Betty raises $5 million in latest seed round
Real money online casino and casual mobile gaming firm Betty has raised a $5m seed round led by Karlani Capital.
Included in the round include CEAS Investments, Courtside Ventures, Gaingels, OCA Ventures, Subversive Capital and 305 Ventures. This latest round of investments follows on from the $1.8m pre-seed in March last year.
A spokesperson from Gaingels, a LGBTQIA+/Allies private investment syndicate, commented: “Sports betting and casinos have historically been marketed to men. In reality, women make up more than half of the market. We love Betty’s mission to make the category more inclusive.”
Betty has identified a large audience of casual igaming customers, particularly women slot players, who, it states, are underserved by existing brands which, at their core, are sportsbooks.
The proceeds of the round will fund Betty’s operations in Ontario. Betty was issued a gaming licence by the Alcohol and Gaming Commission of Ontario on January 24. The company anticipates a soft launch in February followed by a full-scale go-to-market in Q2.
In addition, the seed funding will also go towards continued development of Betty’s proprietary icasino platform that is tailor-made for the North American customer.
Betty’s founding team previously built a US sports betting media platform, QL Gaming Group (acquired by Audacy), and collectively have over 50 years of icasino tech experience.