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- Jackpocket
Jackpocket Acquisition, Valuation, Funding & Investors
Jackpocket was acquired by DraftKings for $750M in February 2024, a 9.6x multiple on $78M of revenue.
Jackpocket revenue at acquisition
$78M
Last twelve months · Feb 2024
Jackpocket revenue multiple at acquisition
9.6x
EV/Revenue · Feb 2024
Cumulative funding Jackpocket raised
$200M
across 6 funding rounds
About Jackpocket
Jackpocket is a New York-based mobile lottery courier service licensed in 18 U.S. states including New York, New Jersey, and Texas, plus Washington DC and Puerto Rico. Users order official tickets for Powerball, Mega Millions, and state games via the app, with automated win notifications and group pools. The platform facilitated wins in Arizona, Colorado, and Ohio.
Founded
2013
HQ
Website
Status
Acquired
Customer focus
B2C
Revenue model
Commission
Revenue
$78M (Feb 2024)
Valuation
$173M (Feb 2021)
Sectors
Jackpocket Acquisition
Jackpocket was acquired by DraftKings for $750M on 15 February 2024.
The acquisition price implies a 9.6x revenue multiple on $78M of revenue.
Before the acquisition Jackpocket had raised $200M across 6 funding rounds.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 15 Feb 2024 | Strategic M&A | $750M | 9.6x |
Jackpocket Valuation
Jackpocket is currently valued at $173M, based on its Series C in February 2021.
The $50M round was led by The Raine Group.
Jackpocket valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2021 | Series C | $173M |
Jackpocket Funding History
Jackpocket has raised a total of $200M across 6 funding rounds.
Jackpocket's first fundraising round was a $2M seed round in April 2015. The most recent completed round was a $120M Series D in November 2021.
Jackpocket funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2021 | Series D | Left Lane Capital (lead) | $120M | - | Jackpocket, the leading U.S. lottery app enabling users to securely order official state lottery tickets via mobile, raised $120 million in its Series D funding round on November 9, 2021, led by Left Lane Capital. The round included participation from celebrities like Kevin Hart, Whitney Cummings, Mark Cuban, and Manny Machado, as well as prior investors such as Greenspring Associates, The Raine Group, Anchor Capital, Gaingels, Conductive Ventures, BlueRun Ventures, Digital Currency Group, PROOF, and new investor Santa Barbara Venture Partners. This followed a $50 million Series C in February 2021 led by The Raine Group. The company operates in 10 states including New York, New Jersey, and Texas, with active users growing over 300% since the Series C. In Q3 2021, Jackpocket captured more than 13% of Powerball tickets sold in New York for certain drawings, highlighting rapid traction amid booming mobile gaming and lottery sectors. Funds will support team expansion, international market entry, new marketing initiatives, partnerships, potential acquisitions, and development of new games and verticals to pioneer lottery play and mobile gaming innovation. Jackpocket, founded in 2013 with operations in New York and Santa Barbara, aims to broaden access to lottery players while navigating regulatory challenges compliantly. |
| Feb 2021 | Series C | The Raine Group (lead) | $50M | $173M | Jackpocket is the first and only licensed third-party app in the U.S. for securely ordering official state lottery tickets, operating in multiple states including newly approved New York and New Jersey as of early 2021. The company raised $50 million in a Series C funding round announced on February 9, 2021, with participation from The Raine Group, Greenspring Associates, BlueRun Ventures (BRV Capital), Circle K Ventures, TEGNA Ventures, Gaingels, and high-profile individuals like David Blitzer, Sean Hayes, and Jon Ledecky. This round brought total funding to nearly $80 million, with proceeds aimed at team expansion, hiring, and launching in new jurisdictions to capitalize on the $300 billion global lottery industry. The funding followed strong growth, including 4x annual growth, new user acquisition in January 2021 surpassing all of 2020, and capturing 7% of Powerball tickets sold in New York after launch. CEO Peter Sullivan highlighted reaching new demographics for mobile lottery experiences. Raine Ventures' Gordon Rubenstein praised Jackpocket's understanding of lottery consumers, regulatory navigation, and technology platform, positioning it as a leader in mobile lottery within real money gaming. |
| May 2019 | Series B | Gavin Isaacs (lead); PROOF (lead); Bullpen Capital; Conductive Ventures; Digital Currency Group; Subversive Capital; BlueRun Ventures; DCM Ventures; David Stern | $5M | - | - |
| Oct 2018 | Series B | Conductive Ventures (lead); Bullpen Capital; Digital Currency Group; Subversive Capital; BlueRun Ventures; Grit Capital Partners; DCM Ventures; David Stern | $16M | - | Jackpocket raised $16.4 million in a Series B funding round in October 2018 led by Conductive Ventures, with participation from DCM Ventures, former NBA Commissioner David Stern, BlueRun Ventures, Bullpen Capital, Digital Currency Group, and Subversive Capital. This brought total funding to $25 million at the time. The capital supported expansion to new jurisdictions and improvements to user experience for its mobile app, the first third-party platform in the U.S. offering a secure way to order official state lottery tickets. The round followed a lottery frenzy and aimed to modernize the $80 billion U.S. lottery industry amid growing iGaming regulations and state adoption of sports wagering. Jackpocket targeted innovation in lottery distribution channels to attract new players while complying with regulations. |
| Aug 2016 | Series A | BlueRun Ventures (lead); Fueled; Evolution VC Partners | $6M | - | Jackpocket raised $6.2 million in its Series A funding round in August 2016, led by BlueRun Ventures with participation from Fueled and Evolution VC Partners. The funding aimed to scale operations and enhance the app's features. Jackpocket develops a mobile application that allows users to securely order official state lottery tickets, initially serving customers in New York. This round brought total funding to date above the seed stage, positioning Jackpocket to expand its third-party mobile lottery service. The company continued raising capital in subsequent rounds, including a Series B in 2018 led by Conductive Ventures. Jackpocket was later acquired by DraftKings and has raised over $197 million across multiple rounds, with investors including Raine Group and others. |
| Apr 2015 | Seed | Rosepaul Investments / RosePaul Ventures; Dhani Jones; Redwood Technology Ventures; Kevin W. Tung; M13; Jeffrey Berman; Dennis Crowley; Kima Ventures | $2M | - | - |
Who has invested in Jackpocket?
