Youbetme secures $2.7 million Series A funding

Youbetme – San Francisco

Social betting app Youbetme, has secured a Series A funding of $2.7 million (£1.6 million).

Launched in January by founders Justin Jarman and Jason Neubauer, the app aims to make casual bets between friends easier to manage and more fun to take part in. Youbetme has labelled itself as the sporting handshake of the future.

Youbet reports that the App has reached the number 5 spot in the App store and to date has surpassed over 100,000 downloads

The Series A funding has seen contribution from venture capital investors’ SierraMaya360, DVG and Abingdon Capital. As part of the funding deal, angel investor and Bills.com founder Brad Stroh will join the start-up as a strategy advisor.

This latest round of funding sees the San Francisco based start-up reach $3.9 million in funding to date.

Youbet will use the capital raised to secure new talent to develop its product in the coming months.

The Youbetme app features the following mechanisms