Wednesday April 2,2014 : ONLINE GAMBLING SOFTWARE DEVELOPER RAISES $12 MILLION
Private equity firm invests in future online gambling venture.
Southern California-based software developer Gamblit Gaming has raised $12 million in financing that will be used for the launch of its new online gambling software this year.
American Capital Strategies, a Bethesda, Md. publicly traded private equity firm has provided the new capital, having previously put $7 million into Hard 8 Games, the Boston-based parent company of Gamblit.
A spokesman for Gamblit said the company is well advanced in developing software for use by mobile and online game makers in real-time gambling functions.
The startup hasn’t generated any revenue and is still talking with game companies to gauge interest in using its software.
Gamblit, which has forty employees, was founded in 2010 and is headed by Eric Meyerhoffer, who previously worked at FutureLogic.