Funding success for interactive trivia platform
A Yorkshire-based technology business specializing in interactive trivia has raised £250,000 from angel investors to fund further product development and expansion.
KwizzBit was formed in 2017 by entrepreneur Mark Walsh and is a UK-based online quiz platform.
Originally designed as a platform for in-person events, Mark and the team pivoted in response to the pandemic to provide virtual live events for blue-chip companies like Amazon, Barclays, Vodafone and Nintendo.
KwizzBit also helped raise more than £70,000 for various charities by hosting large-scale events with celebrities such as Chris Tarrant and Konnie Huq.
The company has now raised funds from business angels including well-known tech entrepreneur Rob Wilmot and has also agreed a technology partnership with Leeds digital agency Parallax.
Having raised an initial £250,000, the team has now decided to keep the investment round open for a potential extra £150,000 following interest from other parties.
Mark Walsh, CEO and Founder of Kwizzbit, said: “The investment from experienced business angels, as well as our partnership with Parallax will support the release of KwizzBit 2.0, which will give us the capacity to run live events to over 100,000 participants in a single game.
“New innovative feature releases will allow us to improve game-play and develop new game formats.
“It’s our aim to connect 100,000 hosts with 5 million players by 2023.”
Rob Wilmot added: “This isn't normally a sector that I would invest in.
“However, I was impressed with the vision and values of the company along with the background and passion of the team.
“Their potential to scale is huge. It's very satisfying to have added a Yorkshire-based company to my investment portfolio and I look forward to helping Mark and his team achieve the success they deserve."
- Kwizzbit pivoted from in-person events in response to the pandemic and has launched a successful digital interactive trivia platform
- The company has raised £250,000 from angel investors including Rob Wilmot
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