Monkey Tilt, an innovative online gambling platform launched in March 2024, has secured $30 million in Series A funding. This significant investment marks a milestone in the company's growth trajectory and underscores its potential to redefine the online gaming experience.
Founded by Las Vegas native Sam Kiki, Monkey Tilt positions itself as an entertainment-focused platform that blends traditional casino games with modern technology and social features. With experience from previous operational roles at MGM Resorts and Caesars Interactive, Kiki aims to modernize online gaming by creating a more immersive and socially engaging environment.
Funding Details
The $30 million Series A funding round, concluded over the summer, was led by California-based Pantera Capital. Other notable investors include Polychain Capital, PokerGo, Hack VC, Dream Ventures, Accomplice, Mirana, and individual investor Josh Hannah. This round brings Monkey Tilt's total capital raised to over $50 million, reflecting strong investor confidence in the company's vision.
Ryan Barney of Pantera Capital commented on the investment:
"Monkey Tilt is pushing the online gaming world into a new era that’s ahead of the rest of the market. Sam has proven to be a leader in this space, and we're proud to back a platform that's shaping the future of entertainment."
Business Focus and Offerings
Monkey Tilt offers a diverse range of gaming options, including:
Dealer-led craps and roulette
A 24/7 sportsbook
Traditional casino games
Sports betting
Multi-currency cryptocurrency payment support
Poker (scheduled to launch soon)
A key differentiator for Monkey Tilt is its integration of social features. The platform includes chat functions that allow users to communicate while gambling and even donate portions of their winnings to other players. This focus on social interaction aims to create a community-oriented environment within the online gambling space.
Founder and CEO Sam Kiki stated:
"The reality is this industry has failed to keep up with how people want to game, connect, and interact. Monkey Tilt was designed to completely upend what we think of as the traditional gaming experience."
Growth and Future Plans
Since its launch, Monkey Tilt has experienced significant growth, with monthly betting volumes surpassing $200 million. The company plans to utilize the newly acquired funds to:
Enhance its existing platform
Expand product offerings
Build out its technology team
Allocate resources to paid advertising and marketing
Launch a gamified cryptocurrency trading product in Q1 2025
The upcoming gamified crypto trading product is expected to blend the excitement of gaming with the dynamic world of cryptocurrency trading, providing users with an interactive way to engage with digital assets.
Industry Context
Monkey Tilt's successful funding round is part of a broader trend of venture capital-backed online casinos entering the market. This trend reflects growing interest in the intersection of technology, entertainment, and gambling. Other examples include:
MyPrize: Raised $13 million in March 2024, valuing the company at $140 million. MyPrize offers an online casino platform with integrated live streaming and multiplayer gameplay, allowing users to interact with content creators in dedicated rooms.
Stake.com: Gained popularity through partnerships with influencers and offers a range of crypto-based gambling options.