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Players’ Lounge, the award-based gaming platform, has announced that it has closed its Series A funding round, raising $10.5 million. It plans to use the funding for the next round of expansion beyond the realm of sports games.
Griffin Gaming Partners led the round, with Comcast Ventures, Samsung Next, Vice Ventures, WndrCo, Sharp Alpha Partners, True Capital, Myles Garrett, Josh Norman and Breanna Stewart. Since its launch, Players’ Lounge mainly hosts sports game events. Now it plans to expand out of the sports genre and add support for the likes of Call of Duty, Fortnite and others.
Players’ Lounge has made its mark as a betting platform specific to consoles and PC games. Austin Woolridge, one of the co-founders of the platform, told GamesBeat in an interview: “Our vision was to give gamers – all gamers, regardless of skill level – the opportunity to earn and win by playing their favorite triple-A to play. video games.”
As part of the next expansion phase, Players’ Lounge will be expanded to all players. It offers players their own challenges to suit their skill level, for which players can win prizes for completing those challenges. Woolridge added that the company plans to launch a mobile app in the third quarter of 2022. Woolridge added: “Instead of having to play against other gamers, the new app lets you win money by casually playing against a lobby that has no idea you have money at stake… complete challenges to earn money to win, it’s that simple.”
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