Jackpocket, the US-based developer of a mobile lottery ticket retail platform, has completed a $50m series C round featuring corporate venturing subsidiaries of broadcaster Tegna and convenience store chain Circle K.
Tegna Ventures and Circle K Ventures were joined bv Raine Ventures, the venture capital arm of merchant bank Raine Group, as well as Greenspring Associates, BlueRun Ventures, Gaingels and individuals including David Blitzer, Sean Hayes and Jon Ledecky.
Founded in 2013, Jackpocket provides a mobile app that allows users to securely and automatically buy US state lottery tickets through their accounts, check results and join lottery pools.
The company will use the series C proceeds to support marketing campaigns and hire new employees. It said the platform’s new user growth in the first month of 2021 had surpassed the entirety of 2020.
Jackpocket closed its $21m series B round, which included Conductive Ventures, an investment firm sponsored by electronics producer Panasonic, as well as BlueRun Ventures, Bullpen Capital, DCM Ventures, Digital Currency Group, Subversive Capital and private investors David Stern and Gavin Isaacs, in May 2019.
The company had previously received an undisclosed amount of funding in a 2016 series A round led by BlueRun Ventures.