How Much Did Fig Raise? Funding & Key Investors

Fig has raised funding over three rounds, with the latest being a Series A round led by Greycroft and Spark Capital.

Keep reading to explore the intricacies of Fig's fundraising journey and the investors backing this innovative platform.

What Is Fig?

Fig is a crowdfunding platform dedicated to video games, operating out of Portland, Oregon. The company has been acquired by Republic and continues to function as a private entity.

Founded with the aim of supporting game developers, Fig has a small but dynamic team of 11-50 employees. The platform has successfully raised funding through Series A rounds, showcasing its growth and potential in the gaming industry.

How Much Funding Has Fig Raised?

1. Pre-Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: April 2015
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To establish the initial foundation and infrastructure for the platform.
2. Seed Round
   • Amount Raised: USD 3,000,000
   • Date: August 2015
   • Lead Investors: Spark Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the platform's capabilities and attract more game developers.
3. Series A Round
   • Amount Raised: USD 7,840,000
   • Date: January 2017
   • Lead Investors: Greycroft, Spark Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate the number of innovative game projects available to investors and backers on the platform.

Total Amount Raised: USD 10,840,000. Current Valuation: Not publicly disclosed.

Key Investors

• Spark Capital
  • Details: Spark Capital is a venture capital firm that invests in startups across various stages and sectors. Nabeel Hyatt from Spark Capital led the investment in Fig and was also the lead investor in Cruise Automation, which was acquired by General Motors for $1 billion.
  • Investment Focus Areas: Media, technology, entertainment
  • Notable Investments: Cruise Automation, Twitter, Oculus
• Greycroft
  • Details: Greycroft is a venture capital firm that focuses on technology startups. Jon Goldman, a Venture Partner at Greycroft and Partner at Skybound, provided a quote in the article. Skybound is known for holding the intellectual property rights to "The Walking Dead."
  • Investment Focus Areas: Technology startups, interactive entertainment, media
  • Notable Investments: Venmo, The RealReal, Huffington Post
• Resolute Ventures
  • Details: Resolute Ventures is a venture capital firm that invests in early-stage companies across various industries. They participated in Fig's Series A round to support the platform's growth.
  • Investment Focus Areas: Early-stage companies
  • Notable Investments: Not specified
• NextView Ventures
  • Details: NextView Ventures is a venture capital firm that focuses on seed-stage investments, particularly in internet-enabled innovation. They were one of the investors in Fig's Series A round.
  • Investment Focus Areas: Seed-stage investments, internet-enabled innovation
  • Notable Investments: Not specified
• Draft Ventures
  • Details: Draft Ventures is a venture capital firm that invests in early-stage technology companies. They joined the Series A round to help Fig expand its platform.
  • Investment Focus Areas: Early-stage technology companies
  • Notable Investments: Not specified

What's Next for Fig?

Fig stands at the cusp of significant growth opportunities within the $100 billion interactive entertainment industry. By increasing the number of innovative game projects available to investors and backers, Fig can leverage its high campaign success rate to attract more fan and institutional investments. This unique model, which allows fans to invest in the financial performance of video games, positions Fig to potentially invite institutional investors to provide matching funds, amplifying the impact of fan investments.

Future fundraising opportunities look promising as Fig explores the involvement of institutional investors, which could lead to larger funding rounds and increased financial stability. However, challenges such as maintaining a high success rate for campaigns, balancing the interests of fan and institutional investors, and navigating the regulatory environment for SEC-qualified shares remain. Despite these hurdles, Fig's innovative approach to game funding could attract significant investment and possibly lead to acquisitions by larger companies looking to enter the crowdfunding space.

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