Megamod, a Raleigh, NC-based provider of a multiplayer gaming platform, raised $1.9M in funding at a post-money valuation of $27 million.
Backers included Alexander Agapitov and his family fund Hand of Midas, as well as Rubylight Fund and other private investors.
The company intends to use the funds to support its go-to-market strategy, including testing a retention and monetization model.
Megamod is a UGC platform designed for creators with limited development expertise and players seeking massive multiplayer experiences. The availability of the games is also ensured by an app called MegaBit which focuses on retention and social interaction. Megamod’s multiplayer capabilities allow thousands of players to interact spend time together. Launched in early 2023, Megamod has proven its ability to create games more cost-effectively and faster than any traditional development company. The cost of creating a unit of content on the platform is approximately $5. For the last 6 months, the company has networked over 2,000 creators who have created over 60,000 games.
FinSMEs
20/06/2024