This week, industry luminaries Matt Davey, Eyal Shaked, Benjie Cherniak, Sandford Loudon, and Sean Hurley led a $4 million round of angel funding for Betcha, an end-to-end sports gaming technology platform. They join previous backers Sinai Ventures and Muse Capital as investors.
Real-money sports betting has been redesigned by Betcha as an immersive entertainment experience. Its next-generation Daily Fantasy Sports app, which is available on iOS and Android, provides simple player props augmented by social and gamification features, resulting in “industry-leading unit economics, broad fan reach, and strong network effects,” according to the company.
Unique tech stack
The company’s unique tech stack includes a Player Account Management (PAM) module that links into its own DFS platform, as well as comprehensive compliance capabilities, all of which are designed to be extensible to sportsbooks and casinos.
Shaked, a Betcha investor and the founder of 888 Holdings, said: “I’m impressed by Betcha’s transformative vision for digital gaming combined with their ability to execute on bootstrapped resources to date.
“While Betcha has gone to market with a disruptive consumer gaming experience, they’ve also built a best-in-class tech platform that enables the ability to cut out expensive third party revenue shares.”
With a communal feed of picks, odds boosts for playing with friends, and weekly leaderboards for cash prizes, the Betcha DFS app gives player props across traditional sports and eSports, such as will LeBron score more or fewer than 28.5 points.
The app is a hybrid of real-money and free-to-play, with real-money action reaching the majority of the US population, including large areas such as California, Florida, and Texas.
According to the company, it has achieved compelling viral growth, with 80 percent of customers joining through word-of-mouth or recommendations from friends, resulting in low customer acquisition expenses and strong user engagement.
Jason Shapiro, the company’s President said: “Betcha has turned making picks on games into its own gaming experience. Our simplicity, social features and Peloton-esque gamification appeals to a broad range of sports fans.
“This funding marks a significant milestone for our team and we look forward to enhancing our offering with additional sports and features.”
The Betcha team
Cherniak, Principal at Avenue H Capital and former Managing Director of Don Best Sports, which was acquired by Scientific Games, added: “I love the Betcha team. Hanson Wong, Brett Schlussman, and Jason Shapiro collectively tick all the boxes – gaming industry experience, previous technology start-up with a successful exit, Ivy League pedigree and entrepreneurial drive.
“Moreover, Betcha differentiates from the competition via proprietary technology so as to facilitate integrations like a shared wallet with a sportsbook and casino. The building blocks to success are in place.”