Betty, the female-focused online casino, announced today that it has raised $5 million in pre-Series A funding led by CEAS Investments as the company approaches its upcoming Series A round.
Also participating in the round are Powerhouse Capital, HappyHour, and Courtside Ventures. Betty has previously raised $7M.
Betty has harnessed the power of the female gaming audience to create a unique online casino experience. Betty’s offering focuses on transparency, community-based play, and gamification of the traditional slot experience, all catered to female players. This focus has allowed Betty to stand out from other services, resulting in phenomenal growth and the ability to retain female players at a rate three times higher than their male counterparts.
“Betty has successfully implemented best practices from the most successful mobile gaming franchises into the real money iCasino market. We have seen firsthand how these strategies can supercharge user growth and revenues,” said Salim Mitha, Managing Partner at Powerhouse Capital and former EVP at Playtika.
Licensed by the Alcohol and Gaming Commission of Ontario (AGCO), Betty has gained significant traction in Ontario, the largest Canadian province, since launching in February 2023. Betty boasts an eight-figure net revenue run rate that has grown 30% MoM since launch.
The latest infusion of capital will be deployed to further expand user acquisition, improve live operations capabilities, and upgrade Betty’s exclusive proprietary platform from Midnight 1 to Midnight 2.
Robin Reed, Managing Partner at HappyHour stated, “Betty has a clear vision and plan to differentiate themselves in the market by prioritizing female online slot players and by building an in-house platform. It’s a privilege to support their growth, both in terms of capital and product expertise, and we look forward to continuing on this exciting path together.