Oslo-founded hybrid games platform, PortalOne has achieved a new high score via a $60 million oversubscribed Series A funding round. The next level funding will allow PortalOne to rapidly expand its content production, as well as further develop talks with brands and IP for usage within this pioneering gaming format. Following a $15 million seed round last April, PortalOne has raised a total of $75.5 million.
Founded in 2018, the PortalOne platform mixes gaming with live shows that are embedded directly inside the game itself. In so much, the company is aiming to create an entirely new category of entertainment.
PortalOne opened its beta in June 2020 with PortalOne Arcade, a retro-themed universe that puts show’s guests inside classic game titles as well as in-house produced original content. Not just aiming to become a sole publisher, PortalOne is also ramping up capabilities to allow third-party creators access.
Building on the lure of the Ready Player One zeitgeist, PortalOne has partnered with retro gaming legend Atari, and has secured exclusive global distribution rights for the next seven years, and thus, the inclusion of classic gaming titles, now ‘super sized’.
“Gaming, social, and media are converging, and we are fortunate to be at the very edge of that frontier. Our company now enters an exciting new phase of scaling up on all fronts as we prepare to introduce hybrid games to the world,” commented PortalOne CEO and co-founder Bård Anders Kasin. “Having great partners paved the way for us to make rapid progress in developing hybrid games. Now we look forward to welcoming new partners who recognise the opportunity PortalOne offers for iconic and popular IP brands to bridge into a whole new era of entertainment.”
PortalOne’s $60 million Series A round was led by Tiger Global and included other leading investors TQ Ventures,Temasek, Avenir Growth, Founders Fund,Talis Capital, Connect Ventures, Animoca Brands, Access industries, and Coatue Management. The round also saw number of high-profile angel investors jump aboard including Matt Cohler, Rishi Garg, and Aleksander Larsern.
“PortalOne is building a platform that converges the most popular forms of entertainment into one seamless experience that will appeal to every category of performer. This is the next place to be in the world of immersive gaming, with unlimited content possibilities,” commented TQ Ventures co-founder and Ariana Grande, Justin Bieber, J Balvin, Demi Lovato manager Scooter Braun.