Kinectify is aiming to accelerate a mission of providing an all-in-one gaming risk management solution, after raising a preferred seed round.
The AML risk management technology firm, which aims to enable efficient management of risk with real-time intelligence, is to utilise the strategic investment to scale its offering.
The investment was co-led by OpenBet, Acies Investments, and the Eastern Band of Cherokee Indians, with participation also featuring Eilers & Krejcik Gaming and what are lauded as “prominent individuals and executives”.
“We have been impressed by Kinectify’s team and product which fills a long-standing need in the gaming industry,” said Jordan Levin, CEO of OpenBet.
“As the company continues to innovate and change the compliance industry, we’re thrilled to partner with them as they capitalise on the sizable market opportunity ahead.”
Individuals taking part include Seth Schorr, CEO of Fifth Street Gaming; Seth Young, Chief Strategy Officer of Fifth Street Gaming; industry investor Quinton Singleton; Lauren Lemmer, Chief Compliance Officer & Head of Operations for Wagr; and the management team at The Strategy Organization.
Edward King, Co-Founding Partner and Co-CIO of Acies, commented: “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.”
In addition to the above, Kinectify’s advisory services look to enhance customers’ capacity with industry experts who can design and test programs, help meet compliance deadlines, and permit the outsourcing of day-to-day admin of compliance programs.
“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,” stated Joseph Martin, CEO of Kinectify.
“This investment will accelerate our mission to provide an all-in-one solution for gaming risk management.”