Interactive

Israel – Leap Gaming to use $3.5m financing to fund more Virtual Sports

Leap will use funds to accelerate development of Virtual Sports and Casino titles, ramp up sales and significantly increase engineering staff.

Leap Gaming, a developer of 3D and Virtual gaming technology with a focus on Virtual Sports and Casino games, announced it has completed its financing of $3.5mm USD, from lead investor FastForward Innovations. Leap partners with online and land-based gaming companies to provide advanced gaming products for end-users, globally.

Leap recently announced pivotal partnerships with numerous tier 1 gaming aggregators, bringing its proprietary Virtual Sports and Gaming products to their respective networks.

Leap intends to use the funds to significantly enhance its product portfolio, increasing the number of Virtual Sports titles and adding new features, like in-game betting. Yariv Lissauer, CEO of Leap Gaming said “Interest in our Virtual Sports titles has been phenomenal, and we are acting quickly to bring additional titles to our customers and end-users.”

Leap aims to bolster its development capabilities significantly in the current year, with an aim to nearly double its R&D headcount. The company will also add sales & marketing staff, to also accelerate its reach into land-based gaming operators globally.

FastForward CEO, Lorne Abony, said: “I am delighted that we are invested in Leap Gaming, our largest investment to date. We are excited with what we have seen the team accomplish so far. Their technology is transformational and is totally disruptive in gaming, with a massive opportunity to break into land-based markets. We’re excited to be working with the team to help make their vision a reality.”

Leap also plans to further grow its cross-platform integrations, enabling its games to be played across all platforms.

Leap’s product-lines can be accessed digitally as well as physically, Mr. Lissauer commented: “End-users love using Leap’s products on desktop and mobile and we have received tremendous feedback from land-based operators and their customers, who are delighted by the experience we provide. We intend to seize upon that opportunity to bring the Virtual experience to many more land-based operators.”

Mr. Lissauer added: “The investment from FastForward is a meaningful indicator of the positive momentum we have been building, we’re glad to be welcoming FastForward as a shareholder and partner and we look forward to significantly accelerating our growth.”