Total amount raised
$910 Million
Latest funding date
11/1/2021
Location
Forte has successfully raised funding over multiple rounds, with the latest being a Series B round. The company has also made several strategic investments and raised a venture fund named Blockchain Gaming Fund.
Forte is backed by a diverse group of investors, including Samsung NEXT’s Q Fund and zVentures. Keep reading to explore the intricacies of Forte's fundraising journey and the investors backing this innovative platform.
What Is Forte?
Forte is an economic technology company for games that powers NFTs and rich token economies. Based in San Francisco, California, the company operates in the blockchain, developer platform, eSports, gaming, and video games industries.
With an employee count ranging from 11 to 50, Forte has raised funding through multiple rounds, including a Series B round. The company provides on-chain compliance solutions and economic tools for blockchain projects, emphasizing rule definition, asset safeguarding, and regulatory compliance.
How Much Funding Has Forte Raised?
- Series B
- Amount Raised: USD 725,000,000
- Date: November 2021
- Lead Investors: Kora, Sea Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand services and onboard more game publishers, preparing all game developers to be successful in the blockchain gaming space.
- Series A
- Amount Raised: USD 185,000,000
- Date: May 2021
- Lead Investors: Griffin Gaming Partners
- Valuation at Round: USD 1,000,000,000
- Motivation Behind the Round: Likely to support initial growth and development efforts.
- Seed Round (October 2019)
- Date: October 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial development.
- Seed Round (March 2019)
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company's foundation and early-stage development.
Total Amount Raised: USD 910,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Kora
- Details: Kora is a lead investor in Forte's Series B funding round. The firm focuses on high-growth technology and financial services companies.
- Investment Focus Areas: Technology, financial services
- Notable Investments: Forte
- Griffin Gaming Partners
- Details: Griffin Gaming Partners led Forte's Series A funding round. The firm specializes in investments within the gaming industry.
- Investment Focus Areas: Gaming, technology, entertainment
- Notable Investments: Forte
- Andreessen Horowitz (a16z)
- Details: Andreessen Horowitz is a prominent venture capital firm known for investing in technology companies. They participated in Forte's Series B funding round.
- Investment Focus Areas: Technology, blockchain, crypto
- Notable Investments: Coinbase, Facebook, various blockchain startups
- Tiger Global
- Details: Tiger Global is a global investment firm that focuses on private and public companies. They participated in Forte's Series B funding round.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Stripe, ByteDance, other high-growth tech companies
- Solana Ventures
- Details: Solana Ventures is the investment arm of Solana, a high-performance blockchain. They participated in Forte's Series B funding round.
- Investment Focus Areas: Blockchain, crypto applications
- Notable Investments: Projects built on the Solana blockchain
What's Next for Forte?
Forte's future looks promising as it aims to expand its services and onboard more game publishers. With partnerships across various blockchain providers, the company is well-positioned to integrate blockchain technology into games, enabling features like NFTs and payment rails. This expansion could significantly increase its user base, which already boasts nearly 20 million monthly active users.
Given the rapid growth and substantial funding already raised, Forte is likely to attract more investment in future rounds. The company may also consider acquiring smaller firms to enhance its platform. However, challenges such as scalability, competition, and navigating the regulatory landscape could pose hurdles along the way.
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