Only days after breaking ground with DraftKings and introducing a micro-betting market for the platform, Simplebet has posted another piece of big news. The company has secured $30 million in additional funding from the Anti Fund, an investment vessel associated with Jake Paul and Geoffrey Woo.
Paul, who started as a controversial lifestyle Twitch and YouTube streamer, has switched to professional boxing and has recently won his first serious bout against Tyron Woodley. The latest funding round was also led by Nakisa Bidarian, the founder of BAVAFA Sports. Bidarian is a ticket name in some of the biggest sports and gaming deals, as he also helped shape investment rounds in organizations such as The Action Network, a prominent sports outlet and affiliate company.
For its part, Simplebet will use the additional money to bolster consumer adoption with a particular focus on micro-betting, which is the company’s stomping ground. The company will be able to strengthen its ties with a number of big leagues, including the NBA, NFL and MLB.
Simplebet now has managed to secure a total of $80 million in funding through various rounds, with numerous investors joining each time. Simplebet has received backing from Jim Murren, the San Francisco Giants, Aristocrat and Howard Schultz, as well as Jeff Mallett, David Levy and others.
Commenting on recent events, Simplebet CEO Chris Bevilacqua shared his enthusiasm to see the company secure capital partners who will have a direct stake in boosting overall revenue and distribution. “We couldn’t be more excited to work with Jake, Geoffrey, Nakisa, and the entire Anti Fund team who will support our efforts to accelerate the mainstream adoption of micro-betting across the US,” Bevilacqua asserted.
Building the New Face of Sports, Gambling, Tech and Media
Bevilacqua is confident that Simplebet’s growing purse will have a direct impact on the company’s future success. Bevilacqua wants to see Simplebet prove an intersection for gambling, media, technology and sports, following in the footsteps of all other big players in North America, including DraftKings and FanDuel.
In a similar vein, Paul commented on the company’s success so far and said that Anti Fund was created with the very idea of helping promising companies such as Simplebet make a bigger impact on the industry.
According to Woo, micro-betting is an exciting new frontier for sports fans, and he remains positive that the team built around Simplebet will allow the company to innovate the sports betting industry further. He states, “With the powerhouse team of Jake and me, alongside Nakisa, we look forward to the important work to be done alongside Simplebet’s incredible team.”
Bidarian joined the conversation by adding that “there is a tremendous intersection between betting and media that Simplebet has identified and filled, and I look forward to working with their team and helping lead them towards their full potential.”
Micro-betting has proven an important and exciting market for sports fans who have been looking for a dynamic betting market to engage with. The company essentially allows sports betting operators to improve their live betting products significantly. Simplebet has also offered to team up with media and tech companies, bringing its expertise on the ground level of sports gambling and creating a captivating end-product.