E-commerce platform company Winible announced a $6 million seed funding that will help the company tackle the growing sports betting sector.
What Happened: Winible was launched as a platform targeting sports influencers and experts. The company helps monetize insights and predictions on the platform in an attempt to transform the sports betting and gaming markets.
On Tuesday, the company announced $6 million in seed funding led by Inspired Capital. Other investors in the round include NFL legend Ray Lewis, investors Kyle Christensen, Jamie Sharp, Adam Breneman, Jesse Boskoff, David Petersen, Michale Flaxman, Adam Lyons and PrizePicks CEO and co-founder Adam Wexler.
Together, the list of investors has experience with sports betting companies, social media platforms and sports team ownership. Several of the world's top handicappers were also included as investors in the seed funding round.
"We're thrilled to announce the successful $6M seed funding round, a key milestone for Winible as we revolutionize the sports betting and gaming communities. Winible provides a secure and professional platform for sports influencers to monetize their insights with customizable digital storefronts and subscription models," Winible co-founder and CEO Noah Traisman said.
Inspired Capital Partner Mark Batsiyan said the company is excited to support Winible as they continue to grow.
"With a growing number of states legalizing sports betting, there is a new audience interested in betting insights and advice. Winible helps legitimize and professionalize the work of cappers by providing the infrastructure," Batsiyan said.
Christensen said there is "untapped potential for influencers in the gaming space."
"Winible has nailed the value for both the pros and followers. I couldn't be more excited to join the team," Christensen said.
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Why It's Important: With a stealth launch in 2023, Winible has quickly grown in the sports betting space, signing up thousands of users per week, according to the company. Winible is enjoying organic growth, without spending on marketing currently.
The company's platform is hoping to transform the existing practice of using platforms like Discord and Telegram for sharing sports betting insights and predictions, which often depend on less reliable payment methods.
Winible offers payment solutions along with subscription management, SMS notifications, customers support, custom discount codes and self-service free trials for its customers.
"The significant organic growth since our stealth launch in 2023 highlights the demand for a reliable and innovative platform. With support from investors, industry leaders, and our dedicated team, Winible aims to be the go-to destination for ‘betrepreneurs,'" Traisman said.
Winible has over 75,000 active subscribers and over $30 million in bets places with sportsbooks, daily fantasy sports and pick'em apps. The company said it has 100 of the top influencers in the space on the platform.
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Photo Courtesy of Winible
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