Digital media, content production and events company Parleh Media Group announced its pre-seed financing round has closed. The round saw sports betting industry leaders Benjie Cherniak and Chris Grove join the group as investors.
Business Continues to Grow Exponentially
Parleh Media Group, creators of The Parleh and Parleh TV sources of engaging sports betting news and insights in Canada, announced its C$1 million ($800,000) pre-seed financing round had closed successfully.
The rise of open and regulated sports betting markets has created a once-in-a-generation disruption in the business of sports and media.”
Mark Silver, Founder, Parleh Media Group
Parleh Media said that just a few months after its launch, the demand for its content across digital platforms and through its distribution partners is continuing to experience exponential growth, with viewers mostly engaging with the group’s daily Picks segments.
The addition of Benjie Cherniak and Chris Grove, “two highly-respected leaders in the sports betting industry,” serves as a “validation” that the group is “on the right track,” Mark Silver concluded.
Cherniak to Advise Parleh Media
Cherniak, who served as Managing Director of Don Best Sports and has extensive experience in establishing top-tier operator partnerships across Europe, Asia and the Americas, will serve as an advisor to Parleh Media to support data and media content for sportsbooks.
Drawing parallels with his tenure at Don Best Sports, Benjie Cherniak outlined the “pivotal time” of the group’s launch as the Canadian regulated gaming market is planning to open in the coming months. “[I] am thrilled to support the founders in expanding the business beyond Canada,” the Montreal native added.
‘Impressive Execution’
A partner at Eilers & Krejcik Gaming and an investor and serial entrepreneur in online gambling media, Chris Grove is famous for investing in fast-growing businesses, having a portfolio of some of the most expansive start-ups in sports betting across North America.
Grove noted how he recognized the potential behind Parleh Media’s sports betting content to “fill a void for sports fans” soon after his meeting with the group’s founders following the media’s official launch. “Watching as they paired that potential with impressive execution across acquisitions and organic growth initiatives convinced me to back this management team,” Chris Grove concluded.
The addition of Cherniak and Grove to the list of investors at Parleh is the latest proof of the rising media presence of the media group in Canada and the US and its continuous efforts to expand its footprint, including the launch of Parleh TV Toronto last month to become the city’s first TV channel dedicated to sports news and information.