Ex-Pinnacle CEO Paris Smith among new key investors in WagerWire
Former Pinnacle CEO one of several high-profile investors to take part in latest funding round for parent company Wire Industries
WagerWire parent company Wire Industries has secured several high-profile investors in its latest funding round, including former Pinnacle CEO Paris Smith.
Smith was joined by Pinnacle co-founder George Molsbarger, famed investor Danny Moses, and venture capital firm Goodpaper Ventures in the round.
Neither the level of investment from each party, nor the total funding round, has yet been disclosed.
Smith co-founded startup launchpad Defy the Odds alongside All-in Diversity Project co-founder Kelly Kehn and ex-SBC VP Sue Schneider back in September.
Speaking to EGR earlier this year, Smith referenced the formation of Life Winning since she left Pinnacle, which acts as a source for her angel investments.
She described the Wire Industries investment as a “unique opportunity” within the industry.
“My time and experience on the operator side leads me to know what will and won’t work,” she said. “I believe what WagerWire offers to both bettors and operators creates a unique opportunity to support players and their needs.
“Zach [Doctor, company CEO], Travis [Geiger], and Guy [Dotan] are the type of founders I look for: smart, passionate, willing to pivot, and create value to the market. I am really excited to be on this journey with them.”
Alongside WagerWire, a platform which allows its users to buy and sell bets between each other, Wire Industries’ portfolio also contains FantasyWire, PonyWire, and ContestWire.
Furthermore, Wire Media Group operates the organization’s media network and affiliate marketing division.
The new investors join previous Wire Industries backers from 2022, who came on board via a funding round which raised $3m for the company.
Previous investors included Eberg Capital, which is run by Roger Ehrenberg, co-owner of the MLB’s Miami Marlins.
Betr and Simplebet founder Joey Levy’s 305 Ventures and Simplebet co-founder Scott Marshall also contributed at the time.
Doctor added: “Our goal has always been to modernize the sports betting experience.
“The addition of these investors gives WagerWire the support of both the initial pioneers of this industry as well as the innovators and disruptors of the new generation, supercharging our efforts to bring a more efficient, open, and entertaining market to real money gaming, and unlocking value for the entire ecosystem.”