France-based mobile game development studio Million Victories announced today that it has raised $3 million in a Series A investment round led by Griffin Gaming Partners, an American venture capital fund investing in the global growth of the gaming industry. Million Victories announced that the studio will use this funding to increase headcount, scale its fast-growing user base, diversify its portfolio and develop new core mobile games.
Headquartered in Lyon, France, Million Victories has over 500,000 downloads on mobile. The studio, which is the developer of the game called Million Lords, an online multiplayer strategy game with a rating of 4.4 on the App Store and 4.03 on Google Play, seems to have achieved a lot of success in terms of the time users spend in the game.
Million Lords has a user base that spends an average of 90 minutes per day in the game. The game has been featured on the main page of the App Store 32 times and considering that the game receives 2 to 4 updates per month, the developers seem to like their games very much. Million Lords also showed above-average monetization results for games in the same segment.
Million Victories aims to make Million Lords a major name in the strategy game category, a segment that generates over $1 billion in revenue. The studio, whose users are mostly in Europe, aims to acquire new users in key markets, including the United States, Europe, and Asia.
Stating that they will add new ones to the esports and community events they have held in the past months with this investment, Million Victories also drew attention to the importance that should be given to the community for good interaction.
Benoît Ducrest, co-founder and CEO of Milion Victories, made the following statements;
“We appreciate Griffin Gaming Partners’ approach and their support during this round. It’s uncommon for an American venture capital fund to support a French company in our sector. It’s with great ambition that we start the next phase of our development, in France as well as in the United States,”
Griffin Gaming Partners, a venture capital firm focused on investing in the global gaming market, established with the partnership of Peter Levin, Phil Sanderson and Nick Tuosto, evaluates the cooperation with Griffin Gaming Partners partner Pierre Planche;
“We are thrilled to partner closely with Million Victories; Benoît and the team understand what it takes to make a great mobile game and especially in the 4X strategy category. They have quickly proved industry leading metrics with Million Lords, and their roadmap ahead will provide additional exciting experiences for their current title and beyond”