Lisbon-based FRVR, a games platform company, announced on Wednesday that it has raised $76M (nearly €69.2M) in a fresh round of funding. The company plans to invest in high-quality games for its platform and bring a new level of content to channels in and beyond the app stores.
Investors in this round
The round combines debt financing with an equity investment by Hiro Capital alongside Accel and Makers Fund.
Luke Alvarez, Founding Managing Partner at Hiro Capital, says, “FRVR is at an exciting phase where the strength of their team and distribution network combined with a whole new level of game content, will rapidly grow their player base. With this funding, we are confident that FRVR can bring world-class content to a lot of new players.”
Hiro Capital is a London/Luxembourg technology VC fund, which invests in the UK, US, and European innovators in Games, IP, Metaverse Technology, Web 3.0, Esports, and Gamified Fitness. The firm generally invests at Seed through Series A and B stages.
“Games for everyone, everywhere”
Founded in 2017 by games industry veterans Chris Benjaminsen and Brian Meidell, FRVR is a games platform company that claims to be building an ecosystem to connect billions of players to ‘captivating’ games.
The company’s mission is to democratise game distribution by zero (0) to deliver games for everyone, everywhere, working alongside developers and ‘innovative’ partners. It has built a platform that has reached over 1.5 billion players to date, with millions of active players per day on its platform. Since its inception, FRVR has grown from a small passion project into over 100 employees across six offices worldwide.
Brian Meidell says, “We’re excited to bring the full power of our existing platform and partnerships together with world-class games and game teams and to bring deeper experiences to our many distribution channels. This round allows us to significantly raise the bar for the kind of games you can play across our many game channels, so people will be able to play great games anywhere they are already spending their time.”
The company says it has spent the last year expanding the team, building strong development and distribution partnerships, and bringing ‘great’ games to the platform.
FRVR is a member of IAB US as well as a TCF Vendor Member of IAB Europe. The Interactive Advertising Bureau (IAB) is an American advertising business organisation that develops industry standards, conducts research, and provides legal support for the online advertising industry. The TCF provides flexibility to support different GDPR and e-privacy compliance programmes. It provides vendors that work with a publisher with a way of processing user data by relying on a legal basis permitted under the GDPR.