MIAMI, FL - Aug 02, 2025 (UTC) - MyPrize, a trailblazing multiplayer online social casino, has secured $21 million in a strategic funding round, achieving a valuation cap of $250 million. The round, led by existing investors Dragonfly and Boxcars Ventures with additional backing from prominent family offices, brings MyPrize’s total funding to $38 million. This milestone underscores the company’s rapid ascent in the social gaming industry and its potential to reshape online entertainment.
Founded in 2023 by CEO Zach Bruch and launched in mid-2024, MyPrize has emerged as the fastest-growing platform in the free-to-play social casino market. Headquartered in Miami, Florida, the company operates under My Technology, Inc. and specializes in blending multiplayer casino-style games with livestreaming and social features. Its platform allows players to collaborate with creators, streamers, and friends, creating a dynamic, community-driven gaming experience. MyPrize’s proprietary AI personalization engine enhances user engagement by tailoring gameplay and interactions, setting it apart from competitors like Chumba Casino and Stake.us.
Since its launch, MyPrize has achieved a gross merchandise value (GMV) run rate of over $1.2 billion, with players winning more than $500 million in prizes. The company is on track to surpass $100 million in annual revenue and reach profitability by the end of 2025, a rare feat for a startup in its second year.
Funding Details
The $21 million strategic funding round, announced on July 31, 2025, was led by Dragonfly, a crypto-focused venture capital firm, and Boxcars Ventures, with participation from major family offices. This follows a $13 million raise in March 2024 across two rounds, which valued MyPrize at $140 million. The earlier rounds included investors such as a16z Scout, Mechanism Capital, Arrington Capital, Breed VC, JST Capital, 2 Punks Capital, and notable angel investors like Pudgy Penguins CEO Luca Netz and Blockchain.com CEO Peter Smith.
| Funding Round | Amount Raised | Date | Lead Investors | Other Investors | Valuation |
|---|---|---|---|---|---|
| Strategic Round | $21M | July 31, 2025 | Dragonfly, Boxcars Ventures | Major family offices | $250M |
| Seed (Two Rounds) | $13M | March 26, 2024 | Dragonfly, Boxcars Ventures | a16z Scout, Mechanism Capital, others | $140M |
The latest funding round nearly doubles MyPrize’s valuation from its previous raise, reflecting its exponential growth and the surging popularity of social and crypto-based gaming platforms.
Strategic Goals
MyPrize plans to deploy the $21 million to achieve several key objectives:
- Platform Enhancement: The company will scale its vertically integrated technology platform, leveraging its AI personalization engine to deliver tailored experiences for players and creators. This includes improving gameplay features and livestreaming capabilities.
- Creator Onboarding: MyPrize aims to expand its creator community, enabling more streamers and influencers to engage with players, a core component of its community-driven model.
- Global Expansion: While MyPrize currently focuses on free-to-play social games in the U.S. and crypto gaming internationally, the company plans to broaden its market presence, targeting regions with high demand for social gaming.
- Revenue and Profitability: MyPrize is projected to exceed $100 million in annual revenue by the end of 2025, with plans to achieve profitability, positioning it as one of the fastest-scaling technology companies in the U.S.
CEO Zach Bruch emphasized the company’s vision, stating, “What we recognize is, if we can build an online gaming business, it’s not just a gaming business, it’s actually the future of entertainment and the future of social.” This creator-driven approach, combined with MyPrize’s innovative technology, has fueled its rapid growth.
Market Context
The social casino and crypto gaming markets are experiencing significant growth, driven by increasing consumer interest in interactive and community-focused entertainment. Social casinos, which offer free-to-play games with sweepstakes-based prizes, have gained traction in the U.S., where real-money online gambling is restricted in many states. Internationally, crypto gaming platforms are booming, with cryptocurrencies like Bitcoin enhancing user adoption.
MyPrize’s unique blend of multiplayer gaming, livestreaming, and AI-driven personalization positions it to capitalize on these trends. The company’s $1.2 billion GMV run rate and $500 million in player winnings highlight its ability to attract and retain users. The platform’s focus on collaboration—allowing players to join creators in dedicated rooms—sets it apart from traditional online casinos.
The funding round comes amid a broader surge in investments in social and crypto gaming. For comparison, other gaming startups like Animoca Brands have raised significant capital to expand blockchain-based gaming, indicating strong investor interest in the sector. However, MyPrize’s rapid growth and profitability projections distinguish it as a standout player.
Leadership and Vision
Led by Zach Bruch, a serial entrepreneur who previously ran the NFT platform Recur, MyPrize is driven by a vision to transform online gaming into a social, creator-led experience. Bruch’s experience in scaling technology platforms has been instrumental in MyPrize’s early success. The company’s leadership team is focused on leveraging its funding to enhance its platform and build a global community of players and creators.
Industry Impact
MyPrize’s $21 million raise and $250 million valuation signal its potential to disrupt the social gaming industry. By combining the excitement of casino-style games with the interactivity of livestreaming, MyPrize is redefining how users engage with online entertainment. The company’s focus on AI-driven personalization and creator collaboration aligns with broader trends in gaming, where community and interactivity are becoming central to user experiences.
The funding also highlights the growing investor interest in social and crypto gaming, particularly as these sectors offer new revenue opportunities. While no significant controversies surround MyPrize’s funding, the rapid rise of crypto and social casinos may prompt regulatory scrutiny in some markets, particularly regarding sweepstakes-based models in the U.S.
Looking Ahead
With this $21 million investment, MyPrize is well-positioned to accelerate its growth and solidify its leadership in the social gaming market. The company’s plans to enhance its platform, expand its creator network, and enter new markets will likely drive further user adoption. As MyPrize continues to innovate, it is poised to become a defining player in the future of online entertainment.
Source : MyPrize
