Betegy scores multi-million euro cash injection from venture capital firm Yolo Investments
Content automation and personalisation provider Betegy has partnered up with venture capital firm Yolo Investments to drive the next stage of its global expansion.
Estonia-based Yolo will take a non-controlling stake in the firm in return for a multi-million euro investment.
The exact sum has not been disclosed, but iGaming NEXT understands the capital injection was somewhere in excess of €5m.
The funds will be used to help scale Betegy’s platform further. Using machine learning algorithms, Betegy operates an automated content generation and production system that turns complex sports data into personalised digital and broadcasting graphics, as well as animations, banners, landing pages, widgets, and texts.
Commenting on the investment, Betegy CEO Alex Kornilov said: “Our system’s innovative approach has enabled us to be the first in the industry to bring the instant creation of data-driven visual content for all communication channels, including social media, TV production, retail, paid acquisition, SEO, sports media and affiliate marketing.
“This is unprecedented in terms of the deep personalisation of visual marketing campaigns we’re able to deliver, and this is where we truly make a difference – by being able to personalise campaigns that resonate with multiple audiences instantaneously.
Yolo Investments general partner Tim Heath: “Investing in Betegy made perfect sense because we see an opportunity for significant synergies across the Yolo Investments ecosystem.”
“We’re very proud to be partnering with one of the iGaming industry’s most innovative and dynamic companies for our next stage of growth, and we can’t wait to get started together,” he added.
Betegy’s clients span major organisations in sports, gaming, television and digital media, including ESPN, Entain, Ringier Axel Springer, bwin, Yahoo Sports, Sportsbet.io, 22bet, Parimatch, PokerGo and Winners.net.
“Investing in Betegy made perfect sense because we see an opportunity for significant synergies across the Yolo Investments ecosystem,” said Tim Heath, founder and general partner at Yolo Investments.
Yolo holds investments in more than 80 companies with total assets under management in excess of €375m.
“Betegy’s products are already being used by some of the biggest names in gaming, and we’ll be working closely with the team to help it on the next step of its journey,” Heath added.
Betegy’s latest investment round builds upon the company’s partnership with JKR Investment Group, which has provided the foundation for Betegy’s initial expansion into the US market.