Israeli gaming startup, Candivore, the developer of one of the most popular mobile games, Match Masters, has closed a $10 million fundraising round with Vgames, an Israeli venture capital firm specializing in video games, and Tiger Global Management. This increases Candivore’s total fundraising to date to $22 million, of which $12 million was raised in 2021.
Match Masters has amassed a massive user base, with more than 30 million downloads and more than 5 million monthly active users playing more than 10 million matches every day.
This investment aligns with Candivore’s forthcoming advertising campaign in the United Kingdom which is designed to promote and attract new players to its Match Masters mobile game. The campaign will begin on Friday and include iconic singer Robbie Williams and actor and footballer Vinnie Jones.
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Match Masters converts the popular Match-3 genre into the first-ever PvP competition of its sort. In Match Masters, players compete live against opponents in a turn-based environment that features a variety of game styles, tournaments, and events that allow players to win rewards.
Candivore’s CEO, Gal Goldstein, remarked, “The mobile gaming industry has been flourishing for years, and our path has been crazier than anything we could have expected. As we continue to introduce additional features for our players, our continuous relationship with Vgames will aid our efforts to make Match Masters even more beneficial for our worldwide user community.”
According to Sensor Tower, application intelligence data, Match Masters earned $7 million in March 2022. During the same time period, 8 Ball Pool, a smartphone game with tens of millions of monthly active users, generated $10 million in total revenue.
Eitan Reisel, Vgames founder, stated, “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.”