Nifty Games just announced it raised an additional $38 million in new capital in a Series B round of equity funding led by Vulcan Capital.
On Tuesday, video game developer and publisher Nifty Games Inc. announced that it has raised $26 million in a Series B round of equity funding led by Vulcan Capital, with an additional $12 million secured in connected debt financing.
This additional funding now makes Nifty Games one of the industry’s most well-funded mobile gaming startups with partnerships and licenses from the National Football League (NFL), National Football League Players Association (NFLPA), National Basketball Association (NBA), and National Basketball Player Association (NBPA).
For the uninitiated, a Series B round is typically centered around startups that are looking to increase production or sales, allowing for the company to scale up its production and reach more customers. This serves as the “third wave” of funding needed for a startup, predicated upon two previously successful funding rounds. It is not uncommon during a Series B round for investors to assist, helping to move a small business into a larger business bracket.
Since its 2018 inception, Nifty Games has continued to attract investors globally, raising over $50 million with gaming industry veterans Jon Middleton and Pete Wanat at the helm.
“Professional sports leagues have been searching for ways to grow their younger fan base for years,” says Mike Birt, Director of Branding and Partnerships at LifeFlip Media. “Partnering with a game brand will help these leagues reach new fans they never would have been able to connect with otherwise. It’s a great way for professional sports to connect with a younger audience and create new fans.”
Led by Vulcan Capital, the company’s Series B round also is supported by ongoing investors March Capital Partners, Defy Partners and Courtside Ventures, as well as a strategic group of new investors, including Korea-based funds Woori Capital, K-NET and Hansae Yes24. Other new investors include Steve Pagliuca, managing owner of the Boston Celtics, Speedwagon Capital, and Gaingels, a global network of LGBT/Ally investors.
“With Nifty Games Series B, we’ve been fortunate to add further investments from partners that are true supporters with each believing in our team and the larger opportunity ahead,” said Jon Middleton, CEO of Nifty Games. “We’ve purpose-built Nifty Games to deliver a new slate of sports games for mobile gamers worldwide. We’re proud of the team we’ve assembled, our incredible partnerships with the NFL, NFLPA, NBA, and the NBPA, as well as our family of financial backers committed to seeing Nifty Games win big. We’re excited to grow Nifty Games as NFL Clash and NBA Clash lead the way!”
With an anticipated launch of NFL Clash in the U.S. this year, Nifty Games is also preparing for the subsequent release of NBA Clash, which has both the NFL and NBA on their feet.
“Nifty Games sits at the exciting intersection of sports fandoms, mobile gaming, and IP driven business models,” said Stephen Pagliuca, co-owner of the Boston Celtics and co-chair of Bain Capital.
“NFL Clash sees players facing off in real-time multiplayer matches designed for quick, easy play,” Eric Mitchell, CEO and Head of Talent Relations at LifeFlip Media. “It utilizes official teams from the NFL, thanks to a licensing agreement from it and the NFLPA, allowing players to collect football stars and build their team from those players.”
“I’ve been impressed with the team’s vision and execution to date, and believe their approach will redefine the mobile sports game sector. And as a fan myself, I can’t wait to play their games and see them top the charts!”
As for Vulcan Capital, there seems to be a powerful commercial opportunity to bridge the gap between premium sports games and mobile phones. “Given our early involvement with Nifty Games, we’re excited to step up our support as they head towards making their first games, NFL Clash and NBA Clash, available to sports fans worldwide,” YB Choi, partner at Vulcan Capital, told PopWrapped. “We see an incredible commercial opportunity in bringing premium sports games to casual mobile game fans, in which they get to build a roster with favorite pro players and call the shots as their team competes all season long.”
