California real-money gambling platform Gamblit takes home $12M in venture round

March 28
11:43 AM 2014

Real-money gambling platform Gamblit Gaming has just closed a $12-million venture round from American Capital. The Glendale-based startup will use the new funding for its company and product expansion, according to VentureBeat.

Gamblit chief marketing officer David Chang said: "We are excited about the enthusiasm for this space. We want to be a bridge to all of the developers that want to enter this space in territories around the world... We want to encourage people to think differently and create brand new gambling games that look a lot more like the games we grew up on. We think that will be attractive to a whole new segment in the market. We want to make games that appeal to the gamer generation."

The company provides an easier way for game developers to create gambling games. Gamblit focuses on games that can be easily adapted in the UK and other places where web-based gambling is legal. The firm takes care of other tasks such as license processing, customer operations, and security, the report detailed.

Established in July 2010, Gamblit currently employs 49 workers. To date, the company has raised a total capital of $20 million, VentureBeat reported.

© 2023 VCPOST, All rights reserved. Do not reproduce without permission.


Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics