The global online gaming market is booming, with analysts predicting the industry’s valuation planning to grow from $250 billion (2022) and to over $333 billion by 2030.
One corner of it is growing especially fast: social casino games, which alone is an almost $10 billion industry.
Riding that wave is MyPrize, a Miami-based startup that has gone from zero to $1.2 billion in GMV run rate in just over a year.
This week, the company announced it had raised a $21 million strategic funding round at a $250 million valuation cap, with participation from existing backers Dragonfly and Boxcars Ventures, as well as major family offices. The company has now raised $38 million in total, including $13 million in pre-launch funding last year.
MyPrize blends livestreaming with multiplayer casino-style games and social features, offering what founder and CEO Zach Bruch [pictured above] calls a “creator-driven approach to online gaming.” Since its launch in mid-2024, it has grown into one of the fastest-scaling technology companies in the country. According to the company, MyPrize is on track to top $100 million in annual revenue while hitting profitability by the end of the year.
“MyPrize has transformed online entertainment for both players and creators, and the momentum we’re seeing is just the beginning,” Bruch shared in a statement.
The platform’s rapid growth hinges on a few core elements: real-time interaction with streamers, sweepstakes-based rewards, and AI personalization that keeps players engaged. To date, users have collectively won over $500 million through MyPrize’s games, according to the company.
“The growth we are seeing at MyPrize proves that social gaming has fully arrived to the US market and there is massive demand for a more engaging, creator-driven approach to online gaming,” Bruch said.
He added that the nature of online entertainment itself is shifting: “The nature of entertainment has fundamentally changed with speculation taking center stage. As users embrace this new frontier, MyPrize is ushering in the golden age of online entertainment.”
The new funding will help MyPrize expand globally, onboard new creators and celebrities, and continue investing in its proprietary tech stack, especially its AI-powered retention tools. Bruch said the capital will unlock “the next phase of our exponential growth curve.”
Beyond growing fast, MyPrize also has profitability in sight. That combination is rare in consumer tech, let alone in gaming, where many companies burn through funding for years before turning a profit.
For now, Bruch and his team are focused on scaling the platform into what they call “the first entertainment-native gaming platform,” a space where creators and communities – not just gameplay – are the core product.
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