Total amount raised
$390.5 Millions
Latest funding date
01/01/2022
Location
Mobile Premier League (MPL) is a skill-based eSports platform that offers cash prizes for playing games. The company has made significant strides in the gaming industry, attracting a substantial user base and achieving notable financial growth.
Keep reading to explore the intricacies of MPL's fundraising journey and the investors backing this innovative platform.
What Is Mobile Premier League?
Mobile Premier League (MPL) is a skill-based eSports platform founded in 2018 by Sai Srinivas Kiran G, Shubh Malhotra, and Shubham Malhotra. The company is headquartered in Bengaluru, Karnataka, India.
Operating under the legal name Galactus Funware Technology Private Limited, MPL offers a variety of games, including arcade, sports, and adventure games, allowing users to win cash prizes. The company has a significant presence in the eSports and gaming industry, with an employee count ranging from 501 to 1000.
With over 80 million downloads, MPL is one of India's most popular online gaming platforms, known for its secure transactions and high user ratings.
How Much Funding Has Mobile Premier League Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development and launch of the MPL platform.
- Seed Round
- Amount Raised: $5M
- Date: November 2018
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's game offerings and user base.
- Series A
- Amount Raised: $35.5M
- Date: April 2019
- Lead Investors: GO Ventures, Peak XV Partners, Times Internet
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish MPL as a significant player in the mobile esports and gaming industry.
- Series C
- Amount Raised: $90M
- Date: September 2020
- Lead Investors: MDI Ventures, Pegasus Tech Ventures, RTP Global, SIG Global India Fund
- Valuation at Round: $945M
- Motivation Behind the Round: To continue expanding MPL's user base and enhance its platform offerings.
- Series D
- Amount Raised: $95M
- Date: February 2021
- Lead Investors: Composite Capital Management, Moore Strategic Ventures
- Valuation at Round: $945M
- Motivation Behind the Round: To support the company's growth and expansion efforts.
- Series E
- Amount Raised: $150M
- Date: September 2021
- Lead Investors: Legatum
- Valuation at Round: $2.3B
- Motivation Behind the Round: To finance MPL's global expansion, invest in technology, and drive growth in the Indian market.
- Venture Round
- Amount Raised: $15M
- Date: January 2022
- Lead Investors: Alameda Research
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and expand its market reach.
Total Amount Raised: $390.5M
Current Valuation: $2.3B
Key Investors
- Legatum Capital
- Details: Legatum Capital is a private investment firm that led the Series E funding round for MPL. Mark Stoleson, the CEO, will join MPL's board.
- Investment Focus Areas: Long-term investments, technology, mobile esports.
- Notable Investments: Not publicly disclosed.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm known for investing in early-stage technology companies. They participated in MPL's seed round.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Apple, Google, WhatsApp.
- Moore Strategic Ventures
- Details: Moore Strategic Ventures is an investment firm that participated in MPL's Series D and Series E funding rounds. They focus on strategic investments across various sectors.
- Investment Focus Areas: Technology, finance, real estate.
- Notable Investments: Not publicly disclosed.
- RTP Global
- Details: RTP Global is a venture capital firm focusing on early-stage technology investments. They have been involved in multiple funding rounds for MPL.
- Investment Focus Areas: Technology, fintech, healthcare.
- Notable Investments: Not publicly disclosed.
- GO Ventures
- Details: GO Ventures is an investment firm that participated in MPL's Series A funding round. They focus on technology and innovation.
- Investment Focus Areas: Technology, innovation, startups.
- Notable Investments: Not publicly disclosed.
What's Next for Mobile Premier League?
Mobile Premier League (MPL) is poised for significant growth, with opportunities in global expansion, particularly in the U.S. market, and continued growth in India. The company aims to leverage its recent $150 million Series E funding to enhance its technology and expand its user base, which already exceeds 85 million globally. The potential for growth is immense, with the U.S. market alone offering substantial revenue opportunities.
Future fundraising efforts are likely as MPL continues to attract venture capital and strategic investments. The company's trajectory suggests potential for additional funding rounds or even a public listing. However, MPL will face challenges such as intense competition, regulatory hurdles, and maintaining user engagement. Strategic acquisitions and partnerships, like the one with Play Magnus Group, will be crucial in navigating these challenges and sustaining growth.
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