# Chobolabs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/chobolabs

- Industry: Software
- Headquarters: Palo Alto, US
- Website: www.chobolabs.com
- Total disclosed funding: $8.6M
- Latest round: Series A (Feb 3, 2015)
- Investors on record: 2

## About

Chobolabs develops innovative web-based instant play games that engage players without app downloads. Their offerings include a variety of genres, fostering connections among users globally.Chobolabs is focused on creating engaging online gaming experiences. Founded in Palo Alto, US, it raised USD 7.29 mn in Series A funding from Correlation Ventures on February 3, 2015, bringing its total amount raised to USD 7.29 mn with a current valuation of USD 34.25 mn.Chobolabs specializes in the development of web-based instant play games, allowing players to engage without app downloads. Their core offerings include a diverse range of games that cater to various genres, such as trivia, adventure, and social interaction, designed to foster connections among friends and family across multiple devices. For example, the games "Sway Stories" and "Trip Royale" encourage community engagement through storytelling and travel experiences, while games like "Thug Life" and "Heads Up!" focus on competitive play and quick thinking. The primary end users of these products are casual gamers and social groups looking for entertaining ways to connect, with a notable emphasis on accessibility for users around the globe, including North America, Europe, and parts of Asia. Chobolabs' commitment to innovation aims to reshape the gaming landscape by providing seamless multiplayer experiences at any time and from anywhere.Chobolabs' revenue model is structured around direct-to-consumer transactions, primarily facilitated through its instant play games. The company generates income by offering a variety of monetization strategies, including in-game purchases and potentially ad-supported features, which enhance the user experience and engagement. Given their focus on accessible gaming, the pricing strategies include free-to-play options supplemented by premium features or content unlocks within the games. This structure allows Chobolabs to attract a broad audience while capitalizing on the growing demand for engaging, interactive entertainment.In February 2015, Chobolabs Inc raised USD 7.29 mn in Series A funding from Correlation Ventures to support its future growth plans. The company aims to develop new game titles and expand its offerings into international markets, specifically targeting Europe and parts of Asia by 2025. The recent funding will facilitate the creation of innovative gaming experiences and enhance marketing efforts to penetrate these new regions.

## Funding rounds

- Series A, Feb 3, 2015, $7.3M — Correlation Ventures
- Seed, Sep 16, 2014, $1.3M — XG Ventures

## Investors

- XG Ventures (https://capitalatlas.ai/funds/xg-ventures) — Seed
- Correlation Ventures (https://capitalatlas.ai/funds/correlation-ventures) — Series A