Voxbet secures funding from Tekkorp Capital and Waterhouse VC21st December 2021 11:08 am GMT
iGaming technology provider Voxbet has secured strategic funding from a group of international investors led by Matt Davey and Tom Waterhouse.
Formerly known as Onionsack, Voxbet allows sports bettors to request what they want from a sportsbook via text or speech, and will look to accelerate its growth after attracting investment from Davey’s Tekkorp Capital investment vehicle, alongside Waterhouse’s investment fund Waterhouse VC.
The financing will be used to drive Voxbet’s growth internationally, supporting the development of its proprietary natural-language technology, across both voice and text services, and bolstering its product roadmap over the coming 12 months.
“At Tekkorp Capital, we provide a natural habitat for transformative, high-growth igaming businesses,” said Davey. “We’ve observed Voxbet’s impressive development, but have been particularly impressed with their recent strides in the field of speech recognition and natural-language processing, which afford them a material head start in this rapidly evolving industry.
“I expect they will continue to improve and consolidate their existing product offering for geographical expansion. These transformative steps cohere with our own vision around the catalytic power of tech in digital sports betting.”
Waterhouse commented: “The Waterhouse VC Fund aims to generate capital growth by holding long-term strategic investments in companies that can truly shape the future of the sports betting industry. Voxbet’s technology immediately improves and delivers a step change in the UX for international customers, so their credentials leapt off the page.”
Voxbet founder Jonathan Power said: “We’re thrilled to be joined on our journey by such excellent company. In leveraging their collective understanding and expertise, alongside an extensive network of long-standing relationships, Voxbet is instantly better-placed to strategically identify and execute on our next important steps.
“The team’s members have been involved in some of the most defining and instructive transactions in the sector, invariably creating significant shareholder value in the process. Naturally, they bring invaluable advisory acumen beyond their respective investments.”
Voxbet already has partnerships with leading operators including PMU, Betsson, Paddy Power and William Hill.