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Sports betting app Wagr gets funding from Kraft Group, HBSE Ventures

By Joe Lemire

Wagr, a sports betting app with social chat features, announced its public launch amid the completion of a $12M Series A. The round included investments from The Kraft Group -- operated by Patriots Owner Robert Kraft -- and HBSE Ventures, the venture arm for owners of the 76ers and Devils. The Nashville-based startup is initially available in Tennessee following a private beta release that began last month. The mission of Wagr is to present an accessible interface for all levels of bettors, who can use the app to challenge others on bets. The experience is designed to be social with leaderboards and other community posts. Wagr generates revenue through a 5% transaction fee. Among those who joined HBSE Ventures and The Kraft Group in the funding round were BITKRAFT Ventures, Greycroft, Pear Ventures and Alexis Ohanian’s Seven Seven Six. Greycroft and Seven Seven Six had led the $4M seed round that closed in December '20. Wagr’s co-founders are CEO Mario Malavé and CPO Eliana Eskinazi, who met while studying at Harvard Business School. 

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