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Real money entertainment startup Betty raises a $5 million seed round14 February 2023(PRESS RELEASE) -- Betty, an entertainment company innovating at the intersection of real money online casino (iCasino) and casual mobile gaming, announced today that it has raised a $5 million seed round led by Karlani Capital. Also participating in the round are CEAS Investments, Courtside Ventures, Gaingels, OCA Ventures, Subversive Capital, and 305 Ventures. Betty previously raised a $1.8 million pre-seed in March 2022. Betty has identified a large audience of casual iCasino customers, particularly women slot players, who are underserved by existing brands which, at their core, are sportsbooks. Betty's mission is to maximize the entertainment value of iCasino for these casual players by creating an environment that is safe, social, and inclusive. "Sports betting and casinos have historically been marketed to men,” said Gaingels, a LGBTQIA+/Allies private investment syndicate. “In reality, women make up more than half of the market. We love Betty's mission to make the category more inclusive." The proceeds of the round will fund Betty's operations in Ontario. Betty was issued a gaming license by the Alcohol and Gaming Commission of Ontario on 24 January. The company anticipates a soft launch in February followed by a full-scale go-to-market in Q2. The seed funding will also go toward continued development of Betty's proprietary iCasino platform that is tailor-made for the North American customer. Betty's founding team previously built a U.S. sports betting media platform, QL Gaming Group (acquired by Audacy), and collectively have 50+ years of iCasino tech experience. |