Low6 completes $5m funding round ahead of IPO
UK-based sports gamification firm Low6 has announced its intention to publicly list in the US via an initial public offering (IPO), whilst completing a $5 million funding round.
The free-to-play game developer, headquartered in Birmingham, detailed that the most recent round of funding would be used to support its continued growth, with a particular focus on the US market.
In addition, the company plans to conduct its IPO later this year, something which has been a long term ambition for Low6. Almost a year ago, the firm was able to secure further financial backing from Pires Investment, whilst in 2020 it closed a pre-IPO funding round to raise £3.3 million in convertible notes.
“2021 was a successful year of growth for Low6, and the conclusion of our latest round of funding will allow us to accelerate our continued development in 2022,” commented Jamie Mitchell, Co-Founder and Group CEO, Low6.
“Throughout 2021, we we continued to build our products and service offering, enabling us to win new partners and significant new contracts. With these new funds secured, and a number of exciting new partners, we believe we are well placed to enjoy a successful 2022.”
Low6’s US activities have seen the company partner with both notable sports teams and betting operators, having most recently developed a free-to-play game for the Detroit Pistons of the National Basketball Association (NBA).
Additional partnership signed in 2021 saw the company become the official free-to–pay partner of the NFL’s Cincinnati Bengals, the PointsBet and the PGA Tour in a double agreement and betting operator BlueBet in the state of Iowa.
On the other side of the Atlantic, the company has entered into agreements with the European Tour and over 23 UK football clubs, whilst international arrangements have been secured with the likes of the PGA Tour and UFC.