Thursday June 20,2013 : SKILLZ RAISES $5.5 MILLION IN NEW CAPITAL
Skill gaming provider boasts a million downloads since last April
Skillz, an online skill games provider that allows punters to compete for cash, has raised $5.5 million in new capital in a round of financing led by Atlas Venture. Earlier this year the company raised almost $1.3 million.
The publication BizJournal reports that the company was founded last April following more than a year of development work, and since then can boast over a million downloads.
The San Francisco-based company has a workforce of just 21 people, including founder and CEO Andrew Paradise, a serial young entrepreneur who previously founded and led AisleBuyer LLC., a self-checkout and in-store mobile payment technology company acquired last year by Intuit.
Betting in skill based games is legal in 37 US states containing 75 percent of the U.S. population, according to Skillz.