MyPrize Raises $21 Million at $250 Million Valuation, Sees Revenue of $100 Million

• Social casino operator says it raised $21 million at valuation of $250 million
• Sees 2025 revenue topping $100 million

Social casino operator MyPrize announced Thursday that it raised $21 million at a valuation of $250 million. The internet gaming company added that it expects 2025 revenue will exceed $100 million.

Boxcar Ventures and Dragonfly were among the investors that participated in the latest funding round — the company’s first since March 2024. Founded in 2023 by Zach Bruch, Miami-based MyPrize also forecast a 2025 gross merchandise value (GMV) run rate of $2 billion. Some of the newly raised capital will be used to advance the firm’s artificial intelligence (AI) efforts.

The strategic funding will be used to accelerate MyPrize’s growth and scale its vertically integrated technology platform to drive better experiences for players and creators alike, powered by MyPrize’s proprietary AI personalization engine,” according to a statement.

Privately held MyPrize is a web3 gaming platform that encourages an element of collaboration and social gaming that’s often not found on traditional wagering sites.

MyPrize In its Growth Era

MyPrize’s latest funding round confirms its impressive growth trajectory. In March 2024, the company raised $13 million across two funding rounds, implying a valuation of $140 million, but that figure has almost doubled following the latest capital infusion.

“The company continues to grow at an exponential pace month over month. MyPrize’s position as one of the fastest growing technology companies of all time is being driven by a differentiated model that blends creator-led livestreaming-based entertainment with online games that offer sweepstakes-based prizes on MyPrize.us,” it added in the statement.

In the US, where it’s not available in all 50 states, MyPrize runs a social casino with free-to-play games. Outside this country, the company operates a cryptocurrency casino with real money games.

More Positive Signs for MyPrize

Another encouraging sign in MyPrize’s latest capital raise is that Boxcar Ventures and Dragonfly participated in the operator’s first funding rounds. Their return for another funding could signal confidence in MyPrize’s growth and management team.

As younger bettors increasingly embrace fresh approaches to wagering and the intersection of betting and cryptocurrency, MyPrize could find itself at the right place at the right time.

“As demand for real-time, socially-driven gaming continues to rise, the new capital will enable MyPrize to expand its reach, onboard more creators, and enhance the core product experience for players,” the company added in the statement. “MyPrize is building the first entertainment-native gaming platform, one where creators and communities drive engagement, loyalty, and long-term value.”