Picklebet, an internet sports wagering firm, has obtained a substantial AU$15 million (GBP 7.8 million/EUR 9 million) in a Series A funding round.
The funding round was spearheaded by Discerning Capital, a prominent investment company. Propelled by DraftKings, the venture capital branch of DraftKings, and Manifest Investment Partners also participated in the round.
Jeff Sagansky, a notable figure in gambling and media, also contributed additional investment. Picklebet presently holds an Australian operating permit and intends to expand worldwide in 2024.
Last year, Picklebet signed a two-year accord with Racing and Sports (RAS). Under this agreement, RAS will provide risk management trading services for Picklebet’s horse racing product. This follows a pact with Oddin.gg in 2021 for esports betting solutions.
“This investment demonstrates the strong belief in our groundbreaking betting product and our distinctive media approach,” remarked Nick Heaney, Chief Executive Officer of Picklebet. “We are enthusiastic about utilizing these funds to attract more customers in Australia, continuously enhance our technology, and initiate international expansion.”
Heaney further stated that Discerning Capital will continue to support Picklebet’s growth.
Picklebet has joined forces with Discerning Capital, a leading investor in the realm of online sports wagering and gaming, to propel the company to new heights. The company’s chief executive stated, “They will be our collaborators as we expand and develop innovative offerings.”
“Their expertise in the industry will empower us to venture beyond Australia and make betting and entertainment more captivating for the upcoming generation.”
Davis Catlin, the head of Discerning Capital, described Picklebet as a “truly exceptional” investment.
“We have scrutinized online sports betting globally, and Picklebet distinguishes itself with its distinctive technology, content team, rapid growth, and astute approach to attracting new customers,” Catlin elaborated. “We have been working in close collaboration with them and are confident in their ability to realize their vision.”
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