Strive Gaming secures new undisclosed funding round led by OpenBet
Strive Gaming has announced a new investment round, led by OpenBet, as PAM supplier looks to further increase its presence in the US.
Several other firms participated in the round, including Knutsson Holdings AB, Betsson, and specialist gaming fund Astralis Capital Management.
The new partnership will see increased commercial opportunities for the two companies across North America, with the investment marking OpenBet’s first into an external firm since it was acquired by Endeavor in September 2022.
As well as the investment, OpenBet will bundle Strive Gaming’s PAM solution alongside its regtech product Neccton, which it acquired last year.
Both companies confirmed Strive Gaming will continue to operate independently and remain led by its founders Damian Xuereb and Max Meltzer.
A joint statement from the two firms read: “Strive Gaming’s PAM solution will retain its platform-agnostic nature while maintaining the deepest integration with OpenBet to drive future expansion opportunities”.
OpenBet CEO Jordan Levin said the deal unlocked new opportunities for the firm.
He said: “This investment in Strive Gaming unlocks major new opportunities for OpenBet and bolsters our position as an end-to-end global industry-leader.
“With the strength of Strive Gaming’s PAM as a future-proofed solution for the US market, combined with OpenBet’s high standards, we can offer US operators a fully integrated, turnkey proposition that will fuel responsible betting experiences.
“This new partnership sparks a new chapter in our history, and we are looking forward to working closely with the Strive Gaming team.”
Max Meltzer, Strive Gaming CEO, added: “Strive Gaming is perfectly positioned to increase our PAM market share and become a leader in the US online betting industry over the coming years.
“OpenBet is a key, trusted brand in the global sports betting arena, and we welcome the company’s investment in a move that will take us in a bold new direction, while maintaining our independence.
“We are extremely excited for our partnership with OpenBet – together, OpenBet and Strive Gaming have expertize across the entire betting industry, combined with strong tech and talent.”
OpenBet was recently merged with IMG Arena following its acquisition by Endeavor two years ago. It will continue to operate under the OpenBet brand.