QuizUp creators secure $9m funding for new studio to develop real-time social gaming platform

Teatime Games set to expand team in Iceland

Date Type Companies involved Size
May 16th, 2018 investment Atomico
Index Ventures
Teatime Games
QuizUp creators secure $9m funding for new studio to develop real-time social gaming platform

Icelandic developer Teatime Games has raised $9 million to develop what it's calling the first real-time communication platform for mobile gaming.

The team behind the new studio includes Thor Fridriksson, Ymir Finnbogason, Johann Bergthorsson and Gunnar Holmsteinn; the creators of Plain Vanilla’s trivia game QuizUp. Plain Vanilla was sold to Glu Mobile in 2016.

Teatime aims to use the funds to double its team and develop better third-party development support for its new platform.

Series of investments

The investment came via a $7.5 million Series A funding round and a $1.6 million seed round. Both investments were led by Index Ventures. VC firm Atomico also joined the Series A round. It’s the first deal the two investment firms have conducted together in nearly 10 years.

Index’s Guzman Diaz, Atomico’s Mattias Ljungman and Unity co-founder David Helgason have joined the company’s board of directors.

Teatime Games founders Johann Thorbaldur Bergthorsson, Thor Fridriksson, Ymir Orn Finnbogason and Gunnar Holmsteinn

“Games have always been an inherently social and multi-layer experience,” said Teatime Games CEO Thor Fridriksson.

“Cards, board games, arcades, and consoles come to life through the interaction between people, opponents, and the audience. The overwhelming majority of mobile games, however, are single player experiences, while most multiplayer mobile games are turn-based and are played against invisible opponents.

“We are building Teatime Games on the premise that mobile games players crave a more social and personalised experience than they are currently getting, where communicating with friends and fellow players in real-time not only enhances a game but is as important as the game itself. That’s why we’re developing the first real-time communication gaming platform for mobile.”

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Head of Content

Craig Chapple is a freelance analyst, consultant and writer with specialist knowledge of the games industry. He has previously served as Senior Editor at, as well as holding roles at Sensor Tower, Nintendo and Develop.