Swedish GaaS startup secures $2.1M seed round to power up games

Stockholm-based startup LootLocker offers pre-made game features that enable developers to build, ship, and run cross-platform games. The startup now received $2.1M investment in a seed round to bring more people to the team to build many new features and tools for the game developers’ sake. New York-based IA Ventures took the lead in the round in which Acequia Capital, James Gwertzman (Playfab, Microsoft), Benjamin Boxer (Parsec, Unity) and Charles Songhurst (Microsoft) joined.

LootLocker completes $2.1M seed financing ahead of its official launch

LootLocker, the game backend-as-a-service company announced today the closing of its $2.1MM seed financing round. Participating in the round are IA Ventures, Acequia Capital, and notable gaming veteran angel investors like James Gwertzman (Playfab, Microsoft), Benjamin Boxer (Parsec, Unity) and Charles Songhurst (Microsoft).

Founded in 2019 by games industry serial-entrepreneurs Alexander Bergendahl and Andreas Stokholm, LootLocker provides game developers of all sizes with the vital cross-platform services that have become table stakes for today’s successful games – such as player accounts and inventories, in-game commerce, and progression systems. LootLocker has been in stealth mode since 2019 but launches officially today. Prior to its public launch, LootLocker has already grown considerably with hundreds of games built and running on its platform of tools.

“We’re thrilled to have an amazing group of experienced investors and entrepreneurs supporting us,” said Alexander Bergendahl, co-founder and CEO of LootLocker.

“The tools we’ve created are being used by game creators of all sizes, from solo developers working on their first game, to big AAA studios building huge games, some which could even become part of the metaverse. We’re excited to use this round of funding to continue growing our services to make sure each team, no matter their size, can efficiently and effectively build successful games.”

Brad Gillespie, General Partner at IA Ventures and now a LootLocker investor added, “Game developers and emerging game studios need a backend, but today they’re forced to choose between the daunting task of rolling (and maintaining!) their own, or outsourcing it to the distribution platforms and having a fragmented walled-garden experience. We’re delighted to support LootLocker in their ambitious quest to provide the simplest cross-platform backend for all game developers.”

“We’ve seen it happen countless times: out of nowhere a game blows up overnight without the necessary systems in place to support and maximize its success. Other than developing everything themselves, much of the available technology today is not flexible or accessible enough for the average developer to take advantage of,” said Andreas Stokholm, co-founder and CTO of LootLocker. 

With these new funds, LootLocker plans to continue growing its team while building out more cross-platform features that empower the most successful games around the world.

Click here to read more funding news.

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