TLDR:
- Betr, a sports gaming and media company, raised $15M in equity funding at a $375M valuation.
- The company plans to use the funds to accelerate its sports gaming and media business.
Betr, based in Miami, FL, secured $15 million in strategic equity financing, led by Harmony Partners and 10x Capital, along with existing investors like Fuel Venture Capital and Aliya Capital Partners. The company, founded in 2022 by Joey Levy and Jake Paul, focuses on enhancing the consumption of sports through entertainment. Starting with a beta version of its Online Sports Betting product, Betr later launched its real-money Daily Fantasy Sports product, Betr Picks, in 24 states. The company is set to launch its V1 Sportsbook product and iGaming vertical by the end of 2024. Betr Media, the company’s media division, has quickly grown to over 2.5 million followers since its public launch in August 2022. Betr has expanded its market access for its Online Sportsbook product to various states and has secured a temporary Indiana sports wagering license. Commenting on the news, Joey Levy expressed gratitude for the opportunity to build a defining business with Betr and thanked the Indiana Gaming Commission for their support.
