Experiential Squared, the parent company to the global racehorse ownership platform MyRacehorse, announced June 1 a $7 million funding round that includes several investors led by 1/ST through its 1/ST Racing & Gaming and 1/ST Technology business divisions.

1/ST Racing & Gaming operates numerous racetracks in the United States including Santa Anita Park, Gulfstream Park, Laurel Park, Golden Gate Fields, and Pimlico Race Course. 1/ST Technology is horse racing's largest technology company with a portfolio of products and services encompassing 1/ST Bet, Xpressbet and AmTote International, some of the industry leaders in pari-mutuel and advance-deposit-wagering technologies.

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Launched in Los Angeles, Calif., in 2018, MyRacehorse has operated on the simple premise of making racehorse ownership easy to try and accessible to a broader audience by offering micro shares. Prospective owners can review, analyze and purchase a fractional share in their desired racehorse for a single one-time payment of as little as $100.

The platform currently boasts more than 50,000 active owners and 100 active horses who have won over 160 races worldwide with earnings in excess of $20 million.

MyRacehorse is predominantly focused in the United States and Australia and has recently expanded to the United Kingdom and Ireland.

Michael Behrens, founder and CEO of Experiential Squared and MyRacehorse, said in a release that the partnership "provides us the capital to accelerate growth" and "strategic assets and access to enhance the ownership experience for our 50,000 plus racehorse owners."

Aidan Butler, CEO of 1/ST Racing & Gaming, added that 1/ST has "been supportive of MyRacehorse since the beginning" and that the partnership affirms the company's "commitment to growing ownership and further immersing fans in our sport."

The core of the Experiential Squared business is a proprietary technology platform that manages compliance, owner experience, content, investing, and financial and tax reporting. Experiential Squared operates within global securities regulations to securitize its racehorses, enabling the development of the first truly legal and compliant global racehorse ownership platform serving both accredited and non-accredited investors.

Both MyRacehorse and 1/ST have announced their commitment to the well-being of Thoroughbreds after racing, contributing charitable donations to several aftercare organizations and actively participating in the safe transition and long-term placement of retired Thoroughbreds globally.

The late businessman B. Wayne Hughes recognized the early opportunity in the platform by investing in seed round funding to become an active partner with his stallion and breeding operation, Spendthrift Farm.

"Without the partnership of Mr. Hughes and Spendthrift Farm, we would have never achieved the rapid success that we have," said Behrens.

Recently, Experiential Squared began the process of seeking strategic investors to help the business accelerate its growth with a focus on diversifying into other sports and assets.