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
Feature
Apr 25th, 2024
"Gaming in MENA is just starting. Investment will bring more attention to the region and create more opportunities"
Feature
Apr 24th, 2024
48 top mobile games in soft launch: Squad Busters, CSR 3, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Events
Esports Future Summit | Middle East | Apr 27th |
Dubai GameExpo Summit 2024 | Middle East | May 1st |
The MENA Games Industry Awards 2024 | Middle East | May 2nd |
GameDev Atlantic 2024 | May 4th | |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Popular Stories
News
Apr 23rd, 2024
Supercell’s Squad Busters soft launches today with over 100,000 Google Play downloads
Feature
Apr 24th, 2024