San Francisco-based venture capital fund Bullpen Capital has made an undisclosed investment in iLottery games provider EQL Games.
EQL said that the investment from Bullpen, which invested in FanDuel in 2012 and Jackpocket in 2016, will enable the company to accelerate innovation, further its reach, and deliver elite games to lotteries worldwide.
The supplier currently has a strong foothold in the United States, providing games for the Michigan, Virginia, and Washington DC lotteries, and is in active discussions with several additional state lotteries.
Internationally, EQL is working with lotteries in the United Arab Emirates and Peru, and plans to expand into Europe over the next year.
“Lottery is one of the most widely played games in the world, yet it’s been historically underserved when it comes to innovation,” said Bullpen Capital general partner Paul Martino. “EQL Games is bringing modern infrastructure and content to a massive, regulated market – and doing so with a deep understanding of what government partners and players want. We believe they’re positioned to be the backbone of digital lottery.”
EQL Games CEO Brad Cummings commented: “This investment from Bullpen Capital is a major validation of our mission. We’re excited to have a partner who’s been at the vanguard of regulated markets and gaming. With Bullpen’s help, we’re going to help lotteries with innovation and growth, especially on the digital side of the business.”
EQL recently released its second proprietary eInstant lottery game for the Michigan Lottery in partnership with the NFL’s Detroit Lions, Detroit Lions End Zone Rush.
The game follows on from the success of the Detroit Tigers Grand Slam game, which was released in April.
“I am thrilled to partner with EQL to launch the Detroit Lions End Zone Rush online game,” said Michigan Lottery Commissioner Suzanna Shkreli. “Working with EQL allows us to bring innovative and exciting games to Michiganders while supporting public education in communities throughout the state.”