Derby Games closes $6.5 million funding round

debyjackpots.New York based online gambling start-up Derby Games has closed a $6.5 million funding round. VC firm Bullpen Capital announced that it had contributed the majority of funding.

The start-up specialises in virtual pari-mutual wagering for US consumers through its Derbyjackpots.com game, stated that it would use the raised funds to help it acquire top engineering and operational talent, in order to strengthen its position in the emerging legal US betting market.

Derby Games further stated that it would continue to develop new products focusing on mobile and real money engagement.

Tom Hessert, CEO and co-founder, Derby Games

“With a platform that is legal and regulated for 80% of American adults, Derby Games is in a perfect position to win in online gambling. This funding and the support of great investors like Paul Martino, Alexis Ohanian and Gerry Andlinger will help us to grow even faster, identify new opportunities and execute on our mission to build the largest community of real money gamers in the U.S.”

Paul Martino,  Managing Director of Bullpen Capital, has been appointed to Derby Games’ board of directors.

“We are very excited about Derby Games, the most popular regulated RMG social platform in the U.S. “Their entertaining games and opportunities to win real money are very compelling to a completely new generation of gamers, most of whom have never before bet on horses. The gameplay is fantastic and the potential is huge.”said Paul Martino, co-founder and managing director, Bullpen Capital

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