SAN FRANCISCO, CA, AutoLotto, the mobile lottery service, announced today the closing of its $17 million Series A funding round.
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The investment, led by a series of private, strategic investors, will support the growth and expansion of the company's mobile app, which allows users to play the Powerball and get lottery results on their phone. The AutoLotto app is available nationwide with lottery ticket scanning and tracking abilities, and will continue to launch in-app ticket play across the $80 billion US market as well as in international markets in the coming months.
"The Series A includes many return investors from previous rounds, and the level of strategic investment affirms the market's belief in AutoLotto as the clear leader in re-imagining how people play the lottery, particularly for the younger, more phone-centric consumers," said AutoLotto CEO Tony DiMatteo. "We're attracting a new generation of lottery players, capturing an entirely new market while advancing the industry. This round of funding will allow us to scale our team and further expand our footprint in the US and abroad."
The company has raised more than $19 million since its inception. Initial seed and Series A funding rounds include a number of marquee investors who were early participants in some of the top technology companies in Silicon Valley, including Twitter, Facebook, Uber, Instacart, PayPal and Tesla. The company's roster of investors include "super angel" investor Jason Port, venture capitalists Bruce Gibney and Ben Narasin, Causecast CEO Ryan Scott, and Aurum Partners to name a few.
"Finding a company in its early stages with such an incredible market potential doesn't happen everyday. After spending time with founders Tony and Matt, understanding their global approach to advance the multi-billion dollar mobile lottery industry, we knew Autolotto was in the best position to lead and feel we can help them scale," said Tom Arrix, managing partner at Adjacency Partners and AutoLotto investor.
As part of AutoLotto's round of funding, AutoLotto also announced partnerships with media giants iHeartMedia and Gatehouse Media, which have each invested and contributed media assets, enabling AutoLotto to accelerate its market coverage on multiple distribution mediums.
AutoLotto is the first app to market that seeks approval from state legislators to allow users to play the lottery on their phone. "AutoLotto is committed to developing this industry the right way," said AutoLotto president, Matt Clemenson. "We work closely with regulators to advance the industry while preserving the integrity of the ecosystem for the lotteries and customers alike."
Play The Lottery On Your Phone
AutoLotto is the first-ever safe, secure, and fun mobile lottery service. AutoLotto's "Tap, tap, ticket" approach to the lottery allows users to instantly play the Powerball with zero fees or commissions, and collect 100 percent of their winnings. Available on all iOS and Android devices, AutoLotto eliminates lost tickets and the need to track down results.
AutoLotto ensures safety and security by utilizing industry-leading technology that verifies user identity, location and age to provide the best and most-legitimate mobile lottery experience.