SoBet operates a social-style platform that hosts exclusive short-form videos and write-ups from sports-betting creators popular on Instagram and TikTok. The app launched in June 2022 and targets 18-to-35-year-old casual bettors seeking transparent, easy-to-digest betting information. The company hosts more than 50 creators posting weekly, delivers about 5,000 posts a month (up from roughly 2,000), and reports over 6,000 paying subscribers. SoBet charges $9.95/month for a base plan (sharing 60% of that revenue with creators) and $25/month for VIP channels (sharing 90% with creators), and it says it has more than $1 million in annual recurring revenue while targeting over $2 million this year. The startup plans to build out its technology engine to add transparency features such as automatic bet-tracking leaderboards. It will use new funding to pay creators and staff and to spend on marketing and product development.

Total raised

$4M

Funding rounds

1

Latest round

Seed

Latest activity

May 2024