Edison Partners invests $15.5m in Gambling.com Group
Published 6th September 2019
Gambling.com Group plans use the funds to enhance its marketing services in the US online gambling sector, with a focus on accelerating certain investments in the market.
The provider will also work with New Jersey-based Edison Partners to support its ongoing US expansion plans as a strategic growth equity partner.
“We greatly look forward to bringing on Edison as our teammate in our new American journey,” Gambling.com Group chief executive, Charles Gillespie, said.
“Edison is the right partner at the right time, and I expect our collaboration to deliver powerful results.
“Their investment in the Group validates our thesis that we are the performance marketing and content platform best positioned to benefit from the expansion of regulated online gambling in the United States.”
Gambling.com Group currently holds licences in New Jersey, Pennsylvania and West Virginia and recently opened a new office in North Carolina.
Chris Sugden, managing partner at Edison Partners, added: “The company will continue to monetize the large market opportunity in Europe while increasing investment in the US online gaming is expanding significantly as regulations are modified on a state-by-state basis.”
Edison Partners manages more than $1.4bn in assets. The new investment will sit in its latest fund that closed in December 2018, with a size of $365m.