Sports gaming technology leader Low6 announced Friday that it successfully completed its latest funding round, just ahead of a planned Initial Public Offering (IPO).
Just before IPO, Low6 Completes a Funding Round
Based in Birmingham, UK, Low6 completed its latest round of funding, raising $5 million. The announcement comes just in time with a planned IPO, which is expected to be completed this year. The money raised from the funding round will be used by the company to help fund its ongoing growth. Specifically, the company plans to expand significantly overseas in the US market.
With that in mind, Low6 already inked several key deals, boosting its US expansion. Last year, the company joined forces with the NBA’s Detroit Pistons. This was the latest out of a string of deals inked by the UK-based company. Besides teaming up with the Pistons, Low6 also scored a deal with NFL’s Cincinnati Bengals, as well as the Jacksonville Tigers. As a result, the company was named an official free-to-play partner for the Bengals.
Besides the US, in 2021, Low6 inked multiple agreements with football clubs in the UK. More recently, Low6 appointed Ben Barker as its new chief revenue officer in January. As a proven industry specialist, Barker brings more than 20 years of experience. Before joining Low6, he has taken the role of CMO at Monterosa.
Growing Globally Remains a Strategic Goal for Low6
Jamie Mitchell, the co-founder and group CEO of Low6, revealed that last year was successful for the company. Moreover, he outlined that Low6 has been growing and the recent funding round will help the company continue growing further in 2022.
“2021 was a successful year of growth for Low6, and the conclusion of our latest round of funding will allow us to accelerate our continued development in 2022.”Jamie Mitchell, co-founder and group CEO at Low6
Besides growth, Mitchell revealed that in 2021, Low6 continued to develop products and services. This, according to him, helped the company sign multiple contracts and create new partners. In conclusion, Mitchell said that by securing new funds and multiple new partners, the company is undoubtedly going to have a successful 2022.