Quarter4, a provider of AI-driven predictive sports data and analytics for sports, media, and betting firms, has closed its initial fundraising round, raising $1.6 million.
The money will be used to hire strategic expertise to help the company grow its technical and sales teams. By the end of 2021, the company intends to double its workforce.
Quarter4 is presently developing its own AI technology with deep learning neural networks. In addition to adding expertise, the funds raised in this round will help the company expand its B2B services technologically, including tripling its daily predictions to two million by September 2021, which will include NFL predictions.
The company’s IT team is also adding predictive probabilities for live in-play betting, as well as odds and market analysis, to its data reporting capabilities.
Leading the deal
Shore Capital Sports & Entertainment, a Toronto and New York-based consultancy and investment group, led the deal. The company will also support Quarter4 with company development, strategic alliances, and financial advising services as part of its strategic investment.
For Quarter 4, Scott Secord, Managing Partner, will also join the Board of Directors. He was the former President/CEO of Gaming Nation Inc, a TSXV-listed company that was acquired by a private equity firm in 2018.
Spanning the sports landscape
He commented: “Quarter4’s technology is exciting because it spans across the sports landscape providing incredible data and rich insights for sports betting, sports media and sports broadcasting companies.
“The opportunities in the sports and gaming industry seem limitless, but we understand that the strength of this market lies in the quality of the data powering the industry. Our investment in Quarter4 shows our commitment to continually improving how data is delivered to sports companies across the globe.”
Secord will be joined on the Quarter4 Board of Directors by Terry McInally, the Chief Compliance Officer of Gateway Casinos and Entertainment. He formerly worked for Richter Advisory Group as a Partner and National Gaming Practice Leader, PwC as the National Gaming Practice Leader, and the Alcohol and Gaming Commission of Ontario as an executive (AGCO).
Quarter4’s co-founder and CEO, Kelly Brooks, stated: “We’ve seen exceptional demand for our market-leading analytics in the past year. Sportsbooks and gaming companies, sports leagues, technology and data providers as well as broadcast and media partners need valuable data to make smarter decisions and create richer content for their respective audiences.
“This investment allows us to scale our capabilities and work directly with leading partners like Scott and Terry to create cutting edge technology solutions to continue to shape the global gaming industry.”