Sportsbook white label firm Kero Gaming has completed its first external funding round, raising $1m (£758,263/€909,979).
The funding round received support from a number of investors, including Lloyd Danzig’s Sharp Alpha Fund and David Sargeant’s Igaming Ideas.
Benjie Cherniak of Avenue H Capital and Scott Secord of Cardinal Sports Capital also contributed to the funding round.
Hailed ‘TikTok for sports betting’, Kero offers its products as a free-to-play experience inside the apps of professional sports teams.
Kero’s core product provides fans with relevant in-game betting and prediction opportunities.
The proceeds from the seed funding will help the continued growth of the company.
“In 2021, we doubled our client base across NBA and NFL teams and locked in multi-year agreements with existing clients,” said Tomash Devenishek, founder and CEO of Kero. “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.” “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.”
In the third quarter of 2022 Kero will launch a real money wagering version of its technology for sports betting operators.
“Demand has never been stronger for turnkey, mobile-optimised interactive gaming solutions that can serve users contextually-relevant engagement opportunities,” said Danzig.
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”.