Playstudios, a Burlingame, Calif.-based social casino developer, secured $20m in Series C financing.
The round was led by Jafco Ventures, with participation from its existing strategic and institutional investors.
The company intends to use the funds to continue to grow operations.
Led by Andrew Pascal, founder, president and chief executive officer, Playstudios is known for its free-to-play apps myVEGAS Slots and myVEGAS Blackjack. The myVEGAS games are free-to-play and offer loyal users a chance to earn real-world rewards from travel, leisure, and hospitality brands including ARIA, Bellagio, Royal Caribbean International, Cirque du Soleil, MGM Grand, Wolfgang Puck, House of Blues, Mandalay Bay, the Mirage, the Las Vegas Monorail, and Sugar Factory. To date, myVEGAS players have redeemed over 1 million rewards with a retail value in excess of $25 million.
Launched in late-2012, the company has more than 18 million downloads and over 1.25 million daily active users.
FinSMEs
23/10/2014