Skillz Raises $5.5 Million In Funding
Skillz is a company that has a real money tournament platform. The company launched on Android this past April. Skillz has raised $5.5 million in Series A funding led by Atlas Venture. Skillz has raised over 1 million users across these games. The funding will be used for expanding Skillz’s marketing and customer service teams.
“We’re expanding rapidly based on the success of our early developer partners…We always knew cash tournaments would significantly boost revenue for mobile games, but developers have been impressed by how much Skillz has increased retention of their hard-earned players,” stated Skillz’s founder and CEO Andrew Paradise.
Skillz offers Android game developers with multiplayer functionality and it is possible for players to compete for virtual currency or real money. Game titles that have Skillz integrated have games that are focused on skill instead of chance. The company raised a total of $6.8 million as they brought in $1.3 million from their seed round.