BeyondPlay Raises €5M in Oversubscribed Funding Round
BeyondPlay, the B2B start-up developing next-generation engagement software for online gaming operators, has raised a further €5 million (£4.4 million/$5.51 million) from a wide range of influential investors.
The round was led by Bettor Capital, an early-stage venture capital fund based in the United States that focuses on software and technology providers in the real-money gambling industry.
Further backing comes from Tigrim Capital, Winforton Investments and selected other firms, complementing reinvestment from existing shareholders. The round has also attracted seasoned industry professionals, such as Feda Mecan, Mark Blandford and Alexandre Tomic, widely recognised for their track record of investment in successful ventures, including Alea Gaming, BlueRibbon, Fliff, Future Anthem, Gaming Realms and KaFe Rocks.
Following the funding round, the BeyondPlay board has been strengthened by the addition of David VanEgmond, Founder and CEO at Bettor Capital, previously in senior leadership roles at Barstool Sports and FanDuel, to an already powerful line-up that includes Daniel Burns of Oakvale Capital.
The investment will underpin BeyondPlay’s ongoing product development program, with a focus on delivering the final phase of its innovative Multiplayer software and expanding the product offering with new features and forays into new verticals.
In addition, funds will support the growth of the BeyondPlay team ahead of the multiple operator launches planned for 2023/24, as well as driving further market expansion, with a particular focus on entering North American jurisdictions.
Karolina Pelc, Founder and CEO of BeyondPlay, said: “This is another major milestone for BeyondPlay, and we’re excited to have secured the confidence and support of such reputable and knowledgeable investors.
“A combination of Bettor Capital’s leading strategic expertise and the mindsets and experience of some of the industry’s most successful serial entrepreneurs will take our growth to the next level.
“Exceeding our funding target is a testament to the hard work and dedication of the BeyondPlay team. Innovation requires a willingness to take risks, so I am very happy to see that our increasing momentum towards product and client launches is recognised and trusted by both new and existing investors alike.”
David VanEgmond, Founder and CEO at Bettor Capital, added: “BeyondPlay continues to innovate, developing exciting technology for the online casino market. The company’s software provides more fun and engaging experiences to consumers through jackpots and emerging multiplayer capabilities that make any content playable with friends.
“We are thrilled to back BeyondPlay’s team of experienced industry professionals, including a founder and leader in the online casino space like Karolina, as the company takes its next steps in its journey to launch.”
In March 2023, BeyondPlay secured a Remote Casino Host and Gambling Software Licence from the British Gambling Commission, in addition to the B2B Critical Supply Licence from the Malta Gaming Authority the start-up has held since December 2022. Further licence applications are currently ongoing as the start-up prepares for the first of many of its upcoming operator launches.