Casino Cash Trac Lands Investment From Serent Capital

Posted on: March 18, 2025, 03:57h. 

Last updated on: March 18, 2025, 03:57h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.
  • Casino Cash Trac lands private equity investment
  • Company makes business-to-business software used by gaming industry

Casino Cash Trac, a maker of business-to-business (B2B) software for casino operators, said today it procured a minority investment from private equity firm Serent Capital.

Casino Cash Trac
The Casino Cash Trac logo. The company landed an investment from a private equity firm. (Image: PR Newswire)

The amount of that investment and Serent’s ownership percentage in Casino Cash Trac were not revealed in a statement highlighting the deal. Founded in 2012, Oklahoma-based Casino Cash Trac is privately held.

Serent Capital’s minority investment will equip CCT with its dedicated Growth Team, providing hands-on expertise to accelerate go-to-market execution, optimize product strategies, and enhance customer engagement,” according to the statement. “With a strong track record in scaling enterprise software companies, Serent has the capability to help CCT expand its market presence, drive product innovation, and unlock new growth opportunities.”

Texas-based Serent usually focuses on founder-led companies in the software-as-a-service (SaaS) space. The firm, which also has an office in San Francisco, is typically among the earliest or the first investor in its target companies.

What Casino Cash Trac Does

Software is integral to a variety of gaming-related functions and there are some pure play companies in the space that are publicly traded, though those corporations’ solutions are largely marketed to sportsbooks and internet casino operators.

On the surface, Casino Cash Trac’s wares appear significantly less glamorous, but the products are no less essential. Gaming clients rely on the company’s Casino Insight platform to audit cash transactions on the casino floor — a vital service because many customers convert cash to chips or put cash into machines. In essence, Casino Insight is an audit and compliance tool that helps clients guard against fraud while realizing some operational efficiencies.

The company’s Insight Cage Vault (ICV) streamlines cage operations while automating one of the most essential functions at any casino: keeping track of money.

“ICV is the only proven & tested solution that allows you to go paperless, eliminate spreadsheets, and automate your cage and vault operations. Variances are tracked in real time removing manual errors,” according to CCT.

The company has 300 North American casino clients and while it doesn’t identify them by name, it notes that group includes operators with a small amount of gaming devices up to 8,000 machines. CCT has 74 employees, according to PitchBook data.

Positive Signals from Casino Cash Trac, Serent Deal

The Casino Cash Trac/Serent deal confirms private equity remains interested in the gaming space and that those investors are willing to look beyond the most obvious targets to unearth value.

While the agreement doesn’t fit the bill as a “megadeal,” it’s still indicative of private equity and venture capital being willing to invest in SaaS providers — a theme that was on display in the late stages of 2024.

“Q4 2024 capped off a string of quarterly gains in deal value for infrastructure SaaS since Q3 2023, but there’s more than meets the eye for the sector,” observes PitchBook. “Aside from Databricks’ record $10 billion fundraise in Q4, the underlying snapshot is more mixed. PitchBook’s latest Emerging Tech Research goes beyond the megadeals, highlighting a shift in the infrastructure SaaS segments that are attracting the most investor excitement. “