The agency will help raise the text-message betting firm's profile and handle its media relations up to and beyond the fundraising activity.
The account will be led by College Hill partner James Hogan, who leads its internatonal media practice, having joined from Brunswick last year.
Hogan said: 'BetNOW has a terrific product – a new way of betting by mobile phone which is simple, fast and immediate. The company is now very well positioned to take betting to a whole new level.'
The firm bills itself as the first genuinely intuitive text-based betting service and was established in 2005 by a board with management experience at companies including Vodafone, Sky Sports, Sainsbury's and PartyGaming.
BetNOW's chief executive Robert Urwin said: 'We look forward to working with College Hill as it has an extensive network of media contacts, strong capital markets expertise and an excellent track record in gaming.'