RALEIGH, N.C., June 19, 2024 /PRNewswire/ -- Megamod, a massive multiplayer gaming platform, has raised $1.9 million at a post-money valuation of $27 million. The funds will be used to support the company's go-to-market strategy, including testing a retention and monetization model.

The round was led by investors and funds with deep backgrounds in business and entrepreneurship including Xsolla's founder Alexander Agapitov and his family fund Hand of Midas, as well as Rubylight Fund and other private investors. 

Megamod is a UGC platform designed for creators with limited development expertise and players seeking massive multiplayer experiences.

Launched in early 2023 to make game design tools easier to use, Megamod has proven its ability to create games 200-300 times more cost-effectively and faster than any traditional development company. The cost of creating a unit of content on the platform is approximately $5. For the last 6 months Megamod has networked over 2,000 creators who have created over 60,000 games.

In a world where games are becoming plentiful, the main challenge for publishers is to keep players engaged by providing them with engaging and accessible content. Megamod is demonstrating its ability to meet this challenge, as evidenced by its listing on popular gaming portals like Y8 and CrazyGames. In just two weeks on CrazyGames, Megamod's games have been rated 8.8 based on over 21,000 reviews and have been enjoyed by over 340,000 players.

The availability of the games is also ensured by our Megamod app (MegaBit) which focuses on retention and social interaction. Megamod's multiplayer capabilities allow thousands of players to interact spend time together. The platform provides robust web and mobile crossplay, which has already resonated with hundreds of streamers who have been raffling off prizes and playing game shorts, (games excerpts with a 30-second time limit), alongside their audiences.

Megamod is the only UGC platform with game creators at its heart. Frequently in the game industry, the role of the creator is forgotten. Games are often seen as a product of a company rather than a reflection of the creator's vision. Megamod aims to change this by showcasing the creators of each single game and demonstrating that, in the age of AI and simplified tools, releasing the final product is a matter of hours, not months or years.

CONTACT: Georgy Pulyaevsky, pr@megamod.io

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SOURCE Megamod