SoBet Raises Millions In Seed Funding For Growth

Tennessee-based SoBet, an online site offering sports betting advice and analysis, has raised millions to strengthen its growth strategy, the company announced.

The $3.7 million seed-funding investment, spearheaded by Third Kind Venture Capital, reflects investors' confidence in SoBet’s “ability to hyper-target younger audiences online and deliver more modern and engaged fan experiences,” the company said in a statement.

On SoBet’s website and mobile app, bettors and sports fans can interact with experts to receive wagering advice and share information.

Cooper Lycan, SoBet’s founder and CEO, said the company’s goal “is to become the one-stop shop for sports coverage, analysis, and entertainment.”

“This investment round puts us on track to consolidate all these crucial aspects of the betting world under one umbrella,” he said.

SoBet Seeks Top Talent

With its headquarters in Nashville, SoBet, since launching in June 2022, has attracted more than 50 “independent creators,” the company said.

“SoBet's community-driven approach allows the platform to distribute close to 5,000 posts per month, ranging from in-depth game analyses and transparent picks to more entertainment-focused content,” the company said.

According to the statement, SoBet will use the investment to attract “top talent with a focus on product development, UX design and growth marketing. "

The company’s mobile app notes that its sports betting experts “don’t just offer bets—they provide a deep dive into player analytics, game insights and statistical breakdowns, ensure you’re armed with all you need to make informed, value-driven decisions.”

SoBet’s mostly pro-fee on its app is $14.99.