- Jackpocket raised a total of $35 million in its latest Series A funding round.
- Investors included sports owners, athletes, and popular entertainers.
- The company says the new funds will be used to expand via partnerships, acqusition, and aggressive hiring.
Online lottery ticket app and platform Jackpocket announced via a press release on Wednesday that it has raised $35 million in its latest funding round.
Jackpocket’s latest investors include popular sports owners, athletes, entertainers, and other investors.
Said Jackpocket North America CEO Akshay K. Khanna:
“More and more states across the country are now open to online lottery ticket sales, creating a huge opportunity to digitize the industry and bring a better, more convenient experience for the hundreds of millions of Americans who purchase lottery tickets every year. Jackpot’s goal is to become the leading provider of online lottery tickets in the United States. We are grateful for the support of our investors who will help us accelerate our mission to transform the lottery industry.”
Jackpocket’s New Investors
The latest round of investment was co-led by Accomplice and Courtside Ventures with buy-in from the Kraft Group, Sixers owner Michael Rubin, Haslam Sports Group, Elysian Park Ventures, Arctos Sports Partners, Sapphire Sport, Theo Epstein, Mike Gordon of Fenway Sports Group, and Jason Robbins of DraftKings.
NBA teammates James Harden and Joel Embiid, and former NHL star Martin Brodeur also joined the investment group. Likewise, musical artist Lil Baby and several notables from the entertainment industry also chipped in.
Revolutionizing the U.S. Lottery Industry
Jackpocket is a digital platform that is on a mission to revolutionize the $100 billion U.S. lottery industry by facilitating the purchase of lottery tickets online. With Jackpocket, customers will have the option to buy lottery tickets from the comforts of their homes online via desktop or mobile phone.
The online lottery sales platform currently operates in 12 different US jurisdictions, namely Arkansas, Colorado, Minnesota, New Hampshire, New Jersey, New York, Ohio, Oregon, Texas, Washington D.C., and its latest addition, New Mexico. With the new funds, it hopes to expand to other parts of the United States while also making partnerships with state lotteries, strategic acquisitions, and aggressive hiring.