Betsperts closes $6m Series A funding round
The business comprises the Betsperts app, which connects users to tipsters through a social media interface, the Fantasy Life app – which was acquired in May this year – and live streams of media content.
It claims to have one of the largest betting and fantasy sports audiences worldwide, and expects to surpass one million downloads in the early weeks of the 2021 National Football League season.
Supporting this growth will be Series A leads HBSE Ventures and Verance Capital. HBSE is the venture capital arm of basketball franchise the Philadelphia 76ers, ice hockey’s New Jersey Devils and English Premier League club Crystal Palace, while Verance Capital has predominantly backed digital media businesses.
“HBSE Ventures is excited to support Betsperts in their next phase of growth, as they aim to become the social network for sports betting and fantasy sports,” HBSE Ventures partner Andy Roos commented.
“Sports bettors and fantasy players have no shortage of outlets, but we believe there is a strong need for a solution that cuts through the noise and provides access to the best content, whether user generated or from recognised experts,” he explained. “Betsperts will leverage this content to attract consumers across its complementary platforms and take advantage of the explosive growth the sector is experiencing.”
Previous backers of Betsperts, who invested in its June 2020 seed round, also participated in the Series A round.