Jackpocket, the US-based operator of an online platform where users can buy lottery tickets, has received $120m in a series D round featuring Conductive Ventures, the venture firm funded by electronics manufacturer Panasonic.
Left Lane Capital led the round, which included Greenspring Associates, The Raine Group, Anchor Capital, Gaingels, BlueRun Ventures, Digital Currency Group, Proof, Santa Barbara Venture Partners and private investors including Mark Cuban, Kevin Hart and Whitney Cummins.
Founded in 2013, Jackpocket lets users buy US state lottery tickets securely through its app, and will use the funding to grow its team, supports international expansion into new markets and develop new marketing initiatives along with new games.
The company raised $50m in series C funding in February this year from investors including broadcaster Tegna and convenience retailer Circle K’s respective corporate venturing subsidiaries: Tegna Ventures and Circle K Ventures.
Raine Group subsidiary Raine Ventures, Greenspring Ventures, BlueRun Ventures and Gaingels filled out the round together with assorted private investors.
Jackpocket closed its $21m series B round in mid-2019, adding $5m to a $16m first tranche led by Conductive Ventures the previous year.
The round included DCM Ventures, BlueRun Ventures, Bullpen Capital, Digital Currency Group and Subversive Capital, and it followed $2.6m from undisclosed investors in 2015 according to a securities filing.
Peter Sullivan, founder and chief executive of Jackpocket said: “We are excited to have such a diverse group of partners and individuals validate Jackpocket’s vision for the future.
“Our success over the past 12 months highlights our ability to reach the broadest base of lottery player possible and we will use this funding to continue to grow and innovate the platform with new types of gameplay.”
