Skillz, the leader in mobile skill-gaming, today announced a $5.5 million Series A round of financing led by Atlas Venture. The funding will allow Skillz to grow its marketing and customer service teams, supporting over one million consumers who have downloaded the Skillz tournament platform since the company’s launch in April. Skillz will also grow its developer relations team as additional studios continue to integrate cash competitions into their skill-based mobile games.
“We’re expanding rapidly based on the success of our early developer partners,” said Andrew Paradise, CEO and founder of Skillz. “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.”
With 80% of mobile gaming revenue going to just 20 developers in 2012, monetization has proven to be one of the most pressing challenges in an otherwise growing industry. Traditional tools like advertising and in-app purchases have generated revenue for developers, but often at the expense of the gamer experience.
“Cash tournaments are a perfect fit for mobile games because they tap into the intrinsic competitiveness of gamers,” said Jeff Fagnan, Partner at Atlas Venture. “By enabling these competitions in many of today’s most popular games, Skillz is transforming an industry while creating a better ecosystem for both gamers and developers.”
In skill-based games, a player’s ability rather than luck, determines the outcome. This distinction makes betting in skill-based games legal across 37 states for 75% of the American population.
Players interested in competing can find a full list of Skillz-powered games at: www.skillz.com
Developers interested in implementing Skillz tournaments can visit: developers.skillz.com
Skillz, the leading mobile eSports platform, connects the world’s 2.6 billion mobile gamers through competition. In 2018, Skillz was named to Entrepreneur Magazine’s 100 Brilliant Companies, Forbes’ Next Billion-Dollar Startups, and the Entrepreneur 360. Skillz has also been named the #1 fastest-growing private company in America by Inc. Magazine and a CNBC Disruptor 50. Over 18 million gamers use Skillz to compete in mobile games across 13,000+ game studios. Founded in 2012, Skillz is headquartered in San Francisco and backed by leading venture capitalists as well as the owners of the New England Patriots, Milwaukee Bucks, New York Mets and Sacramento Kings. To learn more, visit www.skillz.com.