Esports betting platform Midnite has successfully closed a $16m ‘Series A’ funding round, supported by existing investors and led by DraftKings investor, The Raine Group.
John Salter, co-founder and partner at The Raine Group joins the Midnite Board and their Managing Director Garrett Gomes becomes a Board Observer.
Midnite provides betting services for sports and esports through its sportsbook section, as well as a platform for players to bet on their own gameplay called CashMode. The proceeds from this funding round will finance growth, and later this year Midnite plans to launch a casino app, “with UI and features designed specifically for gamers.”
Nicholas Wright, Midnite’s founder, said: “We pride ourselves on leveraging the best forms of technology, fan-centric features and in-house models to offer next-level experiences to our users. We are thrilled to be partnering with Raine, one of the most successful investors in gaming, as we seek to expand globally. Raine’s funding, as well as its strong relationships in the gaming industry, will be extremely valuable to us as we move forward with our strategic goals as the esports market continues to rapidly grow.”
