$16M Series B In Jackpocket Includes Participation Former NBA Commish David Stern
Former National Basketball Association Commissioner David Stern says Jackpocket is one of the startups that will change the entire landscape of gaming and the future of sports. He is putting his money where his mouth is. Stern is part of a Series B round of funding in the amount of $16 million that was just raised by Jackpocket, a mobile app that offers a secure way to order official state lottery tickets.
The platform, which has raised a total of $25 million to date, is primarily focused on offering tickets like Powerball and Mega Millions to consumers. However, it envisions a future that also includes capturing sports wagering as state lotteries may expand to that space.
Stern is joined by Conductive Ventures, which led the Series B round, as well as DCM Ventures in the newest round of funding. Existing investors include BlueRun Ventures, which led Jackpocket’s Series A funding round, Bullpen Capital, Digital Currency Group and Subversive Capital.
Bullpen Capital was an early investor in FanDuel. Along with Stern, it is hopeful that Jackpocket is able to successfully expand to the iGaming industry in the future. They are also definitely interested in the fact that 59% of Jackpocket players are considered millennials.
Jackpocket is currently only available to players in New Hampshire and Minnesota, but says that it is readying to launch in some of the United States’ top lottery markets in Q1 2019.