Esports venture capitalists, Konvoy Ventures have invested into San Francisco-based Game of Whales as part of their $2m (£1.72) seed funding round. Game of Whales produces video game developer fully autonomous tool that programmatically Lifts users LTV by increasing conversion rates, ARPPU, prevent churn and increase retention rates.
Speaking of the investment, Doron Kagan, Co-Founder & CEO of Game of Whales said: “We are thrilled to have the backing of Konvoy Ventures as endemic investors and believe they will be an asset as we pursue arming game developers and publishers with a fully automated platform that uses actionable insights to address player churn, drive in-app purchases and ad revenues.”
Game of Whales has claimed that when video game developers tested their software on 24M+ users, they saw churn decrease, revenue increase, and the conversion rate increase from the reported standard of 2%. Mobile developers had previously claimed that they are seeing a 50% daily churn rate, much much higher than when using Game of Whales’ tools.
“We are thrilled to have the backing of Konvoy Ventures”
Jason Chapman, Managing Partner of Konvoy Ventures said of the deal: “Doron, Maya, and Dmitry have built three successful companies in the industry – two of which were acquired, and the third, Deemedya, is still going strong with 220M downloads We are excited to help them build Game of Whales.”
Josh Chapman, will be joining us at ESI New York on April 23rd for our Investment in esports round-table alongside the likes of Bobby Sharma, Special Adviser to Sports Industry Team at Foley and Lardner LLP, and Chris Chaney from the Chaney Group.
Esports insider says: With the push towards more mobile esports, especially within the Asian market, anything that helps developers increase revenues to put towards prize-pools for tournaments is clearly a good thing.