Yorkshire-based听interactive trivia firm听KwizzBit听has announced a fundraise of 拢250,000 from business angels to fund further product development and customer expansion.听
Formed听in 2017 by entrepreneur Mark Walsh,听KwizzBit听is a UK-based online quiz platform.听
Utilising听cutting-edge smartphone technology to deliver interactive trivia from anywhere in the world,听KwizzBit鈥檚听simplicity and innovation has positioned them as a driving force in the online quiz marketplace.听
Originally听designed as a platform for physically听hosted events, the team pivoted in response to the pandemic to provide virtual live events for global blue-chip companies such as Amazon, Barclays, Vodafone and Nintendo, and unlocked new markets with white label solutions听and bespoke quiz activity.听
KwizzBit听also helped raise over 拢70,000 for various charities by hosting large-scale events with celebrities such as Chris Tarrant and Konnie Huq. A play-at-home platform for friends, families and trivia enthusiasts everywhere was also released.听
This听agile response has kept revenues stable throughout the pandemic with a 40% increase in turnover forecast for 2021. The success of this model has enabled听Kwizzbit听to employ their first full-time development lead as well as creating a role for a Digital Marketing听Executive.听听
Kwizzbit听have now raised funds from business angels including well-known tech entrepreneur Rob Wilmot and have also agreed a technology partnership with Leeds digital agency Parallax. Having raised an initial 拢250,000, they have now received interest from other parties听and have kept the investment round open for a potential extra 拢150,000.听
Mark听Walsh, CEO and听founder,听said:听鈥淭he investment from experienced business听angels, as well as our partnership with Parallax will support the release听of听KwizzBit听2.0, which will give us the capacity to run live events to听over 100,000 participants in a single game.听听
鈥淣ew innovative feature releases will allow us to improve听game-play and develop new game formats. It鈥檚 our aim to听connect 100,000 hosts with 5 million players by 2023.鈥�听
Rob听Wilmot, angel investor, said:听鈥淭his isn’t normally a sector that I听would invest in. However, I was impressed with the vision and values of the company along with the background and passion of the team.听听
鈥淭heir potential to scale is huge. It’s very satisfying to have added a Yorkshire-based company to my investment portfolio听and I look forward to helping Mark and his team achieve the success they deserve.”听