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Total amount raised
$100M
Latest funding date
2025-09-18
Location
Betr has raised funding across multiple rounds totaling at least $100 million in disclosed capital, most recently receiving an undisclosed equity investment from NBA stars Lonzo Ball and LiAngelo Ball in September 2025. The platform offers a unique blend of micro-betting, daily fantasy sports (Betr Picks), a full sportsbook, and media content, designed to cater to both seasoned bettors and newcomers.
What Is Betr?
Betr, founded in 2022 by Jake Paul and Joey Levy, is a dynamic player in the gaming, media, and sports betting industries. Based in Miami, Florida, the company has quickly grown to employ over 100 people.
Specializing in direct-to-consumer micro-betting, Betr offers an engaging sports betting experience through its platforms "Betr Picks" and "Betr Sportsbook." The company emphasizes responsible gaming, providing tools to help users manage their betting activities while keeping the experience fun and within personal limits.
How Much Funding Has Betr Raised?
- Undisclosed Round
- Amount Raised: Undisclosed
- Date: September 18, 2025
- Lead Investors: Undisclosed
- Participants: Lonzo Ball, LiAngelo Ball
- Motivation Behind the Round: Strategic equity partnership including the Ball brothers hosting their rebranded podcast on Betr Media and supporting Betr's gaming products ahead of the NBA season.
- Venture Round
- Amount Raised: $15M
- Date: March 6, 2024
- Lead Investors: Harmony Partners, 10X Capital
- Valuation at Round: $375 million
- Motivation Behind the Round: To support expansion plans, including market access for its Online Sportsbook product and the launch of its Casino product; brought total disclosed funding to $100M.
- Series A2
- Amount Raised: $35M
- Date: June 27, 2023
- Lead Investors: IA Sports Ventures (Roger Ehrenberg), Eberg Capital, Fuel Venture Capital
- Valuation at Round: $300 million (pre-money)
- Motivation Behind the Round: To improve the sports-betting experience and continue executing the larger vision of becoming a major player in the sports betting industry.
- Series A
- Amount Raised: $20M
- Date: August 8, 2022
- Lead Investors: Aliya Capital Partners, Fuel Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and scale the company's initial product offerings; part of a combined $50M Series A alongside the initial tranche.
- Series A
- Amount Raised: $30M
- Date: January 20, 2022
- Lead Investors: Florida Funders
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund the initial development and launch of the company's platform.
Total Amount Raised: At least $100M based on disclosed funding (latest round amount undisclosed). Peak Disclosed Valuation: $375M (March 2024).
Key Investors
- Harmony Partners
- Details: Harmony Partners is a growth-stage venture capital firm focused on providing flexible capital solutions to technology companies.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Vroom, The RealReal, Health Catalyst.
- 10x Capital
- Details: 10x Capital is a venture capital firm that invests in high-growth technology companies, known for their focus on disruptive innovation.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Robinhood, DraftKings, Palantir.
- Fuel Venture Capital
- Details: Fuel Venture Capital is a Miami-based early-stage and growth-stage venture capital firm with a diverse portfolio.
- Investment Focus Areas: Technology, consumer products, media.
- Notable Investments: Taxfyle, Soundtrack Your Brand, Ubicquia.
- Aliya Capital Partners
- Details: Aliya Capital Partners is a growth equity and venture capital firm investing across technology and other sectors.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: SpaceX, Palantir, Airbnb.
- Eberg Capital / IA Sports Ventures
- Details: Eberg Capital and IA Sports Ventures, led by Roger Ehrenberg, focus on technology and financial services investments with a strategic approach to venture capital.
- Investment Focus Areas: Technology, financial services, sports and media.
- Notable Investments: Not publicly disclosed.
What's Next for Betr?
As Betr looks to the future, the opportunities are vast. The company is poised to expand its Online Sportsbook product into new states, including Pennsylvania, Ohio, and Virginia. Additionally, the launch of its Casino product and the growth of Betr Media present significant avenues for revenue generation and user engagement.
With a strong track record of securing funds, Betr is well-positioned for future fundraising rounds to support its ambitious expansion plans. The company's recent $15 million funding round, which brought its total funding to $100 million, underscores investor confidence in its growth potential.
However, challenges remain. Navigating regulatory approvals in various states and competing with established players in the sports betting and iGaming markets will require strategic planning and execution. Despite these hurdles, Betr's innovative approach and strategic hires suggest a promising path forward.
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