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Top Gaming Startups to Watch (and Work for) in 2023

July 21, 2023
      |      Kieran Ryan
Faraway gaming characters

My Background

Hi, I'm Kieran! I worked in startups for five years at On Deck and Wefunder. Some of my favorite things that I've worked on during my career include:

  • Wefunder Workaway: 12 founders working on a new idea, 7 days, 1 mansion in Hawaii. One of the teams we picked raised a Series A from Andreessen Horowitz, and two people who met during the trip got married...
  • On Deck: As employee #15, I contributed to the startup's growth from no revenue to a $20 million run rate in less than a year. I led the team that built the admission infrastructure to support and scale ~20 fellowships for founders, capital allocators, operators, and creators.
  • XX: Worked on a pre-YC accelerator program that invested $125K on an MFN SAFE into 8-10 teams per cohort.
  • ODX: Worked on a $100 million accelerator program that invested $125K for 7% into 100s of startups. We partnered with leaders like Flexport to build vertical industry tracks around supply chain & logistics, etc.
  • Ryan Marketing: Created an influencer marketing startup (2 million+ Instagram followers) during college with my twin brother and realized early that monetization for creators was broken. I learned a lot, and it paid enough to cover my schooling, rent, and meals.

The Methodology

I considered several data points to arrive at the startups selected on this list, including company traction, funding raised, valuation, and investors. From my initial list, I then referenced each startup with my personal network to narrow down the list to the one you see below. I take my credibility seriously, so I do not take any money from startups who want to be included on this list to remain impartial. If you want to understand my analysis of startups and prefer long-form content, read my research on the top startups of 2023 afterward.

100 Thieves Logo

100 Thieves

An American lifestyle brand and gaming company.

Headquarters

Culver City, California

Industry

Gaming, Creators

Founded

2017

Funding

$120 million

Valuation

$460 million

Traction

  • In 2021, 100 Thieves won Esports Organization of the Year at the Esports Awards.
  • In 2021, 100 Thieves’ revenue doubled YoY and achieved 111% top-line growth.
Wildlife Studios Logo

Wildlife Studios

Mobile gaming company.

Headquarters

São Paulo, São Paulo, Brazil

Industry

Gaming

Founded

2011

Funding

$260 million

Valuation

$3 billion

Traction

  • As of July 2023, Tennis Clash, a game created by Wildlife Studios, has rated 4.6/5 stars from 412K reviews on the Apple App Store, 4.4/5 stars from 1.63 million reviews on the Google Play Store, and has been downloaded 100 million+ times on the Google Play Store.
  • As of July 2023, Zooba, a game created by Wildlife Studios, has rated 4.7/5 stars from 373.5K reviews on the Apple App Store, 4.3/5 stars from 1.31 million reviews on the Google Play Store, and has been downloaded 50 million+ times on the Google Play Store.
  • As of July 2023, Sniper 3D, a game created by Wildlife Studios, has rated 4.8/5 stars from 2.9 million reviews on the Apple App Store, 4.5/5 stars from 16.1 million reviews on the Google Play Store, and has been downloaded 500 million+ times on the Google Play Store.
  • As of August 2020, Wildlife Studios’ games has launched 60 games, resulting in 2 billion downloads.
  • As of August 2020, Wildlife Studios has 100 million monthly active users across its games, reported 70% YoY growth, and was profitable.
Rec Room Logo

Rec Room

Rec Room is the best place to build and play games together.

Headquarters

Seattle, Washington

Industry

Consumer, Gaming, Virtual Reality

Founded

2016

Funding

$294 million

Valuation

$3.5 billion

Traction

  • As of May 2023, Rec Room has more than 82 million lifetime users, up from 37 million as of 2021.
  • As of May 2023, Rec Room’s Discord community has 127,823 members.
  • In 2022, Rec Room had 60 million players.
  • In Q1 2022, players visited 1.1 billion rec rooms.
  • As of December 2021, Rec Room’s monthly user count jumped ~450% since November 2020.
Forte Logo

Forte

Launch your NFT or game token economy today.

Headquarters

San Francisco, California

Industry

Gaming, Cryptocurrency

Founded

2019

Funding

$910 million

Valuation

Undisclosed

Traction

  • As of November 2021, Forte supports 15 million players across partner games and 40 game developer partners.
Elodie Games' Logo

Elodie Games

A game studio dedicated to building better crossplay games.

Headquarters

Venice, California

Industry

Gaming

Founded

2019

Funding

$37.5 million

Valuation

Undisclosed

Traction

  • As of June 2023, Elodie Games is working on its first game, a free-to-play co-op action RPG called Project Skies.
Azarus Logo

Azarus

Game challenge network.

Headquarters

San Francisco, California

Industry

Gaming

Founded

2018

Funding

$5.8 million

Valuation

Undisclosed

Traction

  • As of February 2022, Azarus has 25,000+ rewards that players can earn in the Azarus Store.
E-Pal Logo

E-Pal

Teammates on demand.

