Voodoo has successfully raised $201.4 million over five funding rounds, achieving a valuation of $1.4 billion. The company specializes in mobile games and apps, boasting 7 billion downloads and 200 million monthly active users.
Keep reading to explore the intricacies of Voodoo's fundraising journey and the investors backing this innovative platform.
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 200 million monthly active users.
With a workforce of 800 employees, Voodoo continues to innovate and lead in the mobile gaming sector, recently venturing into blockchain gaming. 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, typically for early-stage development.
- June 2014
- Amount Raised: $350,000
- Date: June 2014
- Valuation at Round: $1M
- Motivation Behind the Round: Seed funding round, typically for early-stage development.
- October 2015
- Amount Raised: $1,000,000
- Date: October 2015
- Motivation Behind the Round: Seed funding round, typically for early-stage development.
- May 2018
- Amount Raised: $200,000,000
- Date: May 2018
- Lead Investors: Goldman Sachs
- Motivation Behind the Round: To support growth and expansion.
- August 2020
- 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.
Total Amount Raised: $201,450,000
Current Valuation: $1.4 billion
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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