Total amount raised
$75 Million
Latest funding date
3/1/2022
Location
Games24x7 has successfully raised funding over two rounds, attracting notable investors such as Malabar Investment Advisors and Tiger Global Management. The company is known for its diverse gaming platforms, including RummyCircle, My11Circle, and Wowzy, which leverage AI and data to enhance user experiences.
Keep reading to explore the intricacies of Games24x7's fundraising journey and the investors backing this innovative platform.
What Is Games24x7?
Games24x7, based in Mumbai, Maharashtra, India, is a prominent player in the digital gaming industry. The company specializes in Real Money Skill Gaming, Daily Fantasy Sports, and Casual Gaming, leveraging AI and data science to create engaging experiences for its users.
Founded by passionate individuals, Games24x7 has grown to employ between 501-1000 people. The company operates popular gaming platforms such as RummyCircle, My11Circle, and Wowzy, and boasts a user base of over 120 million players.
How Much Funding Has Games24x7 Raised?
- Series Unknown
- Amount Raised: USD 75,000,000
- Date: March 2022
- Lead Investors: Malabar Investment Advisors, Tiger Global, Raine Group
- Valuation at Round: USD 2.5 billion
- Motivation Behind the Round: To capitalize on India's growing online skill gaming market and accelerate user growth, content development, and technological capabilities.
- Seed
- Date: June 2006
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial gaming platforms.
Total Amount Raised: USD 75,000,000
Current Valuation: USD 2.5 billion
Key Investors
- Malabar Investment Advisors
- Details: Malabar Investment Advisors is a prominent investment firm that led the recent $75 million funding round for Games24x7. Sumeet Nagar, the Managing Director, has praised the company's business model and growth metrics.
- Investment Focus Areas: High-growth companies, strong acquisition and retention metrics, data science capabilities.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Tiger Global Management
- Details: Tiger Global Management is a well-known investment firm that participated in the recent funding round for Games24x7 as an existing investor. The firm is recognized for its investments in technology-driven companies and startups.
- Investment Focus Areas: Technology-driven companies, startups with high growth potential.
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Raine Group
- Details: Raine Group is an investment and advisory firm that participated in the recent funding round for Games24x7. The firm also served as the financial advisor for this round.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Specific notable investments are not mentioned in the sources.
What's Next for Games24x7?
Games24x7 stands at the cusp of significant growth opportunities, driven by its recent $75 million funding round. With a valuation of $2.5 billion, the company is poised to accelerate user growth, develop new content, and enhance its technological capabilities. The Indian online gaming market is expanding rapidly, offering a fertile ground for Games24x7 to launch more games and attract a larger user base.
Future fundraising opportunities appear promising, given the positive investor sentiment and the company's robust performance metrics. Games24x7 is actively seeking investment opportunities to build synergies and invest in other ventures, which could further bolster its market position. However, the company faces challenges such as intense competition, regulatory scrutiny, and the need to maintain high user acquisition and retention metrics.
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