22 investors have backed Jackpocket across its funding rounds, including BlueRun Ventures, DCM Ventures, Digital Currency Group, Bullpen Capital, Conductive Ventures and Subversive Capital.
Lead investors include Left Lane Capital, The Raine Group, Gavin Isaacs, PROOF, Conductive Ventures and 1 other investor.
Jackpocket Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Aug 2016 | ||
| 2 | Participant | Oct 2018 | ||
| 2 | Lead | Oct 2018 | ||
| 2 | Participant | Oct 2018 | ||
| 2 | Participant | Oct 2018 | ||
| 2 | Participant | Oct 2018 | ||
| 2 | Participant | Oct 2018 | ||
| 1 | Participant | Apr 2015 | ||
| 1 | Participant | Aug 2016 | ||
| 1 | Participant | Apr 2015 | ||
| 1 | Participant | Apr 2015 | ||
| 1 | Lead | May 2019 | ||
| 1 | Participant | Aug 2016 | ||
This data is available for Pro users. Sign up to see all 22 Jackpocket investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialJackpocket Competitors
Jackpocket competitors include listed companies like Better Collective, Tokyotokeiba, DigiPlus Interactive and Accel Entertainment, and private ones like Gamenet and Zupee.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $388M | $100M | $693M | 2.4x | ||
| Private | $712M | - | $829M | 1.2x | ||
| Publicly listed | $268M | $139M | $830M | 2.9x | ||
| Publicly listed | $1.3B | $223M | $659M | 0.4x | ||
| Publicly listed | $1.3B | $184M | $930M | 0.9x | ||
| Private | $43M | - | $600M | 14.0x |
Jackpocket Public Comps
Jackpocket is no longer listed, but its public comps include Better Collective, Tokyotokeiba, DigiPlus Interactive, Accel Entertainment, Rank Group, Kambi Group, ZEAL Network, Codere Online, Tsuburaya Fields Holdings and Sports Toto.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $388M | $100M | 2.5x | 2.4x | 9.8x | 7.7x | |||
| $268M | $139M | 3.0x | 2.9x | 5.7x | 5.5x | |||
| $1.3B | $223M | 0.4x | 0.4x | 2.4x | 2.5x | |||
| $1.3B | $184M | 0.9x | 0.9x | 6.8x | 5.6x | |||
| $1.1B | $156M | 0.7x | 0.7x | 4.8x | 4.1x | |||
| $187M | $55M | 2.5x | 2.3x | 8.4x | 7.1x | |||
| $252M | $79M | 3.9x | 3.4x | 12.3x | 11.6x | |||
| $242M | $4M | 1.5x | 1.3x | 104.8x | 16.2x | |||
This data is available for Pro users. Sign up to see all Jackpocket competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Jackpocket
| When was Jackpocket founded? | Jackpocket was founded in 2013. |
| Where is Jackpocket headquartered? | Jackpocket is headquartered in New York City, NY, United States. |
| Is Jackpocket publicly listed? | No, Jackpocket was acquired by DraftKings in February 2024. |
| Who acquired Jackpocket? | Jackpocket was acquired by DraftKings in February 2024. |
| How much was Jackpocket acquired for? | Jackpocket was acquired for $750M in February 2024, a 9.6x revenue multiple. |
| What is Jackpocket's valuation? | Jackpocket was last valued at $173M in its Series C in February 2021. |
| How much funding has Jackpocket raised? | Jackpocket has raised $200M across 6 funding rounds. |
| What was Jackpocket's last funding round? | Jackpocket's last funding round was a $120M Series D in November 2021, led by Left Lane Capital. |
| Who are Jackpocket's investors? | Jackpocket's investors include BlueRun Ventures, Bullpen Capital, Conductive Ventures, Digital Currency Group, Subversive Capital, DCM Ventures, David Stern, Rosepaul Investments / RosePaul Ventures, Fueled, Dhani Jones and 12 others. |
| Which companies are comparable to Jackpocket? | Companies comparable to Jackpocket include Better Collective, Gamenet, Tokyotokeiba, DigiPlus Interactive, Accel Entertainment and Zupee. |
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