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Experiential Squared (E2), the parent company to global racehorse ownership platform MyRacehorse, has raised US$7 million in a recent funding round.
Confirmed:
- Lead investor in the funding round was thoroughbred racing and gaming company 1/ST
- 1/ST has a prominent technology division in sports and operates several horse racing tracks in the US
- MyRacehorse app allows users to review, analyse and purchase fractional shares in racehorses at a low entry point
- Buyers get direct and instant prize money payouts
Context:
The additional funding will allow E2 to expand its business into other sports and territories. Currently, the company is operating in the US and Australia, with the MyRaceHorse platform currently boasting an active user base of close to 100,000. The UK and Ireland are the next target markets for E2.
Comment:
“This is the ultimate strategic partnership; having 1/ST Racing and Gaming and 1/ST Technology as the lead investors not only provides us the capital to accelerate growth, but the strategic assets and access to enhance the ownership experience for our 50,000 plus racehorse owners,” said Michael Behrens, founder and chief executive of E2 and MyRacehorse.
Coming next:
The company could first be expanding its operations into the Nascar motorsport series, having confirmed that negotiations for the purchase of a prominent team were already underway.
