The seed round was led by early FanDuel investor Karlani Capital, with venture capital firms Boston Seed, Velo Partners, Azure and Oakvale investing in the mobile-centric sports data enterprise.
Further joining RotoQL’s early investment round, is leading US sports and betting data provider Don Best.
Founded by the number one ranked Daily Fantasy Sports (DFS) player Saahil Sud (COO) and Justin Park (CEO), RotoQL has created a portfolio of sports data tools and technologies aimed at better informing and engaging viewers with in-play sports content.
“We see it as an over $6 billion annual opportunity in the U.S. regulated sports betting market by 2023 with only a subset of states participating,” said Justin Park, CEO and Founder of RotoQL.
“The industry will need to reduce the friction for bettors who are currently wagering through offshore services, and especially address new bettors who are not wagering at all because they view it as too complicated.”
Updating the market, RotoQL will use its secured capital to grow its resources and build up its commercial channels for the US DFS markets.
Further to its announcement RotoQL has launched its new tailored BetQL product for the pending US licensed sports betting market.
“BetQL will focus on providing data designed to aid players in “bet discovery” — guiding them to the value on the betting board. The product will be launched against the possibility of a positive ruling in favour of New Jersey to overturn the Professional and Amateur Sports Protection Act, or PASPA” details RotoQL in its corporate statement.
Investor Benjie Cherniak, President of Don Best, commented on backing the RotoQL venture “RotoQL has established itself as a leader in the B2C fantasy space, as evidenced by their rapid growth and passionate user base. With legalized US sports wagering set to become a reality in the months ahead, RotoQL is perfectly positioned to penetrate the B2C sports betting space via their unique mobile-first offering, BetQL. This is a textbook example of the right product at the right time in the right place.”