Skillz raises 5.5 million in new capital

Skillz, an online skill games provider that allows punters to compete for cash, has raised $5.5 million in new capital in a round of financing led by Atlas Venture. Earlier this year the company raised almost $1.3 million.

The publication BizJournal reports that the company was founded last April following more than a year of development work, and since then can boast over a million downloads.

The San Francisco-based company has a workforce of just 21 people, including founder and CEO Andrew Paradise, a serial young entrepreneur who previously founded and led AisleBuyer LLC., a self-checkout and in-store mobile payment technology company acquired last year by Intuit.

Betting in skill-based games is legal in 37 US states containing 75 percent of the U.S. population, according to Skillz.