# Gumbug

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

- Industry: Software
- Headquarters: London, UK
- Website: www.gumbug.com
- Total disclosed funding: $2.7M
- Latest round: Seed (Oct 13, 2016)
- Investors on record: 3

## About

Gumbug Ltd. is a company based in London, UK, specializing in the development and operation of innovative online gaming platforms, particularly in the realm of slot games, aimed at enhancing user engagement and entertainment.Founded in 2013, Gumbug Ltd. operates primarily in the online gaming sector, focusing on slot game offerings. The company is headquartered in London, UK. In December 2019, Gumbug Ltd. was acquired by Voodoo SAS, with the financial terms of the acquisition not disclosed. The firm has engaged in 3 major deals since its inception, with its latest funding round being a Seed round, raising a total of USD 2.00 mn, bringing its current company valuation to USD 8.04 mn. The latest investors included Backed VC and Initial Capital.Gumbug Ltd. specializes in online gaming, particularly focusing on slot games developed by leading providers such as Pragmatic Play. The platform features a variety of digital slot games that integrate advanced features like bonus rounds, multipliers, and captivating graphics to enhance user experience. Key titles such as "Gates of Olympus" and "Starlight Princess" have shown promising performance metrics. Their primary clientele comprises avid online gamers seeking entertainment and substantial winnings through strategic gameplay, operating in various markets across Southeast Asia.Gumbug Ltd. generates revenue through a business-to-consumer (B2C) model, where players engage with the platform to access slot games. Revenue primarily comes from in-game transactions, including game credits and bet placements processed on the platform. The pricing structure accommodates a range of players, from casual gamers to high-stakes players. The firm offers promotional bonuses and incentives to attract new users and retain existing ones, enhancing user engagement, although specific revenue figures are not disclosed.Gumbug Ltd. is planning to leverage its recent acquisition by Voodoo SAS to explore new product offerings and enhance its market presence. The company is expected to expand its gaming portfolio with new titles and advanced features aimed at improving player engagement. Additionally, Gumbug Ltd. is targeting further expansion into new geographical markets throughout Southeast Asia, with specific initiatives planned to roll out by the end of 2023. The funds raised in the Seed round will be strategically utilized to support these growth initiatives.

## Funding rounds

- Seed, Oct 13, 2016, $2M — Backed VC, Initial Capital
- Seed, Aug 10, 2015, $0.7M — London Venture Partners, Backed VC, Initial Capital

## Investors

- London Venture Partners (https://capitalatlas.ai/funds/london-venture-partners) — Seed
- Backed VC (https://capitalatlas.ai/funds/backed-vc) — Seed
- Initial Capital — Seed