Betsperts has successfully completed a $6 million Series A funding round. The company operates the Betsperts app, which serves as a social media platform connecting users to tipsters, and the Fantasy Life app, acquired in May. Additionally, it offers live media content streams.
Betsperts asserts that it has one of the largest audiences in betting and fantasy sports globally, projecting over one million downloads during the early weeks of the 2021 National Football League season.
The funding will be led by HBSE Ventures and Verance Capital. HBSE Ventures is known as the venture capital branch of the Philadelphia 76ers, the New Jersey Devils, and Crystal Palace FC, while Verance Capital primarily supports digital media enterprises.
Andy Roos, a partner at HBSE Ventures, expressed enthusiasm about supporting Betsperts in its expansion, stating, “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.” He highlighted the demand for a solution that distinguishes itself in a saturated market. “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 added. Roos noted that Betsperts plans to utilize this content to attract users across its platforms, capitalizing on the fast-paced growth of the sector.
Existing investors from Betsperts’ June 2020 seed round also joined in on this Series A round.
