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Kooply Announces $18 Million Seed Funding to Enable its Mobile Gaming Development Platform
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Rhea-AI Summary
Kooply, a stealth-mode gaming platform, has secured $18 million in seed funding co-led by TPY Capital and M12, Microsoft’s venture fund, alongside Playtika (NASDAQ:PLTQ). The funds will help bring its innovative game creation platform to market, targeting mobile gaming, which is projected to reach $272 billion by 2030. The company’s leadership team, including experienced professionals from notable gaming companies, aims to foster a community where players and creators collaborate in game development.
Positive
Secured $18 million in seed funding to develop its game creation platform.
Strong backing from significant investors including TPY Capital, M12, and Playtika (NASDAQ:PLTQ).
Focus on the rapidly growing mobile gaming industry, projected to reach $272 billion by 2030.
Experienced leadership team with a solid history in the gaming industry.
Negative
None.
Currently still in stealth, the company will use the new capital to bring its product to market
TEL AVIV, Israel--(BUSINESS WIRE)--
Kooply, a stealth-mode game platform enabling creative expression through mobile games and experiences, today announced $18 million in seed funding co-led by TPY Capital and Microsoft’s venture fund M12, as well as Playtika (NASDAQ:PLTQ). Additional investors include U.S.-based Aleph Venture Partners, Entrée Capital, Glilot Capital Partners and Samsung Next. The capital will be used to further grow the team and bring Kooply’s product to market. Dekel Persi and Guy Yamen from TPY Capital, Irad Dor from M12, and Raz Friedman from Playtika have joined its Board of Directors. The investment team behind this funding round brings incredible domain expertise, industry position and a vote of confidence in Kooply’s mission.
While the company is not currently sharing full details of its product, Kooply’s vision revolves around building a game creation platform that brings together players, creators and developers in a mobile-centric community. With a reimagined approach to game development, distribution and monetization, Kooply will allow creators to build the games they desire and reach the audience they deserve.
“The last few years have underscored the importance of games as social interactions, a core principle of our product,” said Kooply co-founder and CEO Ido Yablonka. “We strive to nurture a global community of connected creators that develop innovative and fun mobile games. With some of the very largest gaming, console and mobile device makers backing and partnering with us, we are well positioned to introduce Kooply in 2022 and help creators engage with gamers across a wide range of possibilities which simply aren’t available today.”
According to GlobalData, mobile gaming is set to be a $272 billion industry by 2030, and is already bigger than the console and PC gaming markets combined, contributing nearly 57% of global video games revenue in 2020. As usage of mobile devices - especially for gaming - surged during the pandemic, Kooply identified the need for a social platform that connects creators directly with the gamers they are creating for, allowing them to solicit input, incorporate feedback and make the best mobile games possible.
“Kooply embodies everything TPY Capital seeks in a startup: a visionary, yet grounded team with mutual entrepreneurial backgrounds, and a close proximity to the challenges mobile developers face,” said Dekel Persi, Co-Founder and Managing Partner of TPY Capital. “Add to that a bold perspective on how to democratize game development and favorable trends such as the growth of UGC in game development, as well as the prominence of mobile in this space, and this becomes an extremely compelling story.”
“We believe Kooply has the potential to create an entirely new gaming category that can capture hundreds of millions of users,” said M12 Partner Irad Dor. “Kooply is tapping into a rapidly growing market that has been disrupted by technological advances in mobile networks, devices, and consumer behavior. They understand how to meet users where they are, with compelling content they’ll want to stay and engage with. The ability to create for the mobile domain first will be increasingly valuable as the metaverse becomes more established and consumers seek new experiences.”
Eric Rapps, Chief Strategy Officer at Playtika, adds, “As a company, we strongly believe in encouraging and supporting visionary gaming entrepreneurs. What stood out most about Kooply’s approach was its focus on mobile native creation specifically and the ease of use of its tools not just to create experiences, but also to operate these experiences after their creation. As an industry leader in mobile games and live operations, Playtika understands the importance and complexity of running games as a service long after the original product creation. Kooply is one of the few companies to understand the game management challenges and lower the barriers to operate user generated content and games as a creator.”
“Mobile is the largest and most important segment of the global games market and Kooply is developing the definitive mobile native gaming platform addressing this massive opportunity,” said Barak Bussel, Founding Partner of Aleph Venture Partners. “As consumers now move into ever more immersive metaverse experiences, the Kooply team is uniquely positioned to transform every player into a world builder and creator,” he added.
Founded in 2021 by Ido Yablonka, Vadim Zak and Guy Pitelko, for whom this is the second startup together, having previously sold ClarityRay to Yahoo. The company is headquartered in Tel Aviv and has assembled a world-class leadership team dedicated to lead the next wave of mobile game development. Yablonka, the company's CEO and co-founder, has led six previous exits to companies including Palo-Alto Networks, Tencent, and Yahoo - of which he was also the Israeli GM, and VP Product for Yahoo Search, a multi-billion dollar business. Kooply also added Ido Schwartzman to its team as CTO. Schwartzman has decades of gaming experience and is the former chief architect of CrazyLabs, a top-3 global mobile gaming developer and publisher recently acquired for $200 million. Another key appointment is Eyal Biran joining as director of product, until recently head of streaming product at Overwolf, a gaming content platform which had raised $150M to date. Kooply plans to triple its employee base over the next six months.
About Kooply
Kooply is a stealth-mode startup with the mission of bringing together players, creators and developers in a mobile-centric community. Addressing industry challenges like game development, art, monetization and distribution from an entirely new perspective, Kooply allows creators to build the games they desire with help from a community of gamers and developers. Kooply was founded in 2021 and is headquartered in Tel Aviv, Israel. To learn more, visit kooply.com.
About TPY Capital
TYP Capital is a Tel Aviv based early stage VC, investing in some of Israel’s most talented entrepreneurs. We are active investors who typically lead rounds in the areas we invest in, which include data and analytics, digitization and human augmentation, fintech and frontier tech such as quantum computing.
M12, Microsoft’s venture fund, invests in early-stage technology companies disrupting the enterprise. Since 2016, M12 has invested in over 100 companies, helping startups accelerate growth with unparalleled access to Microsoft. With offices in San Francisco, Seattle, London, Tel Aviv, and Bengaluru, M12 has the team and resources to support entrepreneurs globally. M12 is a return-driven fund investing independently of Microsoft's business units and technology offerings. https://m12.vc/
About Playtika Holding Corp.
Playtika Holding Corp. is a leading mobile gaming company with over 36 million monthly active users across a portfolio of games. Founded in 2010, Playtika was among the first to offer free-to-play social games on social networks and, shortly after, on mobile platforms. Headquartered in Herzliya, Israel, and guided by a mission to entertain the world through infinite ways to play, Playtika has 20 offices worldwide including Tel-Aviv, London, Berlin, Vienna, Helsinki, Montreal, Chicago, Las Vegas, Santa Monica, Newport Beach, Sydney, Kiev, Bucharest, Minsk, Dnepr, Vinnytsia, Lausanne, and Warsaw.
About Aleph Venture Partners
Aleph Venture Partners is a U.S.-based early-stage venture capital firm that invests in world-class entrepreneurs who are disrupting major industries. At Aleph, we believe in harnessing frontier technologies in building a better, more harmonious and sustainable future. We’re focused on startups in sectors including AI/ML, cybersecurity, gaming and metaverse, quantum computing, renewable energy, robotics and space. alephvp.com
