Krafton Leads USD11 million Investment Round In Tamatem

Tamatem CEO

On Monday, the Jordanian company and leading mobile games publisher in the Arabic speaking market, Tamatem, announced that it raised USD11 million in a Series B funding round led by PUBG’s South Korean video game developer Krafton.

The chairman of the online gaming company, Chang Byung-gyu, made it onto Forbes Korea 2021’s 50 Richest, with a net worth of USD990 million.

This round, in whichVenture Souq, Endeavor Catalyst and existing investors participated, brought Tamatem more than USD17 million since it was established back in 2013.

Tamatem’s Early Days

The Jordanian company came to life when Jordanian entrepreneur Hussam Hammo saw an opportunity to cater to a huge demand for Arabic content in a market that was almost completely untapped. Hammo told Forbes that “People want to be entertained with content they can relate to.”

“There were almost zero mobile gaming companies that published mobile games that fit the language and culture of the Arabic-speaking market and demand was growing day by day.”

– CEO and Founder of Tamatem Games, Hussam Hammo

He explained that with less than one percent Arabic content available, the situation was in the company’s favor.

What Now?

With more than 40 games published and approximately 3.5 million active users on a daily basis, the company has already recorded a total of more than 120 million downloads. Hammo plans on doubling the company’s current 75-employee team by June, saying that the money will be used to develop and introduce a wider selection of Arabic mobile gaming apps.

According to Hammo, work is underway with Krafton to launch PUBG New State in the Middle East and North Africa region. He added that, “Our focus is to add more strategy and card games to the platform as they are in high demand in our market.”

“This is just the beginning of our many investments in this region.”

– Head of India and MENA Corporate Development in KRAFTON, Anuj Tandon

Tamatem currently has workers in Jordan, America, India, Egypt, Saudi Arabia, Germany and Hungry, and has opened offices in Saudi Arabia and Egypt in 2020. Now, it aims to expand its market foothold in the region by opening more offices in Saudi Arabia where 70 percent of the company’s users are based.

Hammo stated that “Saudi Arabia is the main hub for expansion. It is a great place to have a foot there because of how quickly the gaming industry is booming.”

New Gaming Academy

Interestingly enough, Tamatem will invest some of the funds into building a new gaming academy and training the regional workforce. “The academy will be based in Saudi Arabia and will accept applicants from all over the region,” Hammo added.

The academy will work on training individuals who are interested in entering the mobile gaming industry, offering courses in data analysis, design, graphic design, development, marketing or publishing. Hammo explained the need for the academy saying, “There are no universities in our region that have specific training courses for anything related to gaming.”

Source: Forbes and LinkedIn


Copyright ©️ 2024. The Business Reel. All Rights Reserved.

Discover more from The Business Reel

Subscribe now to keep reading and get access to the full archive.

Continue reading