Eloelo raises $22M in funding to expand entertainment app

Social gaming and livestreaming platform Eloelo announced today that it has raised $22 million in its pre-Series B round of fundraising. According to the platform’s creators, this funding will go towards attracting and building relationships with talent, building out AI and AR tools and strengthening revenue initiatives for users.

Courtside Ventures and Griffin Gaming Partners led the round, with participation from Mixi Inc, Waterbridge Ventures, Lumikai Fund, Kalaari Capital, Convivialite Ventures and Rocket Capital. Nick Tuosto, Griffin’s managing director, said of Eloelo: “Through the magic of gamification, Eloelo is transforming livestreams into captivating experiences that translate to deep audience engagement. The platform has attracted a vast community of content creators, driving its growth to nearly 40 million users — a striking testament to the potential ahead for Eloelo.”