Genius Sports Group, the parent company of sports betting software provider Betgenius has announced that it has secured £10 million investment from private equity firm Three Hills Capital.
The funding investment was secured through a combination of debt and equity in Genius Sports Group assets. Betgenius will utilise the funds to further international growth of its product range and finance potential strategic acquisitions.
Issuing a corporate statement, governance informed the media that Three Hills Capital recognised the dynamic of Genius Sports Group core products Betgenius and Sports Integrity Monitor
Mark Locke, CEO of Genius Sports Group, said: “We are delighted to welcome on board Three Hills Capital Partners. Their investment will help take Genius Sports Group to the next level, particularly with our plans to grow further internationally and extend our business verticals.
“We have an aggressive growth strategy, which will see our business gain a stronger presence in a number of new territories and markets, including North and South America. We also have our sights firmly set on acquisition opportunities in addition to adding new products and clients to the portfolio.
“The future continues to look positive for the Group and we have aligned our objectives to match anticipated movements in both the sports and betting industry sectors. The investment from Three Hills Capital Partners allows us to meet our goals much faster than would otherwise have been possible.”
Mauro Moretti, Founder of Three Hills Capital Partners, commented on the funding
“The investment in Genius Sports Group marks another step in THCP’s development into the UK market. Backing a leading player, in the hands of an experienced and driven management team and operating in a high-growth market, represents a unique opportunity for us. The sector’s increasing regulation will with no doubt leave as winners the most internationally established and best technically prepared players such as Genius Sports Group, and create consolidation potential in the near future.”