Elizabeth Secures $5 Million to Empower Women in Online Wagering

Elizabeth, a digital wagering service focused on women, has raised $5 million in pre-Series A financing. The investment round was spearheaded by CEAS Investments, with contributions from prominent backers such as Powerhouse Capital, HappyHour, and Courtside Ventures. This follows a prior $7 million seed round, showcasing the increasing attractiveness of Elizabeth’s strategy within the internet gambling sector.

The firm intends to capitalize on the frequently disregarded demographic of female players, carving out a niche within the competitive online wagering arena. Elizabeth achieves this by customizing its games and overall user interface specifically for women’s tastes. This tactic has yielded an exceptional user retention rate for Elizabeth, over twice that of its male-oriented rivals.

Salim Mitha, former Chief Operating Officer of Playtika and Managing Partner at Powerhouse Capital, commended Elizabeth’s method, remarking, “Elizabeth is effectively implementing principles from some of the most successful mobile gaming products into the real-money online gambling market. We’ve witnessed firsthand how these tactics can propel swift expansion in users and earnings.”

Since its debut in February 2023, Elizabeth has been generating buzz in Canada’s most populous province, Ontario, having already obtained licensing from the Alcohol and Gaming Commission of Ontario (AGCO). With this new infusion of $5 million, Elizabeth intends to further propel its growth initiatives, enhance its real-time operational capacities, and upgrade its exclusive platform from Midnight 1 to Midnight 2.

Robin Reed, the head honcho at HappyHour, shared a similar feeling: “Betty possesses a distinct roadmap and objective. Their concentration on women who find pleasure in online slot games, coupled with their exclusive technology, truly distinguishes them within the industry. We are delighted to bolster their expansion with financial backing and product knowledge, and we eagerly anticipate continuing this exhilarating venture by their side.”