Austin-based social and Web3 gaming & commerce platform INK Games has raised $18.75 million in a new Series B funding round, as reported by VentureBeat.
Founded in 2019 by Robert Towles and Joshua Gause, INK Games’ platform aims to allow users to make money from playing games and through referrals. ”With our technology, users can onboard their entire connectivity and social reach — and monetize their viral reach, forever,” CEO and co-founder Towles said.
The startup raised nearly $1 million in its seed funding in January 2019, and secured $9.5 million in a Series A round which took place last September. The latest round brings the total funding amount it has raised up to $29.3 million.
INK Games plans to use the funding money to enhance its platform and its upcoming mobile title ‘Prize Kingdoms’, which is expected to be launched later this year.
The startup has been testing the mobile game in several markets for a while now. INK’s Chief Commercial Officer and Co-founder Josh Gause said that users are playing the game everyday for hours. ”Engagement rates are already incredible across various segments and demographics, including age and gender. Users are blown away by the competitive social features and opportunity to win real prizes,” said Gause.
He added that they’re expecting a ‘mass-market success’ following the official launch of Prize Kingdoms.