Chris Grove and Benjie Cherniak invest in Canadian sports betting media firm
Industry veterans join Parleh Media Group in CAD$1m pre-seed financing round
Eilers & Krejcik Gaming’s (EKG) Chris Grove and former Don Best MD Benjie Cherniak have joined Canadian sports betting news and media network Parleh Media Group (PMG) as investors.
The commitment from the two industry veterans comes as PMG confirms the completion of the company’s CAD$1m pre-seed financing round.
Seed funding generated from investors will be used to create new sports media content. PMG currently operates The Parleh website, which provides sports-related content and educational resources on sports betting.
Parleh TV Toronto launched in October to become the city’s first dedicated multi-sport news and information TV channel, which is available free online 24/7.
As part of his investment, Cherniak, who led the Don Best business prior to its acquisition by Scientific Games in 2018, will join PMG as an advisor on the role of data and media content in regulated sportsbooks.
Grove, a partner in Eilers & Krejcik Gaming, is a serial investor in gambling-related businesses, including FansUnite, Boom Fantasy and via his own Sports Gambling Investment Fund (SGIF).
“I met The Parleh founders soon after it launched and quickly recognized how their brand of sports betting content could potentially fill a void for sports fans,” said Grove.
“Watching as they paired that potential with impressive execution across acquisitions and organic growth initiatives convinced me to back this management team,” he added.
PMG founder Mark Silver commented: “The rise of open and regulated sports betting markets has created a once-in-a-generation disruption in the business of sports and media.
“Having Benjie and Chris, two highly-respected leaders in the sports betting industry, invest in Parleh Media Group and also helping us on our journey is validation that we’re on the right track,” Silver added.