Compliance and AML start-up Kinectify attracts investment from top early-stage investors

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AML platform Kinectify has raised a preferred seed round co-led by OpenBet, Acies Investments and the Eastern Band of Cherokee Indians (EBCI).

The seed round also saw participation from Eilers & Krejcik Gaming and other prominent gaming executives including Seth Schorr, CEO of Fifth Street Gaming; Seth Young, chief strategy officer of Fifth Street Gaming; Quinton Singleton, industry veteran venturer and investor; Lauren Lemmer, chief compliance officer & head of operations for Wagr; and the management team at The Strategy Organization.

“We are excited to partner with such seasoned strategic investors from inside gaming including suppliers and operators with deep expertise like OpenBet, Acies Investments, and EBCI,” said Joseph Martin, CEO of Kinectify.

“This investment will accelerate our mission to provide an all-in-one solution for gaming risk management,” he added.

Kinectify CEO Joseph Martin: “We are excited to partner with such seasoned strategic investors from inside gaming including suppliers and operators with deep expertise like OpenBet, Acies Investments, and EBCI.”

Kinectify is a fully configurable AML platform that integrates operator data into a single view and workflow.

“EBCI is proud to be participating in Kinectify’s latest investment round,” said EBCI CEO R. Scott Barber. He added that Kinectify has been a great partner and that EBCI is excited to launch Kinectify’s platform at its Caesars Southern Indiana property and future locations.

Jordan Levin, CEO of OpenBet, said: “We have been impressed by Kinectify’s team and product which fills a long-standing need in the gaming industry.

“As the company continues to innovate and change the compliance industry, we’re thrilled to partner with them as they capitalise on the sizeable market opportunity ahead,” he added.

In addition to its platform, Kinectify offers advisory services that enhance customers’ capacity with industry experts who can design and test programmes, help meet compliance deadlines, and allow customers to outsource the day-to-day administration of their compliance programmes to Kinectify.

Edward King, Acies’ co-founding partner and co-chief information officer, said Kinectify’s AML and compliance platform addresses “mission critical services” for both the land-based and mobile gaming ecosystem.

“We firmly believe Kinectify’s position in the market is unique and delivers truly valuable technology to its clients,” he added.

About the author

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Sonja Lindenberg

Sonja Lindenberg is an experienced editor and journalist, with a strong focus on business, finance, trade and investment. She holds a degree in business journalism and throughout the past two decades has covered companies and industries in various markets and for different media, including newspapers, news agencies, inflight magazines, country reports and trade publications. Sonja joined iGaming NEXT in June 2022.

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