US-based lottery app developer AutoLotto has closed a $17m series A round that included media companies iHeartMedia and Gatehouse Media, both of which provided cash and media assets.
The company did not disclose any of the other participants in the round, but said its investor base includes Aurum Partners and angel investors Jason Port, Bruce Gibney, Ben Narasin and Ryan Scott. It had previously raised $2.4m in seed funding and graduated from 500 Startups’ accelerator.
Autolotto has built an app that lets users securely buy tickets for the nationwide Powerball lottery, without charging fees or commission, and also provides lottery results. The funding will support international expansion and the growth of the app.
Tony DiMatteo, AutoLotto’s CEO, said: “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.
“We are 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.”