Geolocation technology company with licenses in several online gaming, daily fantasy sports, and sports betting markets in North American jurisdictions Xpoint has welcomed three new big investors during a new round of funding. The list includes The Raine Group, SuRo Capital Sports, and Acies Investments. The trio will be joining current investors Courtside Ventures and Bettor Capital in an effort to support the ongoing development of the in the USA, Canada, and other parts of the world.
Existing Investors Increased Their Contribution amid the New Funding Round
Both Courtside Ventures, a technology, information, and Internet company created with the help of highly trained investors and entrepreneurs, and Bettor Capital, an early-stage venture company focused on real-money online gaming have decided to boost their contribution as a result of the new round of funding.
Xpoint’s chief executive officer and co-founder Marvin Sanderson spoke about the company’s honor to be welcoming the three new investors. He also called the news “an exciting stage” of their ongoing growth, explaining how the new funds would be used to step up their efforts to cater to the needs of the regulated North American online gaming market.
The CEO also described the news of the million-dollar investments as “exciting times for Xpoint,“ adding that the company was currently live in Ontario and New Jersey thanks to several partners making use of Xpoint Verify. This is Xpoint’s real-money gaming product used to cater to all geolocation needs. Xpoint Lite, the company’s daily fantasy sports product, is also live in the US via several partners. More Xpoint Lite partnerships are expected to be signed the following week.
Bettor Capital’s Managing Partner to Join Xpoint’s Board of Directors
The same round of investment sent Bettor Capital’s managing director David VanEgmond straight on Xpoint’s board of directors. Commenting on his company’s decision to fund Xpoint, VanEgmond expressed their thrill “to double down” on their support of Xpoint on its way to rolling out its products to a wider public. He also acknowledged Xpoint’s software, calling it “best-in-class” and describing the way it offers “significant value” to all casino and sportsbook operators.
Acies Investments’ co-founding partner and co-chief information officer Dan Fetters expressed their excitement to join the Xpoint team, calling their geolocation platform an “exceptional” one addressing “mission-critical services” while offering “valuable customer insights to the online gaming industry.”
Founded in 2019 and officially presented in Vegas two years later, Xpoint was nominated for two important SBC North America Awards in 2022. At the beginning of the month, Xpoint partnered with BettorFantasy for the launch of its Xpoint Lite product. Last week, Xpoint Verify went live with Sporttrade in New Jersey.