Second funding round for PlaySpace brings total to $3 million
Spanish social developer PlaySpace has benefited from a second successful round of funding, bringing the total amount raised by the company to GBP 3 million.
The funding was lead by existing supporter Faraday Venture Partners but also brought on board a new investor in the shape of the José Manuel Entrecanales Foundation, a major start-up funder in the Spanish region. They join Mola.com and PeopleFund as shareholders.
"The video games sector has not been a traditional focus for the Foundation's investments," said Pablo Ventura of the JMEF. "However, we believe in this project after having analyzed the amazing results they have had, their passion and commitment that the management team have shown over the last three years."
PlaySpace hopes to use the funding to cement its domestic position and grow its influence in other Spanish-speaking markets, notably South America.
The social gaming sector has seen significant growth in recent years, with mobile gaming revenues predicted to exceed traditional console revenues for the first time in 2015. The latest new funding will enable PlaySpace to not only consolidate its position within the Spanish mobile games market, but support its global expansion within key markets including the U.S. and Latin America region.
The company was founded by Enrique Dubois and Alfonso Villar in 2011 and was incubated and accelerated through Mola.com. It is based in Palma de Mallorca and has over 25 employees and more than 10 million registered users in several countries. Over one million international active monthly users visit their 9 multi-platform games on Facebook, web, iOS, Android and Amazon.
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