Betty, the female-focused online casino, raises $5M to fuel growth
Betty, the female-focused online casino, announced today that it has raised $5 million in pre-Series A funding led by CEAS Investments as the company approaches its upcoming Series A round.
Also participating in the round are Powerhouse Capital, HappyHour, and Courtside Ventures. Betty has previously raised $7M.
Betty has harnessed the power of the female gaming audience to create a unique online casino experience. Betty’s offering focuses on transparency, community-based play, and gamification of the traditional slotexperience, all catered to female players. This focus has allowed Betty to stand out from other services, resulting in phenomenal growth and the ability to retain female players at a rate three times higher than their male counterparts.
“Betty has successfully implemented best practices from the most successful mobile gaming franchises into the real money iCasino market. We have seen firsthand how these strategies can supercharge user growth and revenues,” said Salim Mitha, Managing Partner at Powerhouse Capital and former EVP at Playtika.
Licensed by the Alcohol and Gaming Commission of Ontario (AGCO), Betty has gained significant traction in Ontario, the largest Canadian province, since launching in February 2023. Betty boasts an eight-figure net revenue run rate that has grown 30% MoM since launch.
The latest infusion of capital will be deployed to further expand user acquisition, improve live operations capabilities, and upgrade Betty's exclusive proprietary platform from Midnight 1 to Midnight 2.
Robin Reed, Managing Partner at HappyHour stated, “Betty has a clear vision and plan to differentiate themselves in the market by prioritizing female online slot players and by building an in-house platform.
It’s a privilege to support their growth, both in terms of capital and product expertise, and we look forward to continuing on this exciting path together.”
About Betty
Betty is a technology company that is reinventing the online casino experience. Betty’s female-focused platform offers a transparent experience and community-oriented gaming. Powered by its proprietary platform, Midnight 1, Betty brings together traditional online slots with mechanics from the most successful free-to-play mobile gaming franchises. The company is based in New York with offices in Sofia (Bulgaria) and Toronto (Canada).
About Betty's Investor Syndicate
CEAS is an early-stage venture fund run by a single-family office based in Delray Beach, FL with the unique flexibility to invest from pre-seed through IPO. Select investments include Fivetran, SeatGeek, and Dataminr.
Powerhouse Capital is a Los Angeles based venture fund focused on media, entertainment & interactive gaming. The Powerhouse team has invested in renowned companies such as Scopely (exit to Savvy Games), The Athletic (acquired by New York Times), Wondery (acquired by Amazon), MasterClass, Fanduel (acquired by PaddyPower Betfair), and other leading tech-driven media companies.
HappyHour invests in iGaming startups with a vision to be a leading capital provider in iGaming by delivering exceptional value for partners and stakeholders. Select investments include Livespins, Flows, Fluid, Kero Sports, and Betty.
Courtside Ventures is a leading early-stage VC fund focused exclusively on the verticals of sports, gaming and lifestyle. Select investments include The Athletic (acquired by New York Times), Beam (acquired by Microsoft), StockX, Winzo and Rei do Pitaco.