Rithmm, Inc, a Boston-based startup specialising in AI-driven sports betting technology, has successfully closed a $2m seed funding round led by prominent investors, including Boston Seed Capital, Counterview Capital, Oyster Ventures, Correlation Ventures, Service Provider Capital and Permit Ventures.
This capital infusion will propel the company’s expansion and enable the highly anticipated launch of its NFL product, while further enhancing the platform’s capabilities and empowering sports bettors worldwide.
Rithmm has developed a sports betting platform that leverages the power of advanced analytics and an intuitive user interface, enabling bettors to build custom analytical models easily and use them to make smarter and more informed betting decisions.
The platform eliminates the complexity and barriers associated with traditional sports betting analytics, making it accessible to users of all skill levels.
Megan Lanham, CEO of Rithmm, says: “We have secured VC investment despite an uncertain economic climate, underscoring the unwavering confidence in our mission and the tremendous potential of our platform.”
Rithmm’s platform enables users to build customised analytical models backed by AI, tailoring betting strategies to their own instincts and preferences. The custom models then provide comprehensive analysis for every game, including recommended picks, predicted outcomes, win probabilities and expected values. The platform’s user-friendly interface and intuitive design make it accessible to sports enthusiasts of all levels, empowering them to compete like professional sports bettors.
Peter Blacklow, Managing Director at Boston Seed Capital, adds: “We believe that Rithmm is poised to disrupt the industry by providing users with advanced analytics and insights previously reserved for professional sports bettors.
“Their AI-driven platform has the potential to level the playing field and transform the way sports bettors approach strategy. We are thrilled to support Rithmm in their mission to redefine the sports betting experience.”
Rithmm is launching an NFL product to complement its products in the NBA, WNBA, NCAA Basketball and NCAA Football. Additionally, the investment will support research and development initiatives, talent acquisition, and marketing efforts to reach a broader audience.