LONDON, June 5, 2019 /PRNewswire/ -- PlayWorks has closed an initial £2m funding round led by Vala Capital, a European VC that backs high growth companies across a range of sectors. The PlayWorks investment is one of several that Vala has made in recent months from its inaugural fund.
"PlayWorks is honored to be part of the select group of companies supported by Vala Capital," said Jonathan Boltax, PlayWorks' Chief Executive Officer. "The entrepreneur led fund is unique in the market providing mentoring and network support as well as access to capital. Whilst we had numerous funding opportunities, we felt that Vala offered us the best platform for growth. The investment allows us to continue pioneering our vision of post-app store games on Facebook and other instant games networks, and to develop our brands and licensed IP. Game platforms that are social and instantaneously available are the future of the industry."
Jasper Smith, Partner at Vala Capital, said, "The games industry offers the potential for significant growth, but it is more complex than ever. Having invested in the sector successfully several times, we look for exceptional teams with a vision that goes beyond the 'build it and they will come' approach. Led by Jonathan, PlayWorks has an exceptional team and strategy, a great business and the potential to grow significantly. We look forward to working with the team to make PlayWorks a stand-out success."
More information about PlayWorks can be found at the company website: http://play.works.
PlayWorks is pioneering post-app-store mobile games across social networks and messaging apps. The huge growth in platforms such as Facebook Messenger, WeChat, Apple iMessage and WhatsApp and their universal adoption of games has created the world's largest gaming platform with over 3Bn potential monthly users. With partnerships in place with Facebook, Comcast, LG, Roku and many others, and a massive catalog of live games, PlayWorks is a trusted leader at the forefront of this new revolution. Led by an exceptional team of gaming industry veterans who have successfully created and sold numerous games companies PlayWorks is capitalizing on the changing landscape in the lucrative games market.
About the VALA Fund
Vala Capital is a fast-growing European VC managing assets across regulated and alternative investment funds. Entrepreneur-led, the Vala investment business is a one of the UKs largest venture builders, working with founders from concept to exit across a variety of sectors. Founded by entrepreneur Jasper Smith and industry veteran James Faulkner, Vala provides active mentoring to each of its investments, access to a global network of other founders and strategic partners combined with the financial firepower to enable our portfolio companies to compete on the world stage.