Neon Secures $13 Million in Series A Funding Led by Krafton
Neon, a direct-to-consumer commerce platform specializing in mobile game development, has successfully raised $13 million in a Series A funding round. The round was led by Krafton, although specific details about other investors were not disclosed.
Revolutionizing Mobile Game Commerce
Founded by Chris Faught and Brian Regan, Neon offers mobile game developers the tools to establish their own storefronts, manage global payments, and transition up to 60% of revenue from traditional app stores to direct-to-consumer channels. This platform aims to help developers bypass the hefty commissions charged by major app stores like Apple and Google, enabling them to build scalable direct-to-consumer businesses.
Chris Faught, Neon's CEO, explained the company's vision: "What we’ve been building, and what our vision is set on now, is being the infrastructure on which these publishers build more scalable direct consumer channels, and also a commerce ecosystem around their business in general."
Lead Investor: Krafton
Krafton, known for its involvement in the gaming industry, took the lead in this funding round. Their investment reflects a growing interest in supporting platforms that empower game developers to enhance their revenue models and engage directly with consumers.
Use of Funds
While specific plans for the use of the new capital weren't detailed, the funding is expected to bolster Neon's efforts in expanding its platform capabilities and enhancing its infrastructure for game developers. This could potentially include product development and scaling their services to support a larger user base.
Conclusion
As the gaming industry continues to evolve, platforms like Neon are becoming increasingly vital for developers looking to optimize their revenue streams and reduce dependency on traditional app stores. With this fresh injection of capital, Neon is poised to further develop its infrastructure and provide even greater value to the mobile gaming community.