Rithmm, an AI-driven startup, enters the market with the aim of empowering sports bettors
On March 14th, Rithmm, a Boston-based startup with roots in MIT, officially launched its sports betting application with the aim to provide predictive-analytics modeling to bettors.
On March 14th, Rithmm, a Boston-based startup with roots in MIT, officially launched its sports betting application with the aim to provide predictive-analytics modeling to bettors. The app utilizes AI-powered personal information algorithms to create custom analytical models that are used by professional bettors. By democratising the modeling process, Rithmm seeks to enable bettors of all skill levels to make better-informed wagers.
“Rithmm is a powerful data platform that serves as a personal analytics team for everyday bettors to make smarter bets with ease,” said Rithmm co-founder and CEO Megan Lanham. “Rithmm delivers an edge for users by accessing the same sophisticated modeling and analytics tools that the pros use. This dynamic app is going to be a game changer that will up-level the skills and success of sports bettors.”
Rithmm, a majority women-founded startup, has received backing from a syndicate of investors that includes Boston Seed Capital, Accomplice, and Counterview Capital - three of the original DraftKings seed investors. Recently, Rithmm was named a finalist at the MIT Sloan Sports Analytics Conference startup competition
"As the US sports betting market matures, access to advanced analytics is increasingly critical to bettors of all experience levels,” said Peter Blacklow, Managing Director at Boston Seed Capital. "We believe Rithmm is changing the industry by creating analytics tools that are even more powerful and customizable for consumers. Teaching them how to personalize their betting decisions is the key to making smarter betting decisions, and Rithmm is the first company to do this."
During the college football season, Rithmm evaluated and improved its models while receiving feedback from a select group of beta users.
Its successful model served as the foundation for its college basketball product, which lets users create brackets using their personalised models.
Rithmm's NBA model will be launched in the spring, and the WNBA will follow shortly after. In the fall, a premium product will be introduced, enabling users to customize their models further by selecting statistics for the NFL, college football, and the English Premier League.
According to it website the start up is backed by the following firms:
At time of writing Rithmm has 11 number of employees listed on LinkedIn with Brian Beachkofski as Chief Technology Officer since April 2022. Prior to joining Rithmm he spend two years with Kessel Run a Division within Air Force Life Cycle Management Center’s Digital Directorate and seven years as an advisor to AMPLYFI that specializes in integrated software solutions that seamlessly mine Big Data from the Internet, process that data using proprietary state-of-the-art deep learning techniques and present results using unique and insightful visualizations.