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An online platform is responsible for the infrastructure, compliance, and payment processing required to run a real-stakes competition
FREMONT, CA: "We believe Triumph is turbocharging player engagement and monetization in a growing gaming category with their SDK that gives gaming studios and developers what they need to build exciting, skill-based games in an ever-changing regulatory landscape," said Niko Bonatsos managing director at General Catalyst. "The leadership team is able to attract strong talent to their growing team, positioning Triumph to expand their reach across platforms, the U.S., and beyond."
Triumph, a plug-and-play tool that helps game developers monetize through skill-based real money tournaments, raised $14.1 million in total funding, led by General Catalyst and including Heroic Ventures, Hanover Technology Investment Management, SteelPerlot, RavenOne, Box Group, Great Oaks, NOMO, Strike, and Valhalla Ventures. The prior seed round was led by Ari Stiegler at Flux Capital and totaled $1.2 million. Through the provision of various tools for creating gaming experiences that use real money competitions and rewards, Triumph's platform increases the revenue potential for game producers.
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Triumph oversees all facets of real money competitions and prize infrastructure on behalf of developers. Jacob Brooks, co-founder and co-CEO of Triumph, stated, "Our mission is to empower development teams of all sizes to build distinctive experiences around real money competition." Players that play actual prize games play 3.6 times more per month on average, generating $54 in average monthly income per user. Triumph-powered games boost player engagement and lifetime value and significantly increase revenue for game publishers.
Only the biggest game studios, which could afford to invest millions in bringing a real money system online, have historically had access due to the considerable expenses and legal complications around actual stakes. "Navigating a patchwork regulatory framework at the state and federal levels is necessary to create a compliant and flexible real money system. According to Jared Geller, co-founder and co-CEO of Triumph, "Our game-agnostic infrastructure streamlines gaming law, high-risk payment processing, KYC, and anti-fraud with ease.
Triumph intends to use its Series A capital to diversify outside mobile platforms and provide new real-money experiences. Triumph currently serves players in 37 states and Washington, D.C., but as the legal landscape changes, it will continue to grow to accommodate players in other countries. Triumph has made significant additions, including Bruce Yang as Head of Product, Jamin Horn as General Counsel, and Bennie Huang as Head of Engineering, to support enlarged operations.
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