MyRacehorse raises $7 million in funding round

Finance News

MyRacehorse, today announced a $7 million funding round. The funding round is comprised of several investors led by 1/ST, North America’s dominant Thoroughbred racing and gaming company, through its 1/ST RACING & GAMING and 1/ST TECHNOLOGY business divisions.

1/ST RACING & GAMING operates many of the premier racetracks in the United States including Santa Anita Park, Gulfstream Park, Laurel Park, Golden Gate Fields and Pimlico Race Course. 1/ST TECHNOLOGY is horse racing’s largest technology company with a portfolio of products and services encompassing 1/ST BET, Xpressbet and AmTote International, world leaders in pari-mutuel and ADW technologies.

aunched in Los Angeles, California in 2018, MyRacehorse has operated on the simple premise of making racehorse ownership easy to try and accessible to a broader audience. Racehorse ownership is an aspiration for millions, but due to high barriers to entry, antiquated securities laws and lack of technology, ownership was previously unattainable for the vast majority.

Using the MyRacehorse app, prospective owners can review, analyze and purchase a fractional share in their desired racehorse for a single one-time payment of as little as $100. The app serves as the primary platform to follow the journey of racehorse ownership via updates from the trainer, jockey and analysts, with direct and instant payouts of prize money.

The platform currently boasts more than 50,000 active owners and 100 active horses who have won over 160 races worldwide with earnings in excess of $20 million. MyRacehorse is predominantly focused in the United States and Australia and has recently expanded to the United Kingdom and Ireland.

“This is the ultimate strategic partnership; having 1/ST RACING & GAMING and 1/ST TECHNOLOGY as the lead investors not only provides us the capital to accelerate growth, but the strategic assets and access to enhance the ownership experience for our 50,000 plus racehorse owners,” said Michael Behrens, Founder and CEO of Experiential Squared and MyRacehorse. “1/ST RACING & GAMING and 1/ST TECHNOLOGY are progressive leaders in all aspects of Thoroughbred racing and have been supportive of MyRacehorse since the beginning. The partnership affirms 1/ST’s commitment to growing ownership and further immersing fans in our sport.”

“1/ST’s mission to introduce and engage the next generation of fans and owners in innovative and entertaining new ways aligns perfectly with the MyRacehorse concept,” said Aidan Butler, Chief Executive Officer, 1/ST RACING & GAMING. “The ability to become an owner of a Thoroughbred racehorse and to be part of an ownership experience that until now has been inaccessible for many, is truly exciting. We have seen firsthand the success of MyRacehorse and we look forward to helping scale this platform across racing, wagering and beyond.”