New investors include former CEO of Pinnacle, Paris Smith, and disruptor Danny Moses
LOS ANGELES, CA / ACCESSWIRE / December 12, 2024 / Wire Industries Inc., the parent company of sports betting marketplace WagerWire, has added notable investors in its latest funding round. Joining the roster are famed investor Danny Moses; Pinnacle's former CEO Paris Smith and Co-Founder George Molsbarger; GoodPaper Ventures; and others, signaling strong momentum for WagerWire's vision of a more dynamic sports betting marketplace.
Paris Smith, a key figure in the evolution of sports betting over the past three decades who ran Pinnacle as CEO, sees WagerWire as a great opportunity for innovation in the industry.
"My time and experience on the operator side leads me to know what will and won't work. I believe what WagerWire offers to both bettors and operators creates a unique opportunity to support players and their needs. Zach, Travis, Guy are the type of founders I look for: smart, passionate, willing to pivot and create value to the market. I am really excited to be on this journey with them." Smith said.
These new investors join an existing group of industry innovators and disruptors that includes Miami Marlins co-owner Roger Ehrenberg'sEberg Capital, Betr and Simplebet Founder Joey Levy's 305 Ventures, and Simplebet Co-Founder Scott Marshall. The latter drew comparisons between WagerWire's potential and the rise of microbetting that Simplebet led, which resulted in their high profile acquisition by DraftKings this year.
"I see WagerWire creating new opportunities for sportsbooks, much like we saw with the rise of microbetting," said Scott Marshall, Co-Founder of Simplebet. "Their secondary market concept offers significant value to operators by enhancing user engagement and volume in high margin bet types, while expanding the overall betting experience for the player."
WagerWire's marketplace, which allows users to buy and sell active bets, has gained recognition for its innovation, earning the EGR Rising Star of the Year award and nominations from SBC and Business Insider. The company continues to expand its reach and aims to establish itself as a key partner for sportsbooks adapting to a more flexible and user-focused betting ecosystem.
"Our goal has always been to modernize the sports betting experience," said WagerWire CEO Zach Doctor. "The addition of these investors gives WagerWire the support of both the initial pioneers of this industry as well as the innovators and disruptors of the new generation, supercharging our efforts to bring a more efficient, open, and entertaining market to real money gaming, and unlocking value for the entire ecosystem."
About Wire Industries
The company was established in 2021 with its flagship brand WagerWire and now owns and operates Wire Technologies and Wire Media Group. Wire Technologies includes the company's in-house data science team and core marketplace platform that powers WagerWire, FantasyWire, PonyWire and ContestWire, while Wire Media Group operates their media network and affiliate marketing division. You can download the WagerWire app in the Apple App Store and Google Play, and find them @WagerWire on Twitter/X, TikTok, and LinkedIn, and @WagerWireLive on Instagram.
Media Contact:
Sterling Randle
HPL Digital Sport
[email protected]
SOURCE: WIRE INDUSTRIES