American-Bulgarian real-money entertainment startup Betty raises $5M in a seed round
14 February, 2023, 15:04
Betty, an entertainment company at the intersection of real-money online casino and casual mobile gaming, has raised $5 million in a seed round led by Karlani Capital. Proceeds from the round will fund Betty’s operations in Ontario.
- Founded in 2022 by Vlad Pavlov, Chavdar Dimitrov, Jordan Tuch, Annie Zeng, and Justin Park, Betty is headquartered in New York and has an R&D office in Bulgaria. Betty’s founding team previously built a US sports betting media platform, QL Gaming Group, and collectively has over 50 years of experience in iCasino technology.
- Betty claims that a large audience of casual iCasino customers, particularly women slot players, are underserved by existing brands which are sportsbooks. Betty’s mission is to maximize the entertainment value of iCasino for these casual players by creating an environment that is safe, social, and inclusive.
- The fresh round was led by the US Karlani Capital, an operating fund that helps to grow companies from 1 to more than 1,000 employees, as well as from $1 to over a billion dollars in valuation, and assists in taking companies into the public markets. CEAS Investments, Courtside Ventures, Gaingels, OCA Ventures, Subversive Capital, and 305 Ventures also participated in the round. To date, in March 2022, Betty raised $1.8 million in a pre-seed round.
- Betty will spend the investment to fund its operations in Ontario. On January, 24 the startup obtained a gambling license from the Alcohol and Gaming Commission of Ontario. The company expects a soft launch in February, followed by a full-scale release in the second quarter. The seed funding will also be used for the continued development of Betty’s proprietary iCasino platform, tailored to the North American customer.