Mobile Premier League (MPL) has managed to raise $90 million in a new financing round as it continues its overseas expansion.
SIG, early-stage tech investor RTP Global, and MDI Ventures led MPL’s $90 million Series C financing round, with participation from existing investors Sequoia India, Go-Ventures, and Base Partners. Some of the early investors in MPL are Times Internet and actor Salman Khan are also early investors in MPL.
As per TechCrunch, the new investment brings MPL’s to-date raise to $130.5 million. It was valued between $375 million to $400 million pre-money, according to a person familiar with the matter.
“We’re competing with battle-hardened, decade old companies with much, much deeper pockets but it’s incredible what the young team has achieved over the past couple of years. When we were on the Play Store, a couple of years back, MPL was the fastest app to reach a 1M DAU ever in India!” tweeted Abhishek Madhavan, SVP of Marketing at MPL. “We signed Virat Kohli (pictured above), when we were a 3-month old company! When we got out of the Play Store, we were told growth will be very very hard to come by, every single marketing metric would fall.”
