Platform handles complex infrastructure, compliance, and payments processing required to power real stakes competitions
SAN FRANCISCO, May 10, 2023 - Triumph, a plug-and-play solution that helps game developers monetize through skill-based real money tournaments, today announces $14.1 million in total funding, with a $10.2 million Series A led by General Catalyst with participation from Heroic Ventures, Hanover Technology Investment Management, SteelPerlot, RavenOne, Box Group, Great Oaks, NOMO, Strike, and Valhalla Ventures, with the prior seed led by Ari Stiegler at Flux Capital. Triumph's platform multiplies revenue potential for game developers by offering a suite of experience creation tools leveraging real money tournaments and prizes.
Triumph manages all aspects of real money tournaments and prize infrastructure on behalf of developers. "Our mission is to empower development teams of all sizes to build unique experiences around real money competition," said Jacob Brooks, co-founder and co-CEO of Triumph. Triumph-powered games generate significant revenue growth for game developers and increase player engagement and lifetime: players who play real prize games play 3.6x more per month on average, generating $54 in average monthly revenue per user.
The significant costs and legal complexities around real stakes have historically barred access to all but the largest game studios who could invest millions to bring a real money system online. "Creating a compliant and adaptive real money system requires navigating a patchwork regulatory landscape at the state and federal level. Our game-agnostic infrastructure streamlines gaming law, high-risk payment processing, KYC, and anti-fraud with ease," said Jared Geller, co-founder and co-CEO of Triumph.
With their Series A funding, Triumph plans to expand to additional platforms beyond mobile and will offer novel real money experiences. Currently operating in 37 states and Washington D.C., Triumph will continue expanding to serve players in more jurisdictions as the legal landscape evolves. To support scaled operations, Triumph has made key hires including Jamin Horn as General Counsel; Bennie Huang as Head of Engineering; and Bruce Yang as Head of Product.
"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 US and beyond."
Game developers looking to integrate real money tournaments into their mobile games can sign up at triumpharcade.com. Games can be up and running on Triumph in one day, and is a free to integrate service.
About Triumph
Triumph is a seamless, plug-and-play payments and compliance engine that makes skill-based real money tournaments a viable way for developers to monetize their games. Triumph is democratizing access to a robust compliance and payments stack that handles KYC, payments processing, gaming law and privacy compliance, anti-fraud, accounting, and player skill matchmaking, ensuring full legal compliance while shielding developers from exposure to the complexities surrounding real money offerings. Triumph-powered games generate significant revenue growth for game developers and increase player engagement and lifetime: players who play real prize games play 3.6x more per month on average, generating $54 in average monthly revenue per user.
For more information, visit triumpharcade.com
About General Catalyst
General Catalyst is a venture capital firm that invests in powerful, positive change that endures — for our entrepreneurs, our investors, our people, and society. We support founders with a long-term view who challenge the status quo, partnering with them from seed to growth stage and beyond to build companies that withstand the test of time. With offices in San Francisco, Palo Alto, New York City, London, and Boston, the firm has helped support the growth of businesses such as: Airbnb, Deliveroo, Guild, Gusto, Hubspot, Illumio, Lemonade, Livongo, Oscar, Samsara, Snap, Stripe, and Warby Parker.
For more: www.generalcatalyst.com.
SOURCE Triumph
