Quick take:
- The raise has grown the company to a 100-plus person team of Gen-Z digital creators and gaming industry veterans.
- Gamefam has partnered with Mattel, Disney, Paramount, WildBrain, WowWee, Sony and Ubisoft to develop custom branded experiences.
- The company currently has more than 30 games on Roblox.
Gamefam, an American video game developer utilising Roblox as a game development platform, has just announced the closing of a $25 million Series A funding round.
The raise was led by Konvoy Ventures, a venture capital firm that invests in gaming platforms. The firm has previously funded metaverse full-body online 3D avatar platform, Ready Player Me.
Participants in the fundraise include Play Ventures, Makers Fund, Bessemer Venture Partners and Galaxy Interactive.
With the fresh injection of funds, Gamefam has grown its team consisting of more than 100 Gen Z digital creators and gaming industry veterans who are working together to build games, partnerships and “360-degree franchises” within the Roblox metaverse.
“Gamefam is a leader in the UGC and metaverse gaming space. They continue to add incredible partners and creators, which is showing strong results in 15 months of consecutive financial growth,” said Josh Chapman, Managing Partner at Konvoy Ventures. “Metaverse gaming platforms are a new media vertical for brands. Gamefam is at the forefront of building and monetizing mass audiences as they continue to deliver entertaining and social experiences for millions of players. We are thrilled to lead their Series A round and be in their corner for this journey.”
Gamefam said in a press release that the company provides creators with tools, support and resources so they can focus on creativity. The company claims to have helped creators increase game revenue, and brought staffing and marketing.
It has also created brand partnerships and advertising opportunities for brands that want to reach Gamefam’s audience. The game developer has partnered with renowned companies including Mattel, Disney, Paramount, WildBrain, WowWee, Sony and Ubisoft to develop custom branded experiences.
Gamefam boasts 6.5 million unique daily users in the US and 15 million globally. Its portfolio of games sees over 25 million visits a day and 75 million hours of gameplay per month.
“Gamefam is a company started by creators to support creators,” said Joe Ferencz, CEO of Gamefam. “We have been able to bring together experts from AAA gaming as well as some of Roblox’s top native talent to drive successful revenue growth for our games, create opportunities for brands, and build new franchises. We are pioneering a new type of creative media business born from the metaverse.”
Founded in 2019, Gamefam currently has more than 30 games on Roblox. Some of its top-25 titles include Twilight Daycare, All Star Tower Defense and Tower of Misery.
Gamefam is taking its IP outside of the Roblox universe as it is releasing a toy line based on Twilight Daycare in collaboration with toymaker WowWee. The toys are expected to launch in July this year.
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