Betty, a Real Money Entertainment Startup, Raises $5 Million Seed Round
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 $5M 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 $1.8M 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 maximise the entertainment value of iCasino for these casual players by creating an environment that is safe, social, and inclusive.
Gaingels, a LGBTQIA+/Allies private investment syndicate, commented, “Sports betting and casinos have historically been marketed to men. 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 licence by the Alcohol and Gaming Commission of Ontario on January 24th. The company anticipates a soft launch in February followed by a full scale go-to-market in Q2. The seed funding will also go towards continued development of Betty’s proprietary iCasino platform that is tailor-made for the North American customer.
Betty’s founding team previously built a US sports betting media platform, QL Gaming Group (acquired by Audacy), and collectively have 50+ years of iCasino tech experience.