Russian F2P publisher Game Insight raises $25 million
Means more titles, faster global expansion
Russian social mobile publisher Game Insight has raised $25 million in VC funding.
The cash came from Moscow-based mobile-focused investment firm IMI.VC and Russian internet entrepreneur Igor Matsanyuk, and follows two smaller rounds from IMI.VC in 2011 and 2012.
Game Insight will use the money to broaden its existing production resources, which currently consists of 10 development studios.
It's also expanding internationally, opening an US office in 2012, and looking for third party developers whose games it can publish to its existing network of players.
"In less than three years, Game Insight has grown from a young startup to an incredibly successful and dynamically growing company," said Alisa Chumachenko, Game Insight's founder and CEO.
It was rumoured the company generated sales of $50 million in 2011, with plans to hit $150 million in 2012, although neither was officially confirmed.
"We have become one of the global leaders in development and publishing of mobile and social titles. These new funds will help solidify our position in key regions, and aggressively expand into countries with emerging mobile markets," Chumachenko added.
Know for titles such as Paradise Island, Airport City and My Country, the free-to-play outfit is a Google Top Developer, and also publishes extensively on iOS.
From me to you
IMI.VC itself received $75 million in 2012 from Mail.Ru co-founder Michael Vinchel. As well as Game Insight, it's also invested in interactive episodic story publisher NARR8.
"This deal is the next logical step in growing the IMI.VC investment portfolio with one of our most successful investment projects," said CEO Igor Matsanyuk.
"Game Insight has a clear strategy of development for the international mobile market and has all the necessary resources to execute it."
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