Headquarters

Irvine, California

Industry

Gaming

Founded

2020

Funding

Undisclosed

Valuation

Undisclosed

Traction

  • As of June 2023, E-Pal has 500,000+ downloads on the Google Play store and is rated 4.4/5 stars from 4.87K reviews.
  • As of June 2023, E-Pal’s Discord community has 21,109 members.
  • As of April 2022, E-Pal reported 100,000+ users.
Mainframe Industries Logo

Mainframe Industries

An independent game developer.

Headquarters

Helsinki, Southern Finland

Industry

Gaming

Founded

2019

Funding

26.9 million euros

Valuation

Undisclosed

Traction

  • As of June 2023, Mainframe Industries is preparing to launch its first game, Pax Dei, this year.
Sandbox VR Logo

Sandbox VR

Immersive virtual reality experiences.

Headquarters

San Francisco, California

Industry

Virtual Reality (VR), Gaming

Founded

2016

Funding

$119 million

Valuation

Undisclosed

Traction

  • As of August 2023, Sandbox VR generated $23 million in the past 12-month period from its Deadwood Valley game at 30 locations.
  • As of June 2023, Sandbox VR has 42 retail locations, with seven more locations planned.
Boom.tv Logo

Boom.tv

E-sports entertainment platform.

Headquarters

San Mateo, California

Industry

Gaming, Consumer

Founded

2015

Funding

$24.8 million

Valuation

Undisclosed

Traction

  • In 2022, Boom.tv produced 500 Twitch and Youtube broadcasts and reached 50+ million fans.
  • In 2022, Boom.tv’s Code Red series drew a peak viewership of 5 million+ with 15 million+ impressions.
  • As of May 2023, Boom.tv has hosted 50,000+ events and tournaments and given out $50 million+ in prize money.
"Faraway" in white on black background

Faraway Games

A game studio that builds and publishes open economy games such as Mini Royale: Nations.

Headquarters

Miami, Florida

Industry

Gaming

Founded

2021

Funding

$30 million

Valuation

Undisclosed

Traction

  • As of May 2023, Faraway Games has launched Mini Royale games: Nations and Faraway Land.
  • As of May 2023, the Faraway Games Discord channel has 54,892 members.
  • As of March 2023, Mini Royale: Nations has ~400,000 monthly active users.
  • As of November 2021, Mini Royale: Nations has ~300,000 monthly active users and ~25,000 daily active users. 
Pocket Worlds Logo

Pocket Worlds

The future of social interaction, experience, and connection.

Headquarters

Austin, Texas

Industry

Gaming

Founded

2013

Funding

$7 million

Valuation

Undisclosed

Traction

  • As of July 2023, Pocket Worlds has 10 million+ users (up from 7 million in January 2021), 35,000+ unique items, and 15 million+ user-generated rooms.
  • As of July 2023, Pocket Worlds’ metaverse life world, Highrise, has rated 4.6/5 stars from 118.9K reviews on the Apple App Store and 4.3/5 stars from 200K reviews on the Google Play Store.
  • As of January 2021, Pocket Worlds reported 30% of active users were trading ideas, resulting in 50,000+ transactions daily.
  • In 2020, Pocket Worlds reported 6x revenue growth over 2019.
Versed Logo

Versed

Helping storytellers create games using generative AI.

Headquarters

Remote

Industry

Gaming, Artificial Intelligence (AI)

Founded

2020

Funding

$1.7 million

Valuation

Undisclosed

Traction

  • As of June 2023, Versed works with 10 creators in its alpha program.
Hyper Online Logo

Hyper Online

Avatar platform and social network for Virtual Youtubers, AI, and Social.

Headquarters

San Francisco, California

Industry

Gaming

Founded

2021

Funding

$3.6 million

Valuation

Undisclosed

Traction

  • As of July 2023, Hyper Online has rated 4.6/5 stars from 8.6K reviews on the Apple App Store.
Rooms.xyz Careers

Rooms.xyz

Create & remix interactive rooms from your browser.

Headquarters

Allentown, Pennsylvania

Industry

Gaming

Founded

2020

Funding

$10 million

Valuation

Undisclosed

Traction

  • As of July 2023, Rooms.xyz has 100+ rooms on its platform.
  • As of July 2023, Rooms.xyz has 379 members in its Discord community.
Triumph Logo

Triumph

Add cash tournaments to your game.

Headquarters

San Francisco, California

Industry

Gaming

Founded

2020

Funding

$14 million

Valuation

Undisclosed

Traction

  • As of May 2023, Triumph is operational in 37 states and Washington DC.
Believer Entertainment Logo

Believer Entertainment

A global games company.

