Entering 2024 with ambitious goals, Betr, initially established as a microbetting company, now has the financial backing to materialize its aspirations.
“Jake and I co-founded Betr just over two years ago, so raising capital from leading growth stage investors at a $375 million valuation in the very early days of our business is a testament to the performance of the team and business to date, and the potential we have to build a category-defining business with Betr,” said Joe Levy, Betr CEO and Co-founder.Another recent investment pushes total funding to $100 million, with the latest deal for the sports betting, gaming, and media company.
“We believe that Betr has the product, management, and market opportunity that we saw in DraftKings in its early days with a significantly larger TAM and room for growth today,” said David Weisburd, 10x Capital’s Co-founder and Head of Venture Capital.Levy also announced that Betr has received a temporary operating license in Indiana, where it will launch the new sportsbook.
Betr, which was founded in 2022, has quickly expanded to Pennsylvania, Virginia, Indiana, Colorado, and Kentucky. Meanwhile, Betr Picks — a daily fantasy sports site — is currently live in 24 U.S. states. Betr has also announced several new leadership additions, including Dan Maas being hired as Head of Media Revenue, Partnerships, and Strategy to monetize Betr Media.
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