23 Broadway — Company Profile – Wagering America – A Kelly Criterion Capital Company

Prepared: June 2026 · Basis: Public sources only · Type: Independent company profile for investment screening

Overview: 23 Broadway is a B2B user-acquisition (UA) company for the gaming industry that combines three things into a single offering: non-dilutive capital to fund customer acquisition, an in-house performance-marketing team, and a proprietary AI system called Atlas that predicts the optimal cost to acquire a customer and their long-term value. It is a spin-out of the internal growth engine that helped Canadian operator Betty reach roughly 18% market share in Ontario, now packaged and sold to other growth-stage gaming businesses. The company positions itself not as a lender but as an integrated “operating partner” for growth.

1. Snapshot

Field	Detail	Confidence
Name	23 Broadway	High
Founder & CEO	Jordan Tuch (co-founder of Betty)	High
Origin	Spin-out of Betty’s internal user-acquisition / growth engine	High
Geography	Canada-based; serving North American (and broader) gaming operators	High
Stage	Seed	High
Disclosed funding	$3.0M seed (announced March 2026)	High
Round structure	Co-led by Betty and Will Ventures; participation from 359 Capital, CEAS Investments, and Dave Bartman	High
Core technology	Atlas — proprietary AI for CAC optimization and predicted LTV	High
Estimated value	No valuation disclosed	n/a

2. Business & Product

The model. 23 Broadway integrates capital, marketing execution, and predictive technology into one UA solution:

Non-dilutive UA financing — it provides capital to fund customer acquisition, so partner operators can scale spend without raising equity or building their own infrastructure.
Performance-marketing execution — an in-house team runs the actual acquisition campaigns, rather than simply lending money and leaving execution to the operator.
Atlas (proprietary AI) — the technical core. Atlas determines the optimal cost of acquiring a customer and predicts that customer’s long-term value, allowing media bids to be executed against predicted LTV so capital is deployed more efficiently.

Positioning vs. the category. Traditional UA-financing has functioned largely as a lending model, where risk is pushed onto the borrower. The CEO frames 23 Broadway differently: because it brings performance-marketing execution and proprietary technology alongside the capital, it acts as a partner that shares in the work and the risk rather than a pure financier. This “capital + execution + intelligence” bundling is the company’s central differentiation.

Use of proceeds. The seed funding is earmarked to launch the fully integrated financing platform and to continue developing Atlas, specifically enhancing its predictive-modeling capabilities, as the company expands operations.

3. Financials & Funding

$3.0M seed round, announced March 2026, co-led by Betty and Will Ventures, with participation from 359 Capital, CEAS Investments, and Dave Bartman (an industry figure). The involvement of Betty — the operator whose growth the team previously drove — as a co-lead is a notable validation signal.
No revenue figures are disclosed. As a newly spun-out B2B company launching its platform, financial performance is not public. However, the underlying track record provides unusually concrete operating evidence (see Traction).
No valuation disclosed. A $3M seed implies an early-stage company; an enterprise value around or modestly above a single-digit-million screening ceiling is plausible but unconfirmed.
A structural nuance for diligence: the model itself involves deploying capital into UA on behalf of partners. That means the business may carry balance-sheet/credit-style risk and capital-intensity characteristics distinct from a pure-software supplier — important for how revenue, margins, and risk are assessed.

4. Track Record & Traction

23 Broadway’s credibility rests on a specific, quantified prior result rather than projections:

The team’s performance-marketing operation was credited with helping Betty reach ~18% market share in Ontario in just under three years in the market.
In doing so, it reports having deployed close to $100M in performance marketing for Betty, with payback periods of around seven months on that spend.

These are company-stated figures tied to a real operator outcome, which is stronger evidence than most seed-stage peers can offer. For diligence, the key questions are whether those results transfer to third-party clients (versus a sister operator the team knew intimately) and whether the ~7-month payback holds across different markets and brands.

5. Team

Person	Role	Background
Jordan Tuch	Founder & CEO	Co-founder of Betty, the Canadian gaming operator. Led the growth/UA function whose results are the foundation of 23 Broadway, and is the public face and strategic lead of the spin-out.

The company also brings across the performance-marketing team and the Atlas technology developed during the Betty period. Broader leadership and technical-team detail is limited in public sources; the depth and retention of the marketing and engineering talent that produced the original results would be central to any evaluation.

