Total amount raised
$297 Millions
Latest funding date
Location
Mythical Games has successfully raised significant funding through multiple rounds, with its most recent being a Series C round. The company is known for its innovative approach to integrating player-owned economies into video games.
With a diverse portfolio of games and a robust platform, Mythical Games continues to attract substantial investment from a wide range of investors. Keep reading to explore the intricacies of Mythical Games' fundraising journey and the investors backing this dynamic platform.
What Is Mythical Games?
Mythical Games, founded in April 2018, is a pioneering company in the gaming industry, focusing on blockchain-based games and digital asset ownership. The company is headquartered in Sherman Oaks, California, and has a team of over 200 employees spread across five global offices.
The founders of Mythical Games include Cameron Thacker, Chris Downs, Jamie Jackson, Rudy Koch, and John Linden, who also serves as the CEO. The company aims to redefine gaming by offering true ownership of in-game items, leveraging blockchain technology to create a secondary economy within games.
How Much Funding Has Mythical Games Raised?
- Seed Round
- Amount Raised: $1M
- Date: June 2018
- Lead Investors: Struck Crypto
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial products.
- Series A Round
- Amount Raised: $15M
- Date: November 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A Round
- Amount Raised: $19M
- Date: November 2019
- Lead Investors: Javelin Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and scale operations.
- Series B Round
- Amount Raised: $75M
- Date: June 2021
- Lead Investors: WestCap
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand market reach.
- Series C Round
- Amount Raised: $150M
- Date: November 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: $1.25 billion
- Motivation Behind the Round: To scale operations and develop the Web3 gaming platform.
- Series C Round
- Amount Raised: $37M
- Date: June 2023
- Lead Investors: Scytale Digital
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To optimize for profitability and develop a new marketplace.
- Series C Round
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: Alumni Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and enhancing the platform.
Total Amount Raised: $297M
Current Valuation: Over $1 billion
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz is a prominent venture capital firm known for investing in technology companies. They have been involved in multiple funding rounds for Mythical Games, including the Series C round.
- Investment Focus Areas: Technology, blockchain, consumer internet.
- Notable Investments: Facebook, Airbnb, Coinbase.
- WestCap
- Details: WestCap is an investment firm that focuses on growth equity and venture capital. They have participated in several funding rounds for Mythical Games, including the Series B and Series C rounds.
- Investment Focus Areas: Growth-stage companies, technology, consumer sectors.
- Notable Investments: Airbnb, StubHub, iCapital Network.
- Animoca Brands
- Details: Animoca Brands is a company known for its investments in blockchain gaming and NFTs. They joined Mythical Games' Series C funding round.
- Investment Focus Areas: Blockchain gaming, NFTs, digital entertainment.
- Notable Investments: The Sandbox, Axie Infinity, OpenSea.
- ARK Invest
- Details: ARK Invest is an investment management firm that focuses on disruptive innovation. They participated in the Series C funding round for Mythical Games.
- Investment Focus Areas: Disruptive innovation, technology, healthcare.
- Notable Investments: Tesla, Square, Roku.
- Scytale Digital
- Details: Scytale Digital is an investment firm that focuses on blockchain solutions and Web3 ecosystems. They led the Series C1 funding round for Mythical Games.
- Investment Focus Areas: Blockchain solutions, Web3 ecosystems.
- Notable Investments: Various projects in gaming, music, legaltech, security, blockchain, and metaverse infrastructure.
What's Next for Mythical Games?
Mythical Games stands on the brink of significant opportunities, driven by its recent $37 million funding round. The company plans to launch a new in-game marketplace and expand its game portfolio with titles like "Nitro National World Tour." With the success of "NFL Rivals," which has surpassed 1 million downloads, the potential for growth is immense.
Future fundraising looks promising, with an additional $20-$30 million expected to close the Series C1 round. This influx of capital will help Mythical Games achieve profitability within 12 months and scale its infrastructure to accommodate a larger user base. The company is also exploring the integration of NFT marketplaces within mobile apps, a move that could attract further investment.
However, challenges lie ahead. Achieving profitability within the set timeframe, navigating the competitive landscape of blockchain gaming, and successfully migrating to the Polkadot ecosystem are significant hurdles. Yet, with a robust strategy and strong investor backing, Mythical Games is well-positioned to overcome these obstacles and continue its upward trajectory in the gaming industry.
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