The round also drew investment from Eilers & Krejcik Gaming and a number of executives from the gaming industry including Fifth Street Gaming chief executive Seth Schorr, Wagr chief compliance officer and head of operations Lauren Lemmer, and industry veteran venturer and investor Quinton Singleton.
Kinectify said it will use the funds to scale its compliance offering, which is primarily focused on anti-money laundering in gambling.
In addition, Kinectify’s advisory services allows clients to work with industry experts to both design and test programmes, meet compliance deadlines, and outsource the administration of their compliance programmes to Kinectify.
“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,” Kinectify chief executive Joseph Martin said. “This investment will accelerate our mission to provide an all-in-one solution for gaming risk management.”
Acies co-founder and co-chief information officer Edward King added: “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.”