Betty, the online casino with a strong focus on the female gaming audience, has recently secured $5 million in pre-Series A funding in a round led by CEAS Investments.
Notably, this fundraising effort comes as Betty gears up for its upcoming Series A round.
Other participants in this round include Powerhouse Capital, HappyHour, and Courtside Ventures.
Betty had previously raised $7 million in previous funding rounds, highlighting the growing confidence in the platform.
Betty’s success lies in its unique approach to the online casino experience, tailored specifically for female players.
The company places great emphasis on transparency, community-based play, and gamification of traditional slot games.
This tailored approach has set Betty apart from other services, resulting in remarkable growth and an impressive ability to retain female players at a rate three times higher than their male counterparts.
Salim Mitha, Managing Partner at Powerhouse Capital and former EVP at Playtika, praised Betty’s strategy, stating, “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.”
Betty is licensed by the Alcohol and Gaming Commission of Ontario (AGCO) and has gained significant traction in Ontario, Canada’s largest province, since its launch in February 2023.
The company proudly boasts an eight-figure net revenue run rate, which has consistently grown at an impressive 30% month-over-month since its inception.
The fresh injection of capital will be strategically utilized to further expand user acquisition efforts, enhance live operations capabilities, and upgrade Betty’s exclusive proprietary platform from Midnight 1 to Midnight 2.
Robin Reed, Managing Partner at HappyHour, expressed support for Betty’s vision, saying, “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.”
With this latest funding round, Betty is well-positioned to solidify its position as a leading online casino platform catering specifically to the female gaming audience, driving innovation and growth in the industry.