SCUTI raises $10 million for its rewards-based e-commerce platform for gamers

SCUTI, a g-commerce platform headquartered in New York, revealed on Tuesday that it successfully secured $10 million in Series A funding. This latest investment marks a significant milestone for the company, as it brings their total funding to $17 million since its founding in 2019.

A prominent family office led the Series A with the primary goal of propelling SCUTI’s worldwide expansion in 2024, with aspirations to elevate the company’s valuation beyond $100 million USD. As part of a strategic maneuver, Mario Alioto from the San Francisco Giants has joined SCUTI’s advisory board.

Founded by a group of seasoned professionals with backgrounds at Blizzard, Epic Games, Zynga, Electronic Arts, and Microsoft Games Studio, Scuti is led by its CEO and founder, Nicholas Longano. With a remarkable 23-year tenure in the video game industry, Longano, formerly the president of Massive, a company he successfully sold to Microsoft in 2006, contributes a rich reservoir of expertise to SCUTI.

SCUTI has seamlessly integrated its technology into over 120 games, reaching a combined monthly audience of 50 million users. Beyond providing rewards, SCUTI monetizes its platform by selling display, video, and audio inventory. Additionally, the platform incorporates intrinsic in-game ads, resembling digital billboards strategically placed within specific titles.

“The landscape of game monetization is evolving with changes in DMA, IDFA, and ATT rules. Traditional methods are no longer effective. AI platforms, like SCUTI, empower game makers to monetize more efficiently while retaining players for extended periods,” said Longano in a statement. “Our lead investor shares our vision, recognizing the immense untapped potential in this blue ocean opportunity. This investment is not just for our benefit but aims to enhance the experience for every game maker and player in our network.”

As SCUTI expands its presence beyond the United States into key gaming markets in Latin America and Asia-Pacific, it is actively seeking assistance in localizing its platform. The company aims to establish partnerships with retailers capable of selling and shipping merchandise in these target markets.

The majority of the Series A funding will be allocated towards recruitment efforts, particularly in roles such as sales, ecommerce, and programmatic support. With a current staff count of 29, SCUTI plans to onboard an additional 16 employees in the first half of this year, according to AdExchanger.