App has seen 8x growth since Series C funding round in February
Jackpocket, the leading lottery app in the U.S. to provide a secure way to order official state lottery tickets, announced today it has raised $120M in Series D funding to pioneer the future of lottery play. With operations in 10 states, including New York, New Jersey, and Texas, Jackpocket’s user base continues to grow rapidly with active users increasing by over 300% since the company’s $50M Series C investment in February 2021. In Q3, Jackpocket hit more than 13% of all Powerball tickets sold in the state of New York for particular drawings.
Led by NYC-based, consumer-internet focused growth fund, Left Lane Capital, the Series D included participation from prestigious names like Kevin Hart, Whitney Cummings, Mark Cuban, Manny Machado, and more. The round also included previous investors Greenspring Associates, The Raine Group, Anchor Capital, Gaingels, Conductive Ventures, BlueRun Ventures, Digital Currency Group, PROOF, and new participation from Santa Barbara Venture Partners, and more.
“The mobile gaming and lottery industry is experiencing an exciting and unprecedented level of growth and expansion. It was very clear to us that Jackpocket was the company in the space to back, and is spearheading real progress and innovation in this market,” said Harley Miller, Founder and Managing Partner of Left Lane Capital. “To innovate in the lottery space in a compliant fashion has historically been difficult, and we were compelled by the integrity with which Jackpocket has navigated the ecosystem. We look forward to supporting their growth and further expansion efforts.”
Jackpocket’s Series D funding will fuel a series of new additions to the Jackpocket team to support rapid geographic expansion, including international markets, the development of new verticals and gameplay, new marketing initiatives and partnerships, and potential acquisitions.
“We’re excited to have such a diverse group of partners and individuals validate Jackpocket’s vision for the future,” said Peter Sullivan, CEO and Founder of Jackpocket. “Our success over the past 12 months highlights our ability to reach the broadest base of lottery player possible, and we’ll use this funding to continue to grow and innovate the platform with new types of gameplay.”
The company’s Series D announcement comes on the heels of a Jackpocket user winning a $9.4M lottery prize on the app, the largest mobile gaming win in U.S. history. In 2021, Jackpocket partnered with the New York Racing Association, the New York Islanders, and the New York Jets — as the first digital lottery partner in the NFL — with new partnership announcements on the horizon.
