Betty, the online casino with a focus on the female gaming audience, has successfully secured $5 million in pre-Series A funding, marking a significant milestone as the company gears up for its forthcoming Series A round.
CEAS Investments led the funding round, joined by existing investors Powerhouse Capital, HappyHour, and Courtside Ventures. This comes on top of Betty's previous funding of $7 million.
Betty has carved a niche in the online casino industry by tailoring its offerings specifically to the female gaming community. Emphasizing transparency, community-driven gameplay, and gamification of traditional slot experiences, Betty has experienced remarkable growth, boasting a threefold higher retention rate among female players compared to their male counterparts.
Salim Mitha, Managing Partner at Powerhouse Capital and former EVP at Playtika, commented, “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.”
Licensed by the Alcohol and Gaming Commission of Ontario (AGCO), Betty has gained substantial traction in Ontario, the largest Canadian province, since its launch in February 2023. The online casino currently maintains an eight-figure net revenue run rate, exhibiting a 30% Month-over-Month growth since its inception.
The newly injected funds will be strategically utilized to further expand user acquisition efforts, enhance live operations capabilities, and upgrade Betty's exclusive proprietary platform from Midnight 1 to Midnight 2.
Robin Reed, Managing Partner at HappyHour, expressed enthusiasm, stating, “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.”