Crowdpark, a Berlin, Germany-based developer of social betting games, has secured approximately $6m (approximately €4m) in new equity funding.
Backers include Target Partners and existing investor Earlybird Venture Capital.
The company intends to use the funding will be used to enhance the technology, develop cross-platform, create new games, and hire more professionals in game design and development.
Co-founded in 2009 by CPO Ingo Hinterding and CEO Martin Frindt, Crowdpark has developed a betting model that allows users to compete against each other in betting events, using virtual currency. The company’s products offer players the opportunity to bet on real life events in sports, entertainment, news, technology and other topics. Its first social betting game is Bet Tycoon.
In conjunction with the funding, Waldemar Jantz, partner at Target Partners, will join Crowdpark’s board.
The company also has an office in San Francisco, California, USA.