Dallas-based nVenue has partnered with North Carolina-based EBCI Holdings as part of a $1 million funding agreement, according to a news release.
According to the release, EBCI Holding’s investment in nVenue is an extension of a $3.5 million seed round announced in February, totaling $4.5 million.
“Our investments are geared towards product market fit with a client-based focus. Not only are we investors, but we become users of the products. We instantly recognized the innovative micro-betting technology nVenue has created for the betting industry,” Scott Barber, CEO of EBCI Holdings, said in the release. “We believe micro-betting will be the next big thing in sports betting, so a strategic investment in nVenue’s future seemed like a perfect fit.”
nVenue currently partners with the MLB to power predictive analytics based on its NextPlay micro-betting platform. The company said it has surpassed more than 90 million predictions across multiple sports.
“We are honored to have EBCI as a strategic investment partner in nVenue. The decision to extend our seed round to include EBCI was an easy choice,” Kelly Pracht, co-founder and CEO of nVenue, said in the release. “Their vision for investing in emerging technology synched seamlessly with our mission to drive innovation through our micro-betting technology to power the next generation of sports betting.”
EBCI Holdings is the commercial gaming arm of the Eastern Band of Cherokee Indians.
