Gamefam collected $25 million from its A series financing round, which it started with the goal of developing games for metaverse platforms, especially Roblox. The funding round was led by Konvoy Ventures. Play Ventures, Makers Fund, Bessemer Venture Partners, and Galaxy Interactive were also among the investors in the round.
Gamefam wants to reduce the difficulties they face by offering game manufacturers broader possibilities. This will allow developers to have more opportunities to generate more creative ideas. The company, which has approximately 6.5 million users in the USA and 15 million users all over the world, will use the $25 million fund for its team.
Gamefam stated that it has already started using the said fund to increase its team to over 100 people. Founded in 2019, Gamefam is known for its games developed and published for Roblox, such as All-Star Tower Defense, Tower of Misery, and Twilight Daycare.
Josh Chapman, Managing Partner of Konvoy Ventures, said:
“Metaverse gaming platforms are a new media vertical for brands. Gamefam is at the forefront of building and monetizing mass audiences as they continue to deliver entertaining and social experiences for millions of players. We are thrilled to lead their Series A round and be in their corner for this journey.”
Apart from Roblox, Gamefam also runs servers for games like Minecraft. The company also produces various concerts, events, and in-game content for metaverses.