Entertainment publishers Endemol have announced a stage investment in London social gaming start-up Plumbee. Endemol have invested a sum of $13m in the latest round ofstage funding for the social casino gaming digital start-up. Existing venture capitalist investors – Paris based Idinvest Partners have also participated in this round, Plumbee is now valued at $40m.
The investment set by Endemol, will see the entertainment publisher create social gambling content through its partnership with Plumbee. Endemol have released igaming casino titles such as Big Brother, Deal or No Deal and UFC slots. This move will see Endemols initial steps into the social gaming market.
Lucas Church, Chair of Endemol’s Group Commercial Board, commented on the investment in Plumbee: “Social casino gaming is a fast emerging market and Plumbee is one of the most innovative and dynamic operators in this space. This new partnership will allow us to accelerate the growth of Endemol’s digital gaming business around the world, whilst capturing more of the value created by our entertainment brands.”
Raf Keustermans, Chief Executive Officer of Plumbee commented: “Joining forces with a world leading content creator like Endemol ideally positions us to develop a new generation of premium social games. Endemol will become a strategic shareholder and this will enable us to leverage the company’s international network and globally recognised brands. This will significantly boost the growth of our worldwide user base as we create gaming experiences that stand out from the competition.”