6. Market & Competitive Position

Category. 23 Broadway sits in UA financing and growth services for gaming operators — a B2B operating-partner model adjacent to (not competing with) sportsbooks and casinos. UA cost is one of the largest and most strategic line items for gaming operators, making this a high-value problem to solve.
Differentiation. The integration of capital, in-house execution, and predictive AI (Atlas) is the core edge, contrasted with lenders that provide money without execution. The proven Betty result and the LTV-based bidding approach are genuine differentiators.
Competitive and structural pressures. The space includes other UA-financing funds and growth-marketing agencies, plus operators’ own in-house teams and large performance-marketing platforms. Key questions are the defensibility of Atlas versus increasingly capable general-purpose ad-bidding/LTV tools, the transferability of the Betty playbook to other operators, and the capital intensity and risk profile of a model that deploys money into acquisition. Sister-company concentration (Betty as both backer and origin) is a strength for validation but something to weigh for independence and customer diversification.
Strategic relevance. For operators, the appeal is outsourced, capital-backed, AI-optimized growth; for an investor or acquirer, the interesting assets are Atlas, the execution team, and the demonstrated payback economics.

7. Diligence Considerations & Information Gaps

Category	Publicly known	Open items to confirm
Financial	$3M seed; no revenue disclosed; deploys capital into UA	Revenue model and take/fee structure; gross margin; how UA capital is funded (balance sheet vs. external facility); credit/loss risk; runway
Traction	Betty: ~18% Ontario share, ~$100M deployed, ~7-mo payback	Verification of these figures; results with third-party (non-Betty) clients; current client count and pipeline
Technology (Atlas)	Proprietary CAC/LTV prediction and bidding	Independent assessment of model accuracy and defensibility vs. off-the-shelf tools; data dependencies; IP ownership post-spin-out
Capital structure	Co-led by Betty & Will Ventures + others	Cap table; Betty’s ongoing ownership/relationship and any exclusivity; terms; how acquisition capital is structured
Team	Founder (ex-Betty); inherited marketing/eng team	Key-person dependency; retention of the team that produced the results; org depth
Risk	Capital-deployment model	Concentration risk (reliance on Betty); downside if a client’s LTV underperforms predictions; market/regulatory exposure of partner operators

8. Summary Perspective

Strengths. A genuinely differentiated, integrated model (capital + execution + proprietary AI) addressing one of gaming’s biggest cost centers; an unusually concrete and quantified track record via Betty (~18% Ontario share, ~$100M deployed, ~7-month payback); a credible founder who built that result; and a validating investor group co-led by the very operator whose growth the team drove. This is one of the better-evidenced seed-stage profiles in the cohort.

Risks and open questions. The proof points come from a sister operator the team knew from the inside, so third-party transferability is unproven. The capital-deployment model introduces balance-sheet, credit, and capital-intensity considerations that a pure-software supplier would not have, and these shape both risk and valuation. Atlas’s defensibility against improving general-purpose ad-tech needs scrutiny, and concentration around Betty (as origin, backer, and reference) cuts both ways. Team depth beyond the founder is not well documented publicly.

Net perspective. 23 Broadway is a well-validated, founder-led seed-stage B2B growth company turning a proven internal capability into a product. Its decisive open questions are whether the Betty economics replicate for independent clients, how the capital and risk in its financing model are structured, and how durable the Atlas technology advantage is — answers to which would largely determine whether it is a software-margin business or a more capital-intensive growth-services operation.

9. Suggested Next Steps for Evaluators

Verify the Betty metrics (~18% share, ~$100M deployed, ~7-month payback) and, critically, obtain results from any non-Betty clients.
Understand the financing mechanics — how UA capital is sourced and structured, the fee/revenue model, gross margin, and credit/loss exposure.
Assess Atlas independently — model accuracy, data dependencies, IP ownership after the spin-out, and defensibility versus off-the-shelf LTV-bidding tools.
Clarify the Betty relationship — ongoing ownership, any exclusivity or ROFR, and customer-concentration risk.
Evaluate team retention — whether the marketing and engineering talent behind the original results carried over and is locked in.

Sources (public, accessed June 2026): NEXT.io; BettingStartups; Gaming Americas / Hipther; iGaming Future; G3 Newswire; EEGaming; InterGame; Cision iGaming News. Funding figures and the Betty performance metrics are company-/press-reported and have not been independently verified. This profile is a preliminary summary compiled from public information and is not investment advice or a recommendation.