Mobile games publisher Homa has raised $100 million in a Series B funding round as it seeks to expand its platform and increase the efficiency of game development.
The French company is aiming to provide indie developers with information on live trends in the mobile gaming space in order to help them determine which genres would best suit their games. Homa also hopes to help in decision-making when it comes to testing methods for a game and which KPIs to measure.
Sourcing a Series B
The Series B was led by Quadrille Capital and Headline, both venture capital firms. Other contributors included Fabric Ventures, Singular, Bpifrance, Eurazeo and Northzone, with the latter having led Homa’s $50 million Series A funding round in 2021. At that time, Homa had recently announced its games had reached 500 million downloads.
Since the Series A, Homa has acquired multiple studios including fellow French studio Ducky Games and RisingHigh Academy for hypercasual development. The games on Homa’s platform have also since reached one billion installs.
In an exclusive with Business Insider, Homa CEO Daniel Nathan noted that the Series B was raised in what is currently a difficult environment for funding as a European company.
"The issue with gaming is it's a very unfair business. Unless you are very creative and data-driven you will most likely fail. If you look at the number of games which have more than 1,000 installs, it's extremely low compared to the number of games launched," he added.
Scaling business is part of the intended use of the Series B fund, with investments into technology and expanding the team both mentioned. Further strategic acquisitions are also expected.
Former GameAnalytics CEO Ioana Hreninciuc was hired as Homa’s new CPO earlier this year; one of her responsibilities has been scaling the Homa Lab platform. Home Games rebranded to simply Homa earlier this month.