Betr unveil $35M funding round, $300M valuation

Finance News

Betr, a Miami, FL-based sports betting and sports media company, raised $35M Series A2 funding, at a $300M pre-money valuation.

The round was led by Roger Ehrenberg via IA Sports Ventures and Eberg Capital, and Fuel 
Venture Capital. Both co-founders – Joey Levy via a personal investment and Jake Paul via Anti Fund – participated in the round, along with other existing investors including FinSight Ventures, Florida Funders, and Aliya Capital Partners.

The company intends to use the funds to expand operations and its business reach.

Founded in 2022 by Joey Levy and Jake Paul, Betr is a sports betting and sports media company operating through Betr Gaming and Betr Media, respectively. 

Betr Gaming is an online sports betting and gaming business focused on a product experience with a simplified UI/UX. It is licensed and operational in Ohio and Massachusetts, is licensed in Virginia with plans to launch soon, and holds market access in Indiana and other jurisdictions that will be announced soon. In addition to OSB, the unit will be launching two additional real money gaming verticals, which will be announced over the coming weeks and months. 

Betr Media is a sports betting media brand that has grown to over 1.4 million followers, 1.3 billion impressions, and 70 million engagements across its social channels since publicly launching in August 2022. 

The company recently acquired the Chameleon platform from FansUnite (TSX: FANS), which will enable Betr Gaming to launch V1 of its OSB product, Betr Betting, with full sportsbook capabilities which will include pre-match and in-play core markets, parlays, same game parlays, futures, props, and other bet types, along with 20+ additional sports. The Chameleon platform will also support the two additional real money gaming verticals the company plans to announce.