Players Lounge receives $10.5 million in investment and plans a future expansion
Summary
Players Lounge, a prize-based gaming platform, announced it has closed its Series A round of funding, which was raised $10.5 million. It intends to use the funding for its next round of expansion outside the realm of sports games.Griffin Gaming Partners led the round, with Comcast Ventures, Samsung Next, Vice Ventures, WndrCo, Sharp Alpha Partners, True Capital, Myles Garrett, Josh Norman, and Breanna Stewart participating. Now, Players Lounge is a sports game store, which now has the potential to expand beyond the sports world, allowing people to participate in Call of Duty, Fortnite, and other activities.Players Lounge established its name as a gaming platform tailored to consoles and PC games. In an interview, Austin Woolridge, one of the founders of the platform, said that the platforms objective is to give gamers the ability to earn and gain money while playing their favorite Triple-A video games.Players Lounge will offer players their own challenges to match their skill level in Q3 2022, without having to play with other gamers in a head-to-head capacity. Woolridge also said that the company intends to launch a mobile app in Q3 2022.