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Third Time Entertainment, the parent company behind Photo Finish, has successfully secured an additional $2 million in funding, with significant backing from the well-regarded investment firm Sfermion. Founded in 2015 by former EA and Zynga developers Ian Cummings, Paul Fleetwood, and Brian Fleming, Third Time Entertainment has consistently demonstrated its gaming expertise. This $2 million Seed+ funding round comes on the heels of their successful $3.5 million raise last March, which drew participation from notable entities like London Venture Partners and Coinbase.
In their portfolio, Photo Finish™ LIVE stands out as a successful web3 game, a Solana-based virtual horse racing platform. It has maintained a steady trajectory, boasting official partnerships with Churchill Downs and the Kentucky Derby. Since its launch, it has generated over $5.1 million in revenue and remains a prominent player in the web3 gaming sphere.
In just four months, Photo Finish™ LIVE has achieved some noteworthy milestones, hosting tens of thousands of virtual races, amassing $2.6 million from virtual horse sales, and gaining $2.5 million from entry fees. Photo Finish™ LIVE is the successor to Third Time Entertainment's 2015 mobile gaming hit, Photo Finish Horse Racing, which boasts a global download count of over 13 million.
We are incredibly grateful for the trust and support from our investors. This new round of funding only further validates and fuels our journey ahead.
With a solid track record and promising projects like Photo Finish™ LIVE, Third Time Entertainment is well-positioned for future endeavors in web3 gaming - the $2 million Seed funding represents another step forward in their journey.