Boomlagoon Knocks Down $3.6 Million USD in Latest Investment Round for Mobile Gaming Business
- Former Angry Birds Creators to Bring multiple titles to market with Funding from Northzone, Inventure and 360 Capital Partners -
HELSINKI, May 6, 2014-- Mobile games company Boomlagoon announced that it has secured $3.6 million USD in its latest Series A investment round. The round was led by Northzone, with additional funding partners Inventure and 360 Capital Partners. The three firms join existing angel investor Jari Ovaskainen and London Venture Partners, who also participated in this round.
“We have been very impressed by the Boomlagoon team, and believe they have a unique understanding of how to drive casual mobile games to broad markets,” says Torleif Ahlsand, General Partner in Northzone. "All games from Boomlagoon are based on memorable characters and a clear strategy on monetization. I really look forward to joining the board to work with them to make their ambitious goals a reality.”
Based in Helsinki, Boomlagoon was formed in 2012 by three former Rovio team members behind the global phenomenon, “Angry Birds,” which drove billions of game downloads and spun out into licensed merchandise. Since then, the company has grown to eight members, and is currently on the cusp of its next game announcement, following the success of its mobile game debut, Noble Nutlings.
“The legacy of successes by our investors is another indicator that our team is on the right track,” said Antti Stén, CEO of Boomlagoon. “We're thrilled to have them aboard, helping us bring engaging character-driven games to global audiences."
“Boomlagoon has a well-defined proven mobile gaming strategy, centered around very strong original IP that connects consumers worldwide,” said Fausto Boni at 360 Capital Partners. “We still see tremendous upside in the mobile games business, and see them being a strong part of this future growth.”
The funding will allow Boomlagoon to expand its team, and develop a strong portfolio of character-driven titles - the first of which, will be announced in May.
Tuomas Kosonen, Partner at Inventure comments, “The Finnish games industry possesses some of the best technology know-how globally. Experienced in gaming, Boomlagoon team understands the important role that social mechanics and balance in the free-to-play model play in driving games’ success. This gives the team an advantage when designing games for casual audiences, where fun and consumer engagement are paramount.”
Learn more about Boomlagoon at www.boomlagoon.com.
Press kit: http://boomlagoon.com/presskit/BoomlagoonPressKit.zip
Headquartered in Helsinki, Finland, Boomlagoon is a mobile gaming company focused on making high quality Free-to-Play games. Boomlagoon is backed by London Venture Partners, Northzone, Inventure, 360 Capital Partner and Jari Ovaskainen, and comprises of games industry veterans from companies including Rovio, Digital Chocolate, Valve and Recoil. For more information on Boomlagoon visit www.boomlagoon.com.
About 360 Capital Partners:
The company is a VC firm investing in Innovation at full scale, in Europe and more particularly in France and Italy. 360 Capital Partners currently has had over €300M under management in the last 15 years, 360° Capital Partners is managed by a consolidated team which has cumulated 60+ years of Venture Capital experience in investing in, following-up and/or exiting from over 80 companies including among others: Yoox, Mutuionline, Selfrade, Aramis Auto, Leetchi, Thereson and Eataly.
Inventure is a leading early-stage venture capital company in the Nordics. Inventure invests in innovative and fast-growing companies, led by exceptional entrepreneurs and willing to disrupt their industries. Inventure’s team is a great mix of experienced entrepreneurs, industry experts, and investment professionals committed to help start-ups build global success stories. Inventure operates in Helsinki, Finland, and Shanghai, China. For more information, please visit www.inventure.fi.
Founded in 1996, Northzone has to date raised seven funds and invested in some 100 technology companies including Spotify, Avito.ru, Stepstone, Lastminute, Nimsoft and Pricerunner. The company has offices in Stockholm, Oslo, Copenhagen, London and New York. For more info please visit www.northzone.com.
Olli Laesvirta, +358 40 8433 830
Roadhouse Interactive for Boomlagoon
Nick Malaperiman, 604-726-9397
Venture Capital Database