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Kero Gaming, a provider of white label curated in-game sports betting products, is pleased to announce the completion of the company’s first external round of funding. The company raised US $1m (£0.76m, €0.91m) from notable industry investors including Acies Investments, Lloyd Danzig’s Sharp Alpha Fund, David Sargeant’s iGaming Ideas and other strategic stakeholders such as Benjie Cherniak of Avenue H Capital and Scott Secord of Cardinal Sports Capital.
“In 2021, we doubled our client base across NBA and NFL teams and locked in multi-year agreements with existing clients. This was a clear signal of strong product-market fit and a shared vision on the significance and evolution of in-game engagement and micro betting,” said Tomash Devenishek, founder and CEO.
“Also sharing in our vision are some of the gaming industry’s most formidable individuals and institutional investors. Their participation in our financing has drastically accelerated our ability to create transformative turnkey betting products,” he continued.
The company’s core product is an algorithmically-curated engine that intelligently provides fans with contextually relevant in-game betting and prediction opportunities.
Kero will use the proceeds to fund continued growth across pro sports teams and media platforms while also expanding to serve licensed gaming operators.
The company, which to date offered its product as a free-to-play experience inside the apps of professional sports teams, has announced their launch of a real money wagering version of its technology tailored to sports betting operators in the third quarter of 2022.
Lloyd Danzig commented, “Demand has never been stronger for turnkey, mobile-optimized interactive gaming solutions that can serve users contextually-relevant engagement opportunities.”
Devenishek added, “We believe that future growth in sports betting will come from casual fans who will reject the sportsbook products we use today. Similar to mainstream forms of mobile entertainment, the betting experiences of the future will need to lean heavily on algorithmic curation and this is what we are focusing on at Kero Gaming”.