Wednesday, 15 January 2014

Bragbet expands to NI

Dublin based social media company BragBet has confirmed it is to expand its operations in Northern Ireland, creating nine new high quality, knowledge based posts, with support from Invest Northern Ireland.

BragBet has secured £287,000 to support the expansion, which includes £200,000 from the Invest Growth Fund, managed by Venture Capital firm ESynergy, on behalf of Invest NI. Bragbet has also been offered £87,000 towards the creation of the nine jobs by Invest NI.

BragBet, which is available on desktop and mobile, is the world’s first team betting service. BragBet leverages social media, human relationships and a passion for sports in a truly interactive product, which has proven to be a huge success with sports fans since its launch in April of this year.

BragBet were recently appointed the Official Betting Partner of the Football Association of Ireland and has developed a number of strategic alliances with sporting associations and media businesses, in their bid to disrupt some of the marketing conventions within the fast growing social gaming sector.

Phil Riordan, CEO of BragBet said: “We are delighted to announce our expansion in Northern Ireland. In reviewing the potential locations, Belfast stood out because of the strong software base, a pro start-up business environment and the availability of the specific mobile skills we require to grow our business. This, combined with an attractive package of financial support, made Northern Ireland the most attractive option for us. We look forward to working closely with Invest NI and ESynergy over the coming months and years.”

Mike Bowman, Fund Director at ESynergy added: “BragBet is a truly innovative start-up disrupting the betting markets using the power of social media. In identifying a need to expand their business, they engaged proactively with Invest NI and ESynergy and discovered the positive start-up ecosystem in Northern Ireland, which is a perfect match for their business needs.

“We are delighted to be able to join with existing investors including Boyle Sports and Telefonica, to assist the company with their strategic growth plans, focused on Northern Ireland.”

Barry McBride, Executive Director of International Business, Invest NI said: “Bragbet will tap into the existing social media technology skills base available here with the new jobs delivering almost £300,000 annually in salaries. These high quality, specialist posts will allow Bragbet to focus on the refinement of existing platforms and technology as well as exploit the potential of this growing sector in new, international markets.”