During a fresh round of investment, Xpoint, a geolocation technology business with licenses in multiple online gaming, daily fantasy sports, and sports betting markets in North American jurisdictions, received three new major investors. 

New investors will now support the firm’s expansion. The Raine Group, SuRo Capital Sports, and Acies Investments are investment firms.

The three will join existing investors Courtside Ventures and Bettor Capital in an effort to assist the expansion of the United States, Canada, and other regions.

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Existing Investors’ Contributions Increased During the New Funding Round

As a result of the new round of funding, Courtside Ventures, a technology, information, and Internet company founded by highly trained investors and entrepreneurs, and Bettor Capital, an early-stage venture capital firm focused on real-money online gaming, have decided to increase their contributions.

Marvin Sanderson, co-founder and chief executive officer of Xpoint, stated that it was a pleasure to welcome the three new investors. He also referred to the development as “an exciting milestone” in the company’s ongoing expansion, describing how the extra money would be used to increase their efforts to serve the regulated online gaming industry in North America.

The CEO also called the news of the million-dollar financing as “exciting times for Xpoint,” saying that the company was currently operational in Ontario and New Jersey due to the adoption of Xpoint Verify by many partners.

 This is the Xpoint product for real-money gambling that caters to all geographic requirements. The company’s daily fantasy sports product, Xpoint Lite, is also available in the United States through a number of partners. Next week, additional Xpoint Lite partnerships are anticipated to be signed.

The Managing Partner of Bettor Capital will join Xpoint’s Board of Directors

The same round of funding placed David VanEgmond, managing director of Bettor Capital, on the board of directors of Xpoint. VanEgmond, commenting on his company’s choice to invest Xpoint, emphasized their excitement to “double down” on their support of Xpoint as it prepares to launch its products to a larger audience. In addition, he praised Xpoint’s software, dubbing it “best-in-class” and outlining how it provides “substantial value” to all casino and sportsbook owners.

Dan Fetters, co-founding partner and co-chief information officer of Acies Investments, is ecstatic to join the Xpoint team, praising its geolocation technology as “outstanding” for tackling “mission-critical services” and providing “important customer insights to the online gaming business.”

Xpoint was nominated for two significant SBC North America Awards in 2022, two years after its founding in 2019 and presentation in Las Vegas. Xpoint teamed with BettorFantasy to introduce its Xpoint Lite product at the start of the month. Sporttrade in New Jersey went live with Xpoint Verify last week.