Headquarters

West Hollywood, California

Industry

Gaming

Founded

2022

Funding

$55 million

Valuation

Undisclosed

Traction

  • As of July 2023, Believer Entertainment is working on an open-world game with original IP.
Champions Round Logo

Champions Round

Fantasy sports with friends.

Headquarters

Los Angeles, California

Industry

Gaming

Founded

2018

Funding

$10 million

Valuation

Undisclosed

Traction

  • As of July 2023, Champions Round has rated 4.6/5 stars from 229 reviews on the Apple App Store, 4.6/5 stars from 71 reviews on the Google Play Store, and has been downloaded 10,000+ times.
  • In 2022, Champions Round reported 28% MoM growth.
Scenario Logo

Scenario

AI-generated game assets.

Headquarters

San Francisco, California

Industry

Gaming, Artificial Intelligence (AI)

Founded

2021

Funding

$6 million

Valuation

Undisclosed

Traction

  • As of July 2023, Scenario has rated 4.3/5 stars from 16 reviews on the Apple App Store and has been downloaded 5,000+ times on the Google Play Store.
  • As of January 2023, Scenario has signed up 5,000 people and 20,000 more on its waitlist.
Carry1st Logo

Carry1st

Games and mobile apps for Africa.

Headquarters

Cape Town, Western Cape, Africa

Industry

Gaming

Founded

2018

Funding

$57 million

Valuation

Undisclosed

Traction

  • As of July 2023, Carry1st’s game, Mine Rescue!, has rated 4.4/5 stars from 266K reviews and has been downloaded 10 million+ times on the Google Play Store.
  • As of July 2023, Carry1st’s games, Mancala Adventures, and Ludo Blitz: Dice Board Games, have been downloaded 100,000+ times on the Google Play Store.
Carv Logo

Carv

All your gaming credentials in one place.

Headquarters

Los Angeles, California

Industry

Gaming

Founded

2021

Funding

$4 million

Valuation

$40 million

Traction

  • As of July 2023, Carv has 109,877 members in its Discord community.
  • As of November 2022, Carv has partnered with 90+ games and counts 300,000+ registered users.
  • As of November 2022, Carv reported 160,000+ monthly active users.
Yahaha Logo

Yahaha

Low code platform for metaverse games.

Headquarters

Helsinki, Finland

Industry

Gaming

Founded

2020

Funding

$121 million

Valuation

Undisclosed

Traction

  • As of November 2022, Yahaha has 100,000+ developers and 200,000+ registered users on its platform.
ForeVR Logo

ForeVR

Virtual reality games you want to play forever.

Headquarters

Los Angeles, California

Industry

Gaming, Virtual Reality (VR)

Founded

2020

Funding

$18.5 million

Valuation

Undisclosed

Traction

  • As of July 2023, ForeVR has released four games: Bowl, Darts, Cornhole, and Pool.
Homa Games Logo

Homa Games

Mobile games company.

Headquarters

Paris, France

Industry

Gaming

Founded

2018

Funding

$164.8 million

Valuation

Undisclosed

Traction

  • As of July 2023, Homa Games’ data-driven creations have helped 1,000+ studios and developers.
  • As of July 2023, Homa Games has 29,719 members in its players and fans’ Discord community.
  • As of October 2022, Homa Games has released 80 games and totaled 1 billion downloads.
Immortal Game Logo

Immortal Game

Web3 chess.

Headquarters

Paris, France

Industry

Gaming, Crypto

Founded

2021

Funding

$15.5 million

Valuation

Undisclosed

Traction

  • As of July 2023, Immortal Game has 17,532 members in its Discord community.
  • As of September 2022, Immortal Game reported 50,000 registered users and 5,000 weekly active users.
Metafy Logo

Metafy

A members club for gaming.

Headquarters

Los Angeles, California

Industry

Gaming

Founded

2020

Funding

$33.7 million

Valuation

$105 million

Traction

  • In 2021, Metafy reported coaches on its platform grossed over $1 million.
HotStreak Logo

HotStreak

Next-generation daily fantasy sports.

Headquarters

Santa Monica, California

Industry

Gaming, Sports, Gambling

Founded

2018

Funding

$10.5 million

Valuation

Undisclosed

Traction

  • As of July 2023, HotStreak has rated 4.6/5 stars from 1.7K reviews on the Apple App Store, 4.3/5 stars from 76 reviews, and has been downloaded 1,000+ times on the Google Play Store.
  • As of September 2022, HotStreak reported $3-$5 million worth of transactions every month during the summer and that it was profitable.
Metaverse Magna Logo

Metaverse Magna

Mobile e-sports for casual gamers.

Headquarters

Lagos, Lagos, Nigeria

Industry

Gaming

Founded

2021

Funding

$3.2 million

Valuation

$30 million

Traction

  • As of July 2023, Metaverse Magna has 16,868 members in its Discord community.

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