The developer behind game show app HQ Trivia plans to raise around $15 million from a new funding round, according to a report.
‘Multiple sources’ have told Recode that the funding is set to be led by the Founders Fund, a VC firm backed by billionaire Peter Thiel.
Founders Fund partner Cyan Banister is thought to be leading the investment and could also join the board of directors.
The round, which comes after a previous $8 million investment, would value HQ Trivia developer Intermedia Labs at around $100 million.
It’s claimed that the company would have raised the new round of funding sooner but for the alleged ‘bad behaviour’ of one of the company’s founders, Colin Kroll,
Rise and rise
HQ Trivia is proving to be one of the hottest games on mobile right now, attracting a peak 1.2 million players at the same time for its daily game shows - which occur twice a day on weekdays and once per day at the weekend.
Players who participate in the game stand to win as much as $10,000.
The popular game has been developed by the founders of the once hugely popular video app Vine.
For more on HQ Trivia, check out our article charting the success of mobile trivia games.