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14 Million in Venture Capital for an Israeli Social Gaming Company

A social gaming venture from Israel succeeds in raising a whopping $14 million from venture capitalists.

Israeli gambling laws - GamingZion

Not so long ago, Dragonplay, a social gaming company operating in full compliance with Israeli gambling laws announced it was seeking venture capital to fund its online operations strategy.

Recent Israel gambling news report that Dragonplay had successfully generated $14 million, more than enough to carry out a juicy marketing campaign. The company’s effective poker product lures in as many as 2 million new players a month.

Dragonplay develops a free-to-play social gaming platform popular with a wide range of clientele. The company succeeded in securing the funding from Accel Parners as well as Founder Collective and Entree Capital. Additionally, a partner at Accel Partners, Adam Valkin, joined Dragonplay’s board of directors.

Dragonplay’s product, Live Holdem Poker Pro, already enjoys great popularity and the new funds are planned to be utilized in order to venture into Android and Facebook games. Other platforms including iOS are also planned.

Additionally, the company plans to use the capital for expanding its team and game development capacity as well as possible acquisition of another studio. No plans have yet been made public about the company’s intentions to take on the market of online casinos in Israel.

Dragonplay was founded in 2010 by Sharon Tal and established its headquarters in Tel Aviv. The company became one of the pioneers of social gaming to focus on Android platform. Among the recent games from the company, players are welcome to enjoy Live Blackjack, Sea Battle and Farm Slots.

Adam Valkin of Accel Partners, commented: “Dragonplay benefits directly from the spectacular growth of Android (estimated at more than 800,000 new activations per day), the emergence of smartphones as a primary gaming platform and the impressive growth of the virtual goods market.”

He went on to add: “This together with Dragonplay’s cross-platform approach and the team’s excellent performance to date suggests that the company is well positioned to continue its rapid growth.”

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