‘TikTok for sports betting’ startup secures $1m in seed funding
In-game sportsbook white label firm Kero Gaming receives investment from Lloyd Danzig, David Sargeant and Benjie Cherniak among others
Kero Gaming has completed a $1m seed funding round, receiving support from investors including Lloyd Danzig’s Sharp Alpha Fund, David Sargeant’s iGaming Ideas, Benjie Cherniak of Avenue H Capital and Scott Secord of Cardinal Sports Capital.
The startup, formerly known as Rush Sports, provides white label in-game sports betting content to teams including the Chicago Bulls, Atlanta Falcons, and Minnesota Vikings via TikTok-style curated content.
The company’s core product is an algorithmically curated engine that provides fans with contextually relevant in-game betting and prediction opportunities.
Kero has said it will use the seed funding proceeds to fund “continue growth across pro sports teams and media platforms”, while also expanding to serve licensed gaming operators.
Kero Gaming CEO Tomash Devenishek outlined his belief that future growth in the sports betting market would come from casual fans eschewing the current crop of sportsbook operators.
“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,” Devenishek explained.
Keno has previously offered its product on a free-to-play basis within the apps of professional sports teams, but has plans to launch real-money wagering version of its technology tailored to sports betting operators in Q3 2022.
“In 2021, we doubled our client base across NBA and NFL teams and locked in multi-year agreements with existing clients,” said Devenishek.
“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,” he added.