The Israeli company recently launched its game collection, OMG! Fortune, on Facebook. LuckyFish is now looking to hire more employees and launch new versions of its social gambling games
Mobile gambling game developer LuckyFish Games on May 19 announced that it raised $1.6 million in Series A funding from Carmel Ventures.
The funding was led by Daniel Cohen, the general partner of Carmel Ventures, which is a member of private equity firm the Viola Group. According to a statement, this is Carmel Venture’s first investment in this industry.
“This funding will allow us to capture the rapidly evolving opportunity in the growing market of social gaming as a whole and social fortune games in particular,” Roi Fishman, founder and CEO of LuckyFish, said in a statement. “We are excited about the coming launch of our Android and iOS game versions and the rapid growth of our community of fans. The partnership with Carmel Ventures is also a validation of our innovative viral offering and our business model.”
Based in Ramat Gan, Israel, LuckyFish recently launched its first collection of social games, OMG! Fortune, on Facebook. The Android version of the game collection is coming in the next few days and the iOS version will come next month.
The games combine fortune with casual gaming mechanics. While its games are based on luck, they do not payout in cash like other gambling games may. The free multi-platform game allows players to purchase virtual items, win prize money and enjoy social features.
Fishman, formerly of gaming company 888, founded the company at the end of 2012 and it now has 21 live games to date. It has about 200,000 daily active players and almost one million monthly active players. Growing rapidly, it has already started recording initial revenues.
With 12 employees in Ramat Gan, and additional staff in Eastern Europe, LuckyFish intends to double its team in the next year and is looking for marketing and data analysis employees.
Carmel Ventures is one of Israel’s top VC firms, investing in early stage companies dealing with software, new enterprise infrastructure, big data, digital media, consumer applications and semiconductors. It’s part of the technology-focused Viola Group, which manages more than $2 billion in investments.