Founded by industry veteran Richard Garriott, total funding in mobile and social publisher Portalarium has hit $3.6 million after an injection by London based m8 Capital - its second funding round.
The mobile tech investment firm led Portalarium's latest funding round, representing the first time the company has invested in the US market.
The round also included a contribution by San Francisco-based Founders Fund.
Funding first
"We are delighted to join Richard Garriott and the Portalarium team in creating the next great gaming company. Richard is one of the giants of the industry," said m8 Capital general partner Joseph Kim.
"He's a proven entrepreneur and has been a driving force at each of the industry's major turning points.
"Following a year of successful European investments, it's a significant milestone for m8 Capital to make our first investment in the States."
Portalarium was set up by Garriot, the man behind the Ultima series, in September 2009 with a view to "publishing premium online games and virtual worlds for popular social networks and mobile platforms".
Social surge
The firm's main aim is to create an open ecosystem populated by both mobile and social gamers, linking up with existing social networks and gaming communities on the latest mobile platforms.
It's a goal Portalarium claims will be greatly aided by the latest investment in the firm.
"With m8 Capital and Founders Fund, we have the investment resources in place with two very key partners who are prepared to help us grow and scale our company to meet the opportunities found currently in social media and mobile platforms," said Portalarium CEO Fred Schmidt.
Portalarium plans to release its first major title a new social media game in the coming months.
[source: Portalarium (PDF)]
News
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.
Related Articles
Top Stories
Feature
May 17th, 2024
New release roundup: The best new mobile games from a battle royale to a console classic remake
Feature
May 16th, 2024
Behind the scenes: How adding sandwich offers to an idle merge game boosted three metrics at once
Events
Valencia Indie Summit 2024 | Europe | May 16th |
Digital Dragons | Europe | May 19th |
GamesBeat Summit 2024 | North America | May 20th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Nordic Game Spring 2024 | Nordic | May 21st |
Impact 2024 - Indie Games | May 23rd | |
MomoCon 2024 | North America | May 24th |
Morocco Gaming Expo | Africa | May 24th |
Popular Stories
Feature
May 14th, 2024
53 top mobile games in soft launch: Squad Busters, Battle Guys: Royale, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Feature
May 13th, 2024
Hot Five: Dubai's new Gaming Visa, April's mobile game charts, and Xbox studio closures
Feature
May 14th, 2024