Bettingmetrics closes its second investment round led by RLC Ventures London

Bettingmetrics (Panorama Partners Ltd), a sports betting platform that allows bet-tracking and analysis, have announced that they have successfully completed their second investment round led by RLC Ventures and its Founder, Reece Chowdhry, who has been serving the company as a Board Advisor.

Bettingmetrics is a platform where betting activities are collated into a single place and where punters and bookmakers are connected like never before. The online platform allows punters to read news, compare odds, place bets, as well as track and analyse their betting performance. After winning the London Accelerator programme, they launched their first prototype in February 2017. Then they raised £25,000 for their first funding round in November 2018 to move the product quickly ahead – since their funding round, they have managed to gather a strong team of developers and marketers to enable them to adopt new technologies. Their focus remains on building a unique platform that combines all betting activities in one place, from reading tips and news, comparing stats and odds to placing the bet and analysing the historical data. They have been able to build a more complete version of the service based on customer feedback and the company’s mission to create a data-driven social betting community.

According to the Bettingmetrics founders, the second-round funding will be used for hiring more developers and marketing professionals. They will stick to their ultimate goal of bringing all betting activities under one roof. The team will develop the platform further to add an odds comparison feature with an exceptionally strong focus on efficient and transparent odds comparison that delivers the best-in-the-industry in-play odds comparison experience. Furthermore, they will enhance their bet tracker and analytics to reach a stage where users will be able to receive betting suggestions on how to improve their betting performance based entirely on their own betting data which is unique. As of now, there are no other providers of similar service. Moreover, as a customer-centric business they will facilitate the use of the product by continuously collecting users’ feedback and by improving UX and UI. Bettingmetrics are currently experiencing approximately 10% monthly growth on the user data base.

Founders of Bettingmetrics, Martin Grozev and Slavomir Semov, have been working on the company since summer 2016 and they are positive about the progress that has been made as well as the future ahead.

“I am exceptionally proud with Bettingmetrics bet tracker and advanced analytics. We are certainly the best sports betting portfolio management software available on the market as of today. Clearly, we are super ambitious as a team and we want to help punters make more informed and data-driven betting decisions. In the very near future, we are taking Bettingmetrics to a whole new level where punters will be able to benefit from an AI algorithm that will analyse their results, and which will provide them with a clear way of how to improve their betting performance. As a person who bets I have always dreamt for that feature. The feedback we have received form Bettingmetrics users have confirmed the huge market need for that specific feature.” – Martin Grozev, co-founder of Bettingmetrics.

“We realise every now and then we want to place a tenner on their favourite team playing on Saturday. Bettingmetrics is a platform that combines all betting activities in one place, as well as an entertainment hub where punters can enjoy reading betting news and tips among the variety educational articles that are available and can be updated on our platform on a regular basis. We have recently launched our first version, and now we are not only the bets sport betting portfolio management software, but we are also a hub where punters can enjoy our newly developed odds comparison. Bettingmetrics odds comparison is really vibrant and it has a strong focus on the in-play experience as well as on the odds updates. As you can imagine I am regular bettor and I really get frustrated when the odds comparison sites quote one odd and when I go to the bookie website it is totally different. Bettingmetrics’ odds comparison resolves that problem, by adopting the news and the most reliable technologies which I am sure people will enjoy.” – Slavomir Semov

Funding

Bettingmetrics was funded by RLC Ventures since their first round. The great traction the product had been able to enjoy initially captured a strong interest from RLC Ventures to invest in the company. RLC Ventures is a seed/early-stage venture capital firm that focuses on backing millennial and diverse founders, in industries such as Fintech, Proptech, Enterprise, Social Impact Tech and AI. Martin describes that “the fundraising process is always an exciting, time and energy-consuming as well as sometimes stressing activity. But I consider the fundraising process as a unique opportunity to get the business critically evaluated by particularly successful people. I enjoy being asked smart and provocative questions.” The last fundraising process itself took between two to three months.

Martin also added, “RLC Ventures helped us in numerous ways. We were very lucky to have Reece from RLC Ventures on our side as he helped us a great deal with leads and introduced us to a lot of investors – some of whom did become investors in Bettingmetrics. Reece is really young and is a proactive individual. He helped Bettingmetrics also by introducing us to the right legal team and, of course, by helping us with everything else we asked him. What impressed me the most was his energy and enthusiasm of getting the job done and that he was available 24/7. That really is the way we work in Bettingmetrics as well so that resonated very well with our team culture and has resulted correspondingly in a successful fundraising.”

Reece Chowhry, CEO and Founder of RLC Ventures, said, “Bettingmetrics has built a world-class analytics and odds-checking platform. The team have demonstrated brilliant traction, growing their user base by 10% per month and achieving solid growth in recurring revenue. We are excited to back the excellent team in this next stage of growth and product development.”

About Bettingmetrics:

Bettingmetrics is an online sports betting platform for bet tracking and analysis. Punters can record their bets, analyse their performance and upload their Betfair and exchange history directly to Bettingmetrics.

Bettingmetrics connects with fans mainly via Twitter and Instagram.

RLC Ventures

RLC Ventures is an award-winning venture capital firm with a thematic approach in high-growth potential, seed and early-stage companies in 5 verticals: Proptech, Fintech, Enterprise, AI and Social Impact Tech run by millennial founders – a unique investment thesis.

RLC Ventures connects with supporters mainly via LinkedIn and Twitter.