Cross-Platform Mod and UGС Service Platform mod.io Raises $4 Mn In Funding

The investment round was led by Sequoia Capital India’s Surge and Makers Fund in participation from Play Ventures, GameTech Ventures and Machinefloor

By Debarghya Sil | Dec 05, 2020
mod.io

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

Cross-platform user-generated content (UGC) and modding service platform mod.io has announced that it has raised $4 million funding led by Sequoia Capital India’s Surge and Makers Fund.

The venture capital firm Sequoia Capital has recently announced the names of 17 startups including mod.io that will receive early-stage funding under its fourth cohort Sequoia Surge programme, Surge 4. The programme included startups across a wide range of sectors including edtech, fintech, SME tech, dev tools, consumer, healthtech and B2B marketplaces.

The funding round also witnessed participation from Play Ventures, GameTech Ventures and Machinefloor.

The fresh funds will allow the startup to continue to simplify mod support for game developers. The firm also has plans to provide advanced functionality in metrics, moderation, persistence, branded integration, and creator economies, where available alternatives do not exist

Founded in 2019 by Scott Reismanis and Patrick Sotiriou, the startup provides a service that helps game developers launch in-game, platform-agnostic UGC communities.

More than 50 games use mod.io across 11 storefronts, including various platforms such as PC, Xbox, iOS and Android. The startup currently has more than 65 million downloads and plan to launch their mod support on consoles in the coming months.

Reismanis, who is the co-founder ofmod.io, said UGC has the potential to become the next big thing in the gaming industry and claimed that they are pushing the boundaries with UGC. Reismanis who has earlier launched ModDB.com said, “We foresee that mods will be a staple on every platform and elevated to the position of a key game feature. It’s still early days for UGC, so it’s a matter of giving creators the tools they need to innovate and succeed.”

Cross-platform user-generated content (UGC) and modding service platform mod.io has announced that it has raised $4 million funding led by Sequoia Capital India’s Surge and Makers Fund.

The venture capital firm Sequoia Capital has recently announced the names of 17 startups including mod.io that will receive early-stage funding under its fourth cohort Sequoia Surge programme, Surge 4. The programme included startups across a wide range of sectors including edtech, fintech, SME tech, dev tools, consumer, healthtech and B2B marketplaces.

The funding round also witnessed participation from Play Ventures, GameTech Ventures and Machinefloor.

Debarghya Sil

Former Correspondent
Entrepreneur Staff

Related Content

Business News

DBS Appoints Chief Credit Officer for North Asia

DBS has appointed Xu Qing as Managing Director and Senior Risk Executive for Hong Kong, and Chief Credit Officer for North Asia, according to a statement. The appointment is effective 1 February. In his new role, Xu will oversee credit and risk functions across Hong Kong, mainland China, and Taiwan, and will join the Hong […]
Business News

Hong Kong and Switzerland Hold Financial Dialogue in Bern

Hong Kong and Switzerland held the Eighth Hong Kong–Switzerland Financial Dialogue in Bern on 29 January, aimed at strengthening cooperation in financial services between the two markets. The dialogue was co-organised by the Hong Kong Monetary Authority (HKMA) and the State Secretariat for International Finance (SIF) under Switzerland’s Federal Department of Finance. It was chaired […]
Business News

Malaysia Airlines Takes Flight With Mumbai Indians as Global Airline Partner

Malaysia Airlines today announced a landmark partnership with the Mumbai Indians, India’s most successful and widely followed cricket franchise, as Associate Sponsor and Official Global Airline Partner. The collaboration marks a significant milestone in Malaysia Airlines’ sports-led brand and commercial growth strategy across priority global markets, while reaffirming India as one of the airline’s most […]
Business News

Citi Promotes Asia Corporate Banker to Global Role

Citi today announced a series of leadership appointments within its corporate banking business, reinforcing its global banking franchise and strengthening senior leadership across regions. Jason Rekate has been appointed Global Chair of Corporate Banking, and John Chirico has been named Global Chair of Investment Banking. Both will report to Viswas Raghavan, Citi’s Head of Banking […]
Business News

Advantest Selects Anaqua for Global IP Management

Advantest Corporation has selected Anaqua‘s AQX® platform to manage its global intellectual property operations, Anaqua said on Tuesday. The move comes as semiconductor companies adjust to faster development cycles driven by artificial intelligence, electrification, and next-generation devices. Advantest is seeking to standardize internal processes, streamline IP workflows across its global offices, and reduce operational complexity […]