Novig promotes from within for new COO

Commission-free betting exchange Novig has appointed Dan Rosen as the group’s new chief operating officer (COO), a little over a year after he joined the company.

Rosen was previously the New York-based firm’s head of operations, having joined the company in January 2023, and brings a wealth of experience and a proven track record to his new role.

Prior to joining Novig, Rosen’s career saw him appointed as the general manager of New York for the San Francisco-based online food ordering delivery platform DoorDash.

This followed a four-year stint working as an investment banker for Morgan Stanley.

Rosen said: “I’m excited and ready for the challenge. Because we have such a lean team, operations encompasses everything that doesn’t have a direct role attached to it – finance, customer support, product, accounting, etc.

“The biggest change in my responsibilities will be the increased focus on product work, which comes into greater focus as we find product-market fit and hone in on rapid iteration.”

Sports betting startup Novig was formed in 2021 by then Harvard University students Jacob Fortinsky and Kelechi Ukah.

The operator’s main USP is to provide a peer-to-peer betting exchange that eliminates commission and instead generates profits by charging traders, and monetizing the data it gathers from the bets it takes.

Novig secured $6.4m in a seed funding round in August and went live in the US for the first time after launching in Colorado last month following licensing approval from the Colorado Division of Gaming in October 2023.

However, Colorado, as is the case in all US states, currently only allows for traditional sportsbooks. Until the Colorado Limited Gaming Commission approves exchange betting, Novig will work under current conditions and provide a standard online sportsbook only.

Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.