Bettormetrics has successfully attracted Series A funding from investors Bettor Capital and Velo Partners.
Launching in 2022, the UK sports betting analytics provider has managed to expand its customer portfolio across the US and Europe with bookmakers who are utilising the company’s cloud-based analytics technology.
With the new funding, Bettormetrics will seek to further grow its client base by building up its sportsbook analytical platform and optimising its trading desk’s performance.
Robert Urwin, Co-founder and CEO of Bettormetrics, said: “We are delighted to be working with specialist investors who share our vision of data-driven Sportsbook optimisation. Big data analytics are a game changer when it comes to identifying and removing the key repeating deficiencies in trading operations.
“Most sports desks are completely unaware of the impact poor suspension and price position can have on their overall GGR. Our clients tend to be progressive data-centric companies who are looking to use cutting-edge analytics to deliver a sustainable competitive advantage, and a significant uplift in GGR.”
Bettormetrics leverages the latest trends in data technology to identify patterns of profitable behaviour through statistics to give its clients an edge against their competitors.
This has been acknowledged by the two new investors, with Peter Heneghan of New York-based Bettor Capital commenting: “We are excited to back the Bettormetrics team as they continue to deliver significant value to sports betting trading teams with their industry-leading trading analytics platform.
“Rob, Roger and the rest of their team have first-hand experience dealing with the challenges that trading teams face on a daily basis, and are on a mission to provide a solution to help trading teams navigate these challenges.
“With the continued proliferation of in-play betting and a greater number of betting markets being offered, there is strong market demand for more powerful analytical tools to monitor pricing, risk management and betting activity in real-time, and the Bettormetrics team has built a platform that helps operators solve these to maximise the efficiency of their trading operation.”
Evan Hoff from London’s Velo Partners also took time to highlight Bettormetrics’ recent growth and potential to bring a ‘transformative’ sports betting experience for bookmakers.
“We are thrilled to continue our support for Bettormetrics as they embark on this exciting phase of growth,” Hoff said. “Bettormetrics has demonstrated unparalleled prowess in the sports betting analytics space, providing indispensable insights for operators in an increasingly dynamic market.
“We believe in the transformative power of data-driven solutions, and Bettormetrics is at the forefront of driving positive change in trading operations.”