Micro-betting provider Kero Gaming closed on $3 million in new funding Tuesday.
Key takeaways
- The micro-betting odds-feed provider plans to use the investments to rapidly expand its business.
- This announcement comes four months after the provider partnered with Caesars Sportsbook.
- This form of wagering has exploded in recent years.
The company announced investments from SIG Sports led the Series A round, along with other groups who also previously funded Kero Gaming.
"This funding round marks a significant milestone for Kero as we enter a phase of accelerated growth," Tomash Devenishek, Kero Gaming CEO and Founder, said. "With SIG Sports' lead investment and board participation, we're well-equipped to ensure that the industry has a long-term, trusted provider delivering robust offerings that meet the evolving demands of operators worldwide."
Miami-based Kero Gaming, which provides real-time contextual betting for more than 180 sportsbooks internationally, plans to use the financing to accelerate expansion of its “algorithmically-curated” odds feeds.
Rapid growth
Founded in 2020, Kero’s presence has grown rapidly. The provider partnered with Caesars Sportsbook in January, when the online sports betting operator switched to Kero Gaming’s international platforms.
“Kero Gaming has demonstrated exceptional growth and innovation in the micro-betting space," said Joe Grubb, Vice President at SIG Sports. "We're excited to deepen our partnership and support their mission to lead this exciting capability in oddsmaking for one of the highest growth categories within sports entertainment."
Micro-betting explosion
Operators don't typically share specific revenue figures from micro-betting, but it has become one of the sports wagering industry's rapidly growing segments. The ability to bet on specific plays in football or a pitch in baseball exploded in recent years as technological improvements allow customers new markets and ways to make in-play wagers.
Kero Gaming offers an algorithm that gives bettors live-betting experiences in seconds on major sports, including soccer and college athletics.
“As European and global operators begin to embrace this dynamic form of betting, Kero is uniquely positioned to lead the charge, bolstered by its recent funding and strategic market expansions,” the company stated in its press release.
