- Mobile Premier League raises an undisclosed amount in a Series E funding round
- The company reaches a total valuation of $2.3 billion
- CEOs want to use newly acquired capital to expand into western markets
Mobile Premier League, the popular mobile esports matchmaking platform, has recently achieved what in business parlance is called unicorn status after their latest investment, reaching a valuation of $2.3 billion.
Legatum Capital Invests in Mobile Premier League
Mobile Premier League, or MPL for short, is a leading platform that allows gamers to find matches and daily esports tournaments. Mobile gaming is hugely popular in South-East Asian countries such as India, Indonesia, and Taiwan. With titles like PUBG Mobile being extremely popular in said countries, it is to no one’s surprise that MPL has grown significantly in the last few years.
Recently, the company had its Series E funding round and is now being valued at $2.3 billion. The Dubai-based investment company Legatum Capital consigned, according to some sources like Business Standard, over $150 million, although Mobile Premier League has not officially disclosed such information. The company was valued at $945 million in February 2021, after Series D round, and with this investment it has now surpassed $1 billion, making it what is called in business slang “a unicorn”.
New Markets to Expand Into
Co-founder and chief executive of MPL, Sai Srinivas, said that his company has already gained much success in the Asian market, particularly in Indonesia and India. He added that they now would like to expand their operations on western markets and particularly in the US, where according to him the company is off to a promising start.
Srinivas founded MPL along with Shubham Malhotra, who previously worked in Bengaluru-based media streaming technology startup Creo in 2018. Users of the platform can play mobile games for real money. it also allows developers to monetize their games straight from the first day of publishing them. The platform caters to both casual and professional gamers.
Senior vice president of corporate development at MPL, Joe Wadakethalakal, said that the company’s business strategy allows them to pool user liquidity, enable synchronous competitions, aggregate gaming content, and drive superior matchmaking. He stated this is the key to user retention and monetization.
With a portfolio of over 70 games, a user base of over 85 million, and offices around the globe in Jakarta, Singapore, and New York, it is certain that the platform is here to stay. It remains to be seen how exactly MPL will use its newly acquired finances.
