Kinectify raises preferred Seed Round

kinectify-raises-preferred-seed-round

The leading compliance software and advisory company focused on anti-money laundering (AML) in the gaming industry, Kinectify, has raised a preferred Seed round.

This investment was co-led by OpenBet, Acies Investments and the Eastern Band of Cherokee Indians, with participation from Eilers & Krejcik Gaming and prominent individuals within the gaming industry such as Seth Schorr, CEO of Fifth Street Gaming; Seth Young, Chief Strategy Officer of Fifth Street Gaming;  Quinton Singleton, veteran venturer and investor; Lauren Lemmer, Chief Compliance Officer & Head of Operations for Wagr; and the management team at The Strategy Organization.

Joseph Martin, CEO of Kinectify, said: “We are excited to partner with such seasoned strategic investors from inside gaming including suppliers and operators with deep expertise like OpenBet, Acies Investments and EBCI. This investment will accelerate our mission to provide an all-in-one solution for gaming risk management.”

Kinectify is the industry leading AML risk management technology company for the gaming industry. Its modern AML platform empowers clients to efficiently manage their risk with real-time intelligence so they can focus on growing their businesses and not be bogged down by compliance concerns.

In addition, Kinectify’s advisory services enhance customers’ capacity with industry experts who can design and test programs, help meet compliance deadlines, and even allow customers to outsource the day-to-day administration of their compliance programs to Kinectify.

“EBCI is proud to be participating in Kinectify’s latest investment round,” said R. Scott Barber, CEO of EBCI Holdings, LLC. “Kinectify has been a great partner and we are excited to launch its platform at our Caesars Southern Indiana property and future locations.” 

Jordan Levin, CEO of OpenBet, added: “We have been impressed by Kinectify’s team and product which fills a long-standing need in the gaming industry. As the company continues to innovate and change the compliance industry, we are thrilled to partner with them as they capitalize on the sizable market opportunity ahead.”

Edward King, Co-Founding Partner and Co-CIO of Acies, said: “We are excited to partner with Joseph and the Kinectify team who have created an exceptional AML and compliance platform that addresses mission critical services for both the land-based and mobile gaming ecosystem.  We firmly believe Kinectify’s position in the market is unique and delivers truly valuable technology to its clients.”