Fantasy sports platform Mobile Premier League (MPL) has achieved unicorn status after reaching a valuation of $2.3 billion in a Series E funding round. The funding round was led by Dubai-based Legatum Capital along with participation from Accrete Capital, Gaingels, Moore Strategic Ventures LLC, and RTP Global.
They will use this capital for global expansion, investing in technology, and drive growth in the Indian market.
Talking about the investment Legatum CEO Mark Stoleson said, “Legatum is delighted to have led this latest round of funding for MPL as it continues its incredible growth trajectory and becomes the world’s leading esports and skill gaming platform.”
“It is an honor to support Sai, Shubh, and the outstanding team at MPL and to join the other world-class investors in building a company that provides a top-class gaming experience for users, unmatched distribution for developers, and a commitment to building a company with the best global talent and a winning culture,” he added.
Following this funding round, Stoleson has become a board member of the company
MPL expanding into global markets
The company was founded in 2018 by Sai Srinivas and Shubh Malhotra. Today, they boast over 85 million registered users globally and have offices in Bengaluru, Pune, Jakarta, Singapore, and New York, employing over 800 people.
“This investment is a recognition of the potential of the Indian gaming and esports industry and an endorsement of the capability of MPL to expand globally. MPL’s proven success in India and Indonesia encouraged us to launch in the US, one of the world’s largest gaming markets. Our US operations are off to a promising start and we’re thus fulfilling our resolve to make our platform the esports and gaming hub of the world” said Sai Srinivas, Co-founder, and CEO of Mobile Premier League.