Candivore, the popular mobile game Match Masters developer, which has more than thirty million downloads and five million daily active users, has announced that it has raised $10 million from a funding round. The company will use this fund to develop new multiplayer casual games.
Israel-based venture capital firm Vgames led the investment round. Tiger Global Management stood out as the other important investor in the round. Candivore raised $12 million last year. With the new financing round, the company’s total investment increased to $22 million.
The company has also recently stepped up its advertising activities in the UK. Aiming to bring Match Masters to a larger audience, Candivore has launched a new advertising campaign for both TV and online platforms. As part of its advertising campaign, the company collaborates with famous names such as singer Robbie Williams and former football player and actor Vinnie Jones. Similar advertising campaigns are also carried out in Germany and Poland with various famous names.
In addition to the aforementioned advertising campaigns, Match Masters’s popularity is due to its competitive look compared to traditional Match-3 games. In the game, where real players fight against each other, events and tournaments are constantly held.
Gal Goldstein, CEO of Candivore, said in a statement:
“The mobile gaming space has been booming for years and our journey has been wilder than anything we could have imagined. As we continue to work passionately to add more features for our players, our continued partnership with Vgames will help our efforts to make Match Masters even more rewarding for our global community of users.”
Another feature of Match Masters is that it generates more revenue than other games with much more players than it does. According to a study by Sensor Tower, the game earned $ 7 million in revenue in March 2022. That’s more than the revenue of many games with similar user counts.
Eitan Reisel, Founder of Vgames, said:
“We are very excited about Candivore’s prospects. The mobile gaming market is witnessing tantalizing growth, and Candivore’s Match Masters has already positioned itself as one of the leading mobile games. With the long-standing support of Vgames, I am confident that this mobile gaming experience will gain more momentum, creating ample opportunities for stakeholders and gamers alike.”
In addition to all the above advertising campaigns, Candivore will also host a “festival” in London from 11-12 June. The festival will feature live DJ performances, interactive games, competitions, and meet-ups with celebrities.
