Lootcakes raised $2 million in venture funding from Konvoy Ventures, SOSV and GAN Ventures.

Lootcakes, a New York, USA-based gaming company, announced that it raised $2 million in venture funding.

The money round was led by Konvoy Ventures and included participation from SOSV and GAN Ventures. Konvoy Ventures managing partner Jason Chapman has joined the company’s board of directors.

The proceeds will be used to develop and release a Lootcakes consumer mobile app to sit alongside its current web-based service. In addition, the company plans to open its private beta to more gamers, expand beyond the U.S. market, offer limited edition merch and virtual goods, and forge affiliate partnerships with YouTubers, streamers, and game communities.

Lootcakes, founded in 2015 and led by CEO Matt Littin, is building a loyalty platform created to unlock the value of game activity data, particularly in-game purchasing and social data. The company aims to reward VIP gamers who share their data about their playing habits in a privacy-safe way. It’s like a new kind of frequent flyer rewards program.