Fintech Startup AutoLotto Raises $17 Million


AutoLotto, the mobile Powerball app which is available across the US, has closed a $17 million Series A funding round led by a series of private, strategic investors. The investment will support the growth and expansion of the app, which allows users to play the Powerball and get lottery results on their phone.

The AutoLotto app is billed as the “first-ever safe, secure and fun mobile lottery service”, available on all iOS and Android devices. It allows users to instantly play the Powerball with no fees or commissions, and eliminates the problem of lost tickets and the need to track down results.

The app is available nationwide with lottery ticket scanning and tracking abilities and will continue to launch in-app ticket play across the $80 billion US market as well as in international markets in the coming months.

Tony DiMatteo, CEO, said:“ The Series A includes many return investors from previous rounds, and the level of strategic investment affirms the market’s belief in AutoLotto as the clear leader in re-imagining how people play the lottery, particularly for the younger, more phone-centric consumers.

“We’re attracting a new generation of lottery players, capturing an entirely new market while advancing the industry. This round of funding will allow us to scale our team and further expand our footprint in the US and abroad.”

The company has raised more than $19 million since its inception. Initial seed and Series A funding rounds include a number of marquee investors who were early participants in some of the top technology companies in Silicon Valley, including Twitter, Facebook, Uber, Instacart, PayPal and Tesla.

The company’s roster of investors includes “super angel” investor Jason Port, venture capitalists Bruce Gibney and Ben Narasin, Causecast CEO Ryan Scott and Aurum Partners, among others.