Hybrid gaming startup PortalOne has raised $US15 million ($19,293,000) ahead of the launch of its new app – The Arcade – that combines video games and streamed video content, and the investors sound pretty familiar.
The Arcade allows users to both play games on-demand, and watch live TV game shows in which they can play against special guests. Basically, it’s a game show that you can play from home.
Sure, the concept is interesting, but the really exciting part is all of the companies that have already invested in the idea.
Perhaps most notably, Atari has jumped on board, not only as an investor but also with a seven-year deal that gives PortalOne the exclusive distribution rights for popular Atari arcade games worldwide.
This is significant because The Arcade will launch with a focus on 80s-inspired arcade games, before introducing its own unique games to the platform.
In addition to Atari, other major players in the gaming space have jumped onboard like Twitch co-founder Kevin Lin, Blizzard and Dreamhaven co-founder Mike Morhaime (as well as Dreamhaven’s Amy Morhaime), Riot Games’ Marc Merrill and former head of video at Oculus Eugene Wei.
Obviously, their investment doesn’t necessarily mean you’ll be seeing Blizzard and/or Riot-esque games on the platform any time soon, but if the co-founders of such major gaming companies are getting behind it this early, it’s probably a sign of good things to come.
“The next big social platform will likely be a convergence of media with gaming at its core — a truly new immersive interactive experience — and PortalOne is a major contender for becoming such a platform,” Lin said.
If that wasn’t enough, even Scooter Braun’s venture capital firm TQ Ventures has gotten behind the idea.
“As PortalOne continues to grow, it is seamlessly integrating the gaming and entertainment worlds to create a single interactive experience and endless opportunities for content creation,” Braun said. “Creators and performers alike want new and innovative ways to bring their craft to life, and PortalOne is meeting that demand in a way that no other business has done. I’m excited to work with the entire team to realize their trailblazing vision. I have never seen anything like this before.”
Although the app’s primary focus is on games, co-founder and CEO Bård Anders Kasin is keen to expand into music, sport, education and travel in future, so it’s probably a good thing that Scooter Braun is already involved.
PortalOne began its first beta in June last year and expects to roll out in the US by the end of 2021.
You can watch the trailer for The Arcade below.