a $30M Series A led by Florida Funders earlier this year. The round was oversubscribed, so the company raised an additional $20M Series A1 led by Aliya Capital Partners and Fuel Venture Capital, with its initial closing last quarter and its final closing scheduled for this quarter.
Backers included Florida Funders, 8vc, Aliya Capital Partners, Fuel Venture Capital, FinSight Ventures, Co-Owners of San Francisco 49ers, Boston Celtics, and Miami Marlins, Travis Scott, Ezekiel Elliott, Richard Sherman, Dez Bryant, DeSean Jackson, Braxton Berrios, Palm Tree Crew, Roger Ehrenberg, Mark Wan, Russell Galbut, David Grutman, Deirdre Bigley, Gary Barber, Simplebet, Stronach Group, Magic City Casino, Anti Fund, 305 Ventures, Elizabeth Street Ventures, Riverside Ventures, Gaingels, Moving Capital, Elysium Venture Capital, FJ Labs, Tampa Bay Ventures, Trog Hawley, and many others.
Led by Founders Joey Levy, CEO, and Jake Paul, President, Betr is a direct-to-consumer micro-betting focused sports betting company. Micro-betting is a new form of betting that introduces instant gratification to the user experience by enabling the moments that drive U.S. sports consumption – such as pitches & at-bats of baseball games and plays & drives of football games – to become discrete opportunities.
Betr will be leveraging Simplebet’s technology and is releasing its app in the coming weeks, initially as a free-to-play experience available in all 50 states, with a state-by-state rollout of its licensed real money betting experiences to follow later this year. The company has secured market access in multiple U.S. states through strategic equity-based partnerships that will be announcing in the near future.