Mobile esports outfit Skillz has doubled its revenue run-rate to $200 million in just nine months.
The company works with developers to integrate its esports platform into their games and believes powering more competitive play can increase player engagement and revenues.
Skillz grew by over 125 per cent year-on-year in Q1 2018, thanks in part to player engagement in numerous daily tournaments.
The firm currently hosts over one million tournaments per day with the average player spending 63 minutes a day on the platform.
The numbers have led to the company handing out $200 million in total prizes since its inception five years ago, with the platform’s top 10 players claiming over $2 million in 2017 alone.
Skills to pay the bills
Skillz raised $25 million in a Series C funding round led by telecommunications companies Telstra and Liberty Global in December last year.
Over the past three years it claims to have increased its revenues by more than 50,000 per cent, making it one of the US’s fastest-growing companies according to Inc Magazine.