$/€ Jake Paul’s Betr Lands $ 15M Funding, Hits $ 375M Valuation
Kate Marshal
11 March 2024
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Pictured: Jake Paul, Betr’s founder
Betr, the betting startup founded by American influencer Jake Paul, has raised $15 million in a new funding round, valuing the company at $375 million.
The company, which launched in 2022, has received a total of $100 million from various investors, demonstrating the strong interest in the venture.
David Weisburd, co-founder and head of Venture Capital at 10x Capital, one of Betr’s investors, compared Betr to DraftKings, the leading online sports betting company in the US, saying, “We believe that Betr has the product, management, and market opportunity that we saw in DraftKings in its early days, with a significantly larger TAM and room for growth today.”
The new funding will help Betr expand into new states, with plans to enter Pennsylvania, Colorado, Indiana, and Kentucky.
In 2023, Betr entered Virginia, its third state after Ohio and Massachusetts.Betr is a sports betting company founded by Jake Paul, has attracted investments from several celebrities, such as rapper Travis Scott, footballer Ezekiel Elliott, and others.
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