Better Collective has said Mindway AI has a “great potential for future growth” after announcing a 50% revenue CAGR since 2021 for the safer gambling supplier.
Better Collective has held a 90% majority ownership of Mindway AI since 2021, having originally backed the firm when it was first developed by scientists at the Institute for Clinical Medicine at Aarhus University in Denmark.
Since acquiring the stake four years ago, Better Collective has now announced Mindway AI is monitoring more than nine million active players each month, up from around 100,000 in 2021.
Additionally, Mindway AI’s revenue has grown at a CAGR of 50%, which Better Collective said demonstrated “the quality and scalability of its software solutions”.
Mindway AI’s software is live in 39 countries and is available in 14 languages, with its Gamalyze and GameScanner tools serving as its leading products.
Gamalyze is a self-testing tool that players can use to establish potential at-risk behaviour patterns as early as possible, while GameScanner is a tool that operators embed to boost player protection.
The product taps AI, neuroscience and expert assessments to help build up player profiles and intervention strategies.
Better Collective CFO Flemming Pedersen also serves as Mindway AI’s chair, while Britt Boeskov sits on the board of both businesses.
Jesper Søgaard, Better Collective co-CEO, said: “The ownership of Mindway AI aligns strongly with our commitment to advancing safer gambling standards and educating our sports audience enabling them to better navigate the sports betting world.
“With Mindway AI’s deep know-how, innovative self-test, which we have made freely available across our house of brands, and capabilities for monitoring and profiling gamblers, the solutions provide significant value to both bettors and operators across the globe.
“We are highly encouraged by the commercial progress of Mindway AI as the company has successfully evolved into a solid business with a great potential for future growth.”
Ramus Kjærgaard, Mindway AI CEO, added: “Since joining Better Collective, we have scaled our presence and solutions significantly, from having software running in only three jurisdictions to becoming a global award-winning business supporting leading operators and regulators across the world.
“We have built a world-class team that enables us to develop innovative solutions that make a real impact for both our customers and the wider industry.
“We are only just getting started and are highly committed to continuing our rapid growth path advancing safer gambling standards and player protection, while growing our business in the years to come.”
The post Mindway AI’s four-year revenue CAGR hits 50%, says Better Collective first appeared on EGR Intel.
Danish affiliate, which is the majority owner of safer gambling supplier, praises growth recorded in business since taking 90% stake in 2021
The post Mindway AI’s four-year revenue CAGR hits 50%, says Better Collective first appeared on EGR Intel.