Kinectify, a provider of modern risk-management software designed by AML practitioners, shared that it has raised a preferred seed round. Several notable companies and investors opted to support the compliance firm.
Investors Support Kinectify’s Funding Round
Kinectify’s cutting-edge tech provides operators with compliance solutions that help them navigate the regulatory landscape and prevent fraud on their platforms. The firm’s solutions keep a constant watch on suspicious behavior, allowing gambling companies to dedicate their focus to other things.
In addition, Kinectify offers advisory services to its clients. Operators can, therefore, trust Kinectify and its team of experts with their compliance woes and receive assistance. Companies that use the advisory services can ask for help with compliance deadlines and other compliance issues.
Because Kinectify’s importance to the regulated gambling ecosystem several companies and parties opted to invest in its preferred seed round. The investment was co-led by Acies Investments, the Eastern Band of Cherokee Indians (EBCI) and OpenBet, Kinectify announced.
Other notable investors include Eliers & Krejcik Gaming and The Strategy Organization’s management team. Prominent industry specialists participated as well. The latter include people such as Seth Schorr, Fifth Street Gaming’s chief executive officer, Seth Young, Fifth Street Gaming’s chief strategy officer, Lauren Lemmer, Wagr’s chief compliance officer and Quinton Singleton, a major gambling industry investor.
The Investors Believe Kinectify Is Worth It
The three companies that led the investment round shared their statements on the matter. Acies’ co-founding partner and co-CIO, Edward King, said that his team is excited to partner with Kinectify’s team. King praised the company for its “exceptional AML and compliance platform” that helps many operators across the industry. He also said he believes Kinectify delivers something truly valuable and is worth investing in.
R. Scott Barber, chief executive of EBCI Holdings, shared that his tribe “is proud” to take a part in Kinectify’s investment round. Barber noted that the company has always been a great partner which is why the EBCI is looking forward to launching its platform at the Caesars Southern Indiana casino.
OpenBet’s chief executive, Jordan Levin, revealed that he find Kinectify’s team and products to be impressive. Additionally, he praised the company for innovating and changing how compliance works. Levin added that he is thrilled to work with Kinectify and help it capitalize on the market opportunities ahead.
Joseph Martin, Kinectify’s chief executive officer, thanked all of the seasoned strategic investors that vowed to invest in his company. Finally, he said that this investment will help Kinectify accelerate its mission “provide an all-in-one solution for gaming risk management.”