Xpoint, the leading geolocation technology company specializing in sports betting, iGaming and daily fantasy sports (DFS) operators in North America, has announced a multi-million dollar round of investment funding that will support the company’s continued growth in the USA, Canada and worldwide. Xpoint welcomes Acies Investments, The Raine Group and SuRo Capital Sports as new investors, joining existing investors Bettor Capital and Courtside Ventures, both of which have increased their investment as part of this new funding round.
“We’re honored to have Acies Investments, The Raine Group, and SuRo Capital Sports join Bettor Capital and Courtside Ventures as investors in Xpoint,” commented Marvin Sanderson, CEO and Co-Founder of Xpoint. “This news comes at an exciting stage of our growth and development, and these new funds will serve to accelerate our efforts to service the regulated North American online gambling market.
“These are exciting times for Xpoint,” Sanderson continues. “We are now live in both New Jersey and Ontario with multiple partners using Xpoint Verify, our real-money gaming product, to fulfill their geolocation needs. Additionally, Xpoint Lite, our product designed specifically for daily fantasy sports operators is live across the United States with multiple partners, with more being added every week.”
As part of the investment round, David VanEgmond, Managing Partner of Bettor Capital, will join Xpoint’s board of directors. “We’re thrilled to double down on our support of XPoint as the Company accelerates their product roll-out. We know how critical regulatory and compliance technology is in this industry and have seen how XPoint’s best-in-class software provides significant value to its sportsbook and casino operator clients” said VanEgmond.
Dan Fetters, Co-Founding Partner and Co-CIO of Acies Investments, added: "We are excited to partner with Marvin and the Xpoint team who have created an exceptional geolocation platform that addresses mission critical services and provides valuable customer insights to the online gaming industry. We firmly believe Xpoint delivers truly valuable, differentiated technology to its clients.”
Xpoint is licensed and regulated across multiple North American jurisdictions to provide essential geolocation security solutions and intelligent location-based marketing insights to the sports betting and iGaming industries. Xpoint’s innovative Verify and Lite platforms ensure that partners meet their regulatory geo-compliance obligations while also providing advanced geo-location insights that operators can leverage to drive operational and marketing efficiencies. Recently nominated for two 2022 SBC North America Awards, Xpoint was founded in 2019 and officially unveiled in Las Vegas in 2021. The Company is led by its CEO and Co-Founder Marvin Sanderson, a global sports betting and iGaming industry leader. With North American offices in Toronto and Miami, Xpoint is changing the global geolocation market, bringing innovation to an industry that has, to date, viewed geo-compliance as a utility, not a new business opportunity. For more information, visit xpoint.tech and follow LinkedIn and Twitter for regular updates.