Portalarium, the social and mobile studio founded by industry veteran Richard Garriott, has announced the closing of its $7 million Series A funding round.
The round was led by London-based venture capital firm m8 Capital, and other participants include FF Angel, BHV Venture Capital, and Richard Garriott himself.
The funding will be used to put apply the finishing touches to Portalarium's 'first feature product' Ultimate Collector, which is expected to launch on browsers, Facebook, and mobile platforms in summer 2012.
The remainder will be used to get production underway on Ultimate RPG (working title), which is scheduled for release on mobile platforms. Other, unannounced Portalarium products will be published on Zynga.com as part of its Platform Partners programme.
Great expectations
"This is an important step for the growth of our company," explained Garriott.
"We are grateful for the confidence m8 Capital and Founders Fund have placed in our team and we believe gamers will ultimately reap the benefits from this partnership when they get a chance to play Ultimate Collector and see the unique mobile and social games that we are creating at Portalarium," he concluded.
"Following our early stage investment in Portalarium, announced in June 2011, we're pleased to further our commitment to Richard Garriott and to Portalarium," continued Joseph Kim, m8 Capital general partner.
"Richard is one of the legendary developers in the gaming industry and his vision for this next era of mobile and social gaming will firmly position Portalarium as an industry leader.
[source: Portalarium (PDF)]
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
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 | |
Morocco Gaming Expo | Africa | May 24th |
MomoCon 2024 | North America | May 24th |
Unreal Fest Gold Coast 2024 | Australasia | May 29th |
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