Free-to-play casino games specialist Dragonplay has unveiled a $14 million strong funding round led by Accel Partners.
Dragonplay, which already enjoys a strong base on Android but is currently in the process of making the leap to iOS, has suggested the money could be used to make acquisitions, with the Tel Aviv-based outfit looking to broaden its library.
Android first
Accel has previously invested in the likes of Rovio, Playfish, Gameforge and Mindcandy, with lead investor Adam Valkin stating Dragonplay's strength is that it chose to grow out of Android first rather than iOS, allowing it to steal a march on its rivals.
"We've seen some massive companies emerge in the [casino games] space," said Valkin, who will join Dragonplay's board as part of the deal.
"Android is an important frontier and a very fast-growing platform. What's interesting about this category is that has massive appeal, the kind that early Zynga games have. And it has high engagement and monetisation rates.
"We look at what the companys achieved in terms of audience and revenues without having spent any money on marketing."
The firm's top title Live Holdem Poker already boasts more than 12 million installs across Android and Facebook and 2 million monthly active users (MAUs), with the game enjoying a 2 to 2.5 percent conversion rate on Google's platform.
Tapjoy's incentivised installs boost that rate to 4 percent.
Expansion, expansion, expansion
Other games released in the last 12 months include Live BlackJack, Farm Slots and Sea Battle.
Dragonplay founder Sharon Tal has claimed further titles will be launched across Android, iOS and Facebook as a result of the investment.
Money will also be used to expand the studio's team, which is currently 23 employees strong. In particular, Dragonplay will focus on gaining a share of the lucrative social gaming market in Asia.
Other investors in the funding round included Founder Collective and Entrée Capital.
[source: Inside Mobile Apps/VentureBeat]
News
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.
Related Articles
Top Stories
News
10 hours, 34 minutes ago
PocketGamer.biz Podcast Week in Mobile Games E12 - Xbox's mobile games store and Unity vs. AppLovin
Feature
May 17th, 2024
New release roundup: The best new mobile games from a battle royale to a console classic remake
Feature
May 16th, 2024
Behind the scenes: How adding sandwich offers to an idle merge game boosted three metrics at once
Events
Digital Dragons | Europe | May 19th |
GamesBeat Summit 2024 | North America | May 20th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Nordic Game Spring 2024 | Nordic | May 21st |
Impact 2024 - Indie Games | May 23rd | |
Morocco Gaming Expo | Africa | May 24th |
MomoCon 2024 | North America | May 24th |
Unreal Fest Gold Coast 2024 | Australasia | May 29th |
Popular Stories
Feature
May 14th, 2024
53 top mobile games in soft launch: Squad Busters, Battle Guys: Royale, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Feature
May 13th, 2024
Hot Five: Dubai's new Gaming Visa, April's mobile game charts, and Xbox studio closures
Feature
May 14th, 2024