MyRacehorse raises $7 million to grow racehorse ownership platform

Racehorse ownership platform MyRacehorse has raised $7 million from a group of investors led by Stronach Group.

MyRacehorse’s proprietary platform allows users to analyse racehorses and purchase a fractional share in a horse for a one-time fee. The platform also provides updates from the trainer and jockey and instant payouts of prize money.

Stronach’s 1/ST Racing & Gaming and 1/ST Technology divisions served as lead investors in the funding round.

“1/ST’s mission to introduce and engage the next generation of fans and owners in innovative and entertaining new ways aligns perfectly with the MyRacehorse concept,” said Aidan Butler, CEO of 1/ST Racing & Gaming. “The ability to become an owner of a Thoroughbred racehorse and to be part of an ownership experience that until now has been inaccessible for many, is truly exciting. We have seen first-hand the success of MyRacehorse and we look forward to helping scale this platform across racing, wagering and beyond.”

MyRacehorse is predominantly focused on the United States and Australia and has recently expanded to the United Kingdom and Ireland. It boasts more than 50,000 active owners and 100 active horses who have won over 160 races worldwide with earnings in excess of $20 million.

“This is the ultimate strategic partnership; having 1/ST Racing & Gaming and 1/ST Technology as the lead investors not only provides us the capital to accelerate growth, but the strategic assets and access to enhance the ownership experience for our 50,000 plus racehorse owners,” said Michael Behrens, founder and CEO of MyRacehorse and parent company Experiential Squared.

“1/ST Racing & Gaming and 1/ST Technology are progressive leaders in all aspects of Thoroughbred racing and have been supportive of MyRacehorse since the beginning. The partnership affirms 1/ST’s commitment to growing ownership and further immersing fans in our sport.”