RLC Ventures are delighted to announce the acquisition of portfolio company Bettingmetrics, led by Martin Grosev, to Malta-based Game Lounge.
We first met Martin back in 2016 when he was participating in the London Metropolitan University Accelerator. Bettingmetrics was just an idea at this point, yet our entire investment team were really impressed by Martin's vision and understanding of his market, as well as his relentless drive.
We were the sole backers of Bettingmetrics across 3 funding rounds. We led their SEIS round in 2016, with follow-on investments coming in 2018 & 2019. General Partner Reece Chowdhry, who sat on the Bettingmetrics advisory board, led all three investments.
"It has been a brilliant journey backing Martin and the Bettingmetrics team, literally from idea to exit. Having been witness to Bettingmetrics rise over recent years, I’m delighted that the team have found the perfect partner for their next phase of growth."
Following RLC's investment, Bettingmetrics went on to develop its offering, which allowed users to place and record bets from one centralised platform. These features have proved popular amongst users looking to centralise their data and make informed decisions in the increasingly fragmented world of online betting.
Martin Grozev, Bettingmetrics Founder and CEO, comments:
“This is a pivotal day for Bettingmetrics. What started as a spreadsheet shared amongst friends has turned into a powerful analytics and education platform used by thousands every week. We’re delighted that, thanks to this acquisition, we will be able to continue our growth, developing ever more advanced software to make the iGaming industry fairer and more transparent. Game Lounge shares our ethics and our vision for the business and we’re looking forward to moving ahead with our plans for growth with their team by our side.”
This resulted in an Exit Pledge of £10,000 which will be used to build a school for underprivileged children in India. This will support Yuva's mission to transform 10,000 schools and impact 5,000,000 children. You can read more about the Venture Pledge at https://rlc.ventures/venture-pledge.