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Total amount raised
$570M
Latest funding date
2021-08-02
Location
Voodoo has raised over $570 million in disclosed funding across multiple rounds, with a current valuation of approximately $2.6 billion. The company specializes in mobile games and apps, boasting 7 billion downloads and over 150 million monthly active users.
What Is Voodoo?
Voodoo, founded by Alexandre Yazdi and Laurent Ritter, is a tech company specializing in mobile games and apps. Established in 2013, the company has grown rapidly, achieving significant milestones in the gaming industry.
Headquartered in Paris, Voodoo has expanded its presence globally with offices in Canada, China, and Spain. The company is renowned for its engaging and entertaining apps, boasting over 7 billion downloads and 150 million monthly active users.
With a workforce of 800 employees, Voodoo continues to innovate and lead in the mobile gaming sector, having acquired social media platform BeReal in 2024. For more information, visit their official website or their Wellfound page.
How Much Funding Has Voodoo Raised?
- September 2013
- Amount Raised: $100,000
- Date: September 2013
- Motivation Behind the Round: Seed funding round for early-stage development.
- June 2014
- Amount Raised: $350,000
- Date: June 2014
- Valuation at Round: $1M
- Motivation Behind the Round: Seed funding round for early-stage development.
- October 2015
- Amount Raised: $1,000,000
- Date: October 2015
- Motivation Behind the Round: Seed funding round for early-stage development.
- May 2018
- Amount Raised: $200,000,000
- Date: May 2018
- Lead Investors: Goldman Sachs (via West Street Capital Partners VII)
- Motivation Behind the Round: To support growth and expansion; the largest French tech fundraise since 2015 at the time.
- August 2020
- Amount Raised: Undisclosed
- Date: August 2020
- Lead Investors: Tencent
- Valuation at Round: $1.4B
- Motivation Behind the Round: To expand into the APAC market and leverage Tencent's resources.
- August 2021
- Amount Raised: EUR 266,000,000 (~$315M USD)
- Date: August 2, 2021
- Lead Investors: Groupe Bruxelles Lambert (GBL)
- Valuation at Round: EUR 1.7B (~$1.8B USD)
- Motivation Behind the Round: GBL acquired a 16% minority stake; proceeds to fund growth, acquisitions, and expansion.
- January 2023
- Amount Raised: EUR 30,000,000 (~$32M USD)
- Date: January 2023
- Lead Investors: Eiffel Investment Group and Turenne Capital
- Motivation Behind the Round: Debt financing (obligation relance) to support future growth, indexed on ESG impact criteria.
- July 2024
- Amount Raised: $385,900,000
- Date: July 17, 2024
- Lead Investors: Undisclosed
- Valuation at Round: ~$2.6B
- Motivation Behind the Round: Late-stage VC round to scale company growth and support the acquisition of BeReal.
Total Amount Raised: At least $570M based on disclosed funding (excluding Tencent's undisclosed 2020 investment).
Current Valuation: ~$2.6 billion (as of July 2024)
Key Investors
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It has a significant presence in the financial industry, providing a wide range of services worldwide.
- Investment Focus Areas: Technology, finance, healthcare, real estate, consumer goods.
- Notable Investments: Uber, Spotify, WeWork.
- Tencent
- Details: Tencent is a Chinese multinational conglomerate holding company, known for its various internet-related services and products. It is one of the world's largest technology companies.
- Investment Focus Areas: Gaming, social media, fintech, cloud computing, AI.
- Notable Investments: Epic Games, Riot Games, Tesla.
- GBL (Groupe Bruxelles Lambert)
- Details: GBL is a leading investment holding company in Europe, focusing on long-term value creation. It has a diversified portfolio of investments across various sectors.
- Investment Focus Areas: Technology, consumer goods, healthcare, industrials, energy.
- Notable Investments: Adidas, Pernod Ricard, SGS.
What's Next for Voodoo?
Voodoo's future looks promising as it eyes expansion into the Asia Pacific (APAC) gaming market, leveraging its partnership with Tencent. This region represents half of the global gaming industry, offering immense growth potential. With 25% of its downloads already from APAC, Voodoo is well-positioned to capitalize on this opportunity.
Future fundraising could be on the horizon, given the strategic investments from Goldman Sachs and Tencent. These partnerships not only provide financial backing but also open doors to new markets and technological advancements. However, Voodoo must navigate regulatory challenges in China and manage its rapid growth effectively to maintain its competitive edge.
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