AI-driven startup Rithmm launches with goal to empower bettors
MIT-originated application aims to bring predictive-analytics modeling to market
A new AI-driven startup is aiming to bring predictive-analytics modeling to bettors as Rithmm, a Boston-based company with MIT roots, which formally launched its sports betting application on March 14.
Rithmm’s app allows users to leverage its AI-powered personal information algorithms to build the types of custom analytical models deployed by professional bettors.
In essence, Rithmm is striving to democratize the modeling process so bettors of all types and skill levels can make more informed wagers.
“Rithmm is a powerful data platform that serves as a personal analytics team for everyday bettors to make smarter bets with ease,” said Rithmm co-founder and CEO Megan Lanham. “Rithmm delivers an edge for users by accessing the same sophisticated modeling and analytics tools that the pros use. This dynamic app is going to be a game changer that will up-level the skills and success of sports bettors.”
Backed by a syndicate of investors that includes Boston Seed Capital, Accomplice, and Counterview Capital – three of the original DraftKings seed investors – the majority women-founded Rithmm was a finalist at the recent MIT Sloan Sports Analytics Conference startup competition.
“As the US sports betting market matures, access to advanced analytics is increasingly critical to bettors of all experience levels,” said Boston Seed managing director Peter Blacklow. “We believe Rithmm is changing the industry by creating analytics tools that are even more powerful and customizable for consumers.
“Teaching them [customers] how to personalize their betting decisions is the key to making smarter betting decisions, and Rithmm is the first company to do this.”
After running a series of beta tests throughout this past college football season to finetune its product and gather user feedback, Rithmm used those learnings to officially bring its inaugural college basketball product to market just in time for March Madness.
The startup intends to roll out its NBA model this spring, followed by a WNBA product shortly thereafter, before launching NFL, college football, and English Premier League models in the fall.