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June 6, 2023

Rithmm closes $2 million in seed funding

Funding highlights confidence in Rithmm's mission, according to CEO Megan Lanham

Rithmm Secures $2 Million in Seed Funding to Revolutionize AI-driven Sports Betting Boston-based startup Rithmm has emerged as a formidable player in the world of AI-driven sports betting technology, recently closing a highly successful seed funding round with a total investment of $2 million. This significant milestone was made possible through the support of prominent investors, including Boston Seed Capital, Counterview Capital, Oyster Ventures, Correlation Ventures, Service Provider Capital, and Permit Ventures.

The injection of capital marks a crucial turning point for Rithmm, as it paves the way for ambitious expansion plans. A substantial portion of the funding will be allocated to the imminent launch of Rithmm's NFL product, which is poised to complement its existing offerings in NBA, WNBA, NCAA Basketball, and NCAA Football. With this new addition, Rithmm aims to establish a comprehensive and diverse portfolio, catering to a wider audience of sports enthusiasts.

The seed funding will not only drive the company's growth but also provide support for crucial research and development initiatives. Rithmm intends to further enhance its cutting-edge sports betting platform by leveraging advanced analytics and an intuitive user interface. This combination empowers bettors to create customized analytical models, enabling them to make well-informed wagering decisions. By incorporating state-of-the-art technology, Rithmm aspires to deliver an unparalleled sports betting experience to its users.

Megan Lanham, the CEO of Rithmm, expressed her elation at the successful conclusion of the funding round. Lanham stressed that the infusion of capital would be instrumental in propelling their technology forward, expanding their reach with the highly anticipated NFL product, and providing users with an exceptional sports betting experience.

Rithmm's recent seed funding round has propelled the company into an exciting phase of growth. With their AI-driven sports betting platform and the upcoming NFL product, Rithmm aims to revolutionize the industry and captivate a broader audience. The infusion of capital not only supports their expansion plans but also solidifies their commitment to providing users with an unparalleled betting experience. The future looks promising for Rithmm as they continue to push the boundaries of technology in the realm of sports betting.

Neil Hodgson-Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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