Social mobile games specialist Pocket Gems has secured $5 million in a funding round led by Sequoia Capital.
The investment is set to fund the publisher's expansion, with the company which started out as Street View Labs claiming it plans to add to its engineering team in the coming months.
Tapping up the charts
Pocket Gems launched its first title free release Tap Farm in 2009, with four other releases having all hit the top ten free apps list on the App Store in its wake.
The company claims its portfolio, including titles such as Tap Store and Tap Jungle, has enabled it to generate million of dollars in revenue from virtual goods, with Tap Zoo consistently ranking as one of the top grossing apps on the marketplace since it launched in September.
In total, its games have been downloaded over 15 million times.
"The App Store ecosystem has democratised mobile game development," said Pocket Gems' CEO and co-founder Daniel Terry.
"It gave us an opportunity to build a new type of mobile experience and put it in front of millions of people. With so many developers turning to this platform, the space is evolving very quickly, and we're excited to be part of defining what the next generation of entertainment will look like."
Social surge
Sequoia, which has previously invested in brands such as Apple, EA, Google and Nvidia, was joined in the round by AdMob founder Omar Hamoui, Jeff Fluhr CEO of telecommunications firm StubHub, and former eBay man Michael Dearing.
As a result of the deal, Sequoia partner Jim Goetz is set to join Pocket Gem's board, with Goetz claiming the studio's social gaming prestige stands it in good stead to make the most of the app market on iPhone and Android in the coming years.
[source: Pocket Gems]
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
News
6 hours, 52 minutes ago
Nintendo releases first official statement on "the successor to Nintendo Switch"
News
7 hours, 21 minutes ago
Microsoft closes Mighty Doom dev Alpha Dog, Arkane Austin, Tango Gameworks and more
Feature
8 hours, 15 minutes ago
Mobile Mavens: The industry has its say on Squad Busters ability to draw in “untapped audiences” with its “influence from a range of genres”
Feature
11 hours, 2 minutes ago
Hot Five: Supercell’s Squad Busters supremacy, Brawl Stars bounces back, and a games industry journey at King
Feature
11 hours, 22 minutes ago
April 2024 mobile game charts: Call of Duty: Warzone Mobile loses launch momentum and Brawl Stars’ astronomical rise
Events
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Valencia Indie Summit 2024 | Europe | May 16th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
WN Conference Istanbul 2024 | Jun 11th | |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Develop: Brighton 2024 | Europe | Jul 9th |
Mobidictum Meetup Barcelona September 2024 | Europe | Sep 1st |