“We plan to invest the funds in three things – in expanding our team to 60 people in the next few months, in developing more games under our title, and on marketing,” said Siddharth Jain.
Though the games are free of cost, the Bengaluru-based company earns revenue through in-app purchases and advertisements and expects to cross $7 million in revenue this financial year. “We are a profitable entity,” added Jain. Mayank Khanduja, principal at SAIF Partners, said, “We have known the PlaySimple team for over a year and are amazed by the growth they have got in a very short period of time.”
Source: Times of India
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