A Nashville-based sports betting creator platform is poised for another year of growth.
SoBet, founded by CEO Cooper Lycan in June 2022, announced the closure of $3.7 million in a seed funding investment, led by Third Venture Capital, with other participants including professional team owners and gaming world executives.
The platform curates sports betting content and insights from over 75 independent creators, according to a news release, distributing 5,000 posts per month to an audience of over 10 million.
“By changing the way next-gen fans fundamentally engage with sports betting, SoBet aims to become a sustainable platform that will condition healthier habits, allows users to monetize their expert insights and simultaneously provide a top-tier entertainment experience that cannot be replicated,” said Lycan in the release. “Our goal is to become the one-stop shop for sports coverage, analysis and entertainment. This investment round puts us on track to consolidate all of these crucial aspects of the betting world under one umbrella.”
SoBet, who also received a $700,000 investment from LaunchTN, will use the funds to attract talent to further UX design, product development and growth marketing.
Since its founding, SoBet has scaled to an annual revenue of over $1 million, growing by the month, and was chosen to be a part of The Techstars Sports Accelerator in 2023
“By delivering expert content in easy to digest methods, SoBet aims to increase transparency and create a more modern sports media ecosystem," Techstars wrote about the startup. "As a creator-led platform, SoBet offers a community-based approach to fan engagement designed to enhance fan experience, foster engagement and healthier habits."
