Royal Revolt Games Maker Happy to Get Accel, T-Venture Financing
NEW YORK (TheStreet) -- Mobile-gaming operator flaregames said Thursday that it received 9 million euros ($12.2 million) in Series B funding, bringing the company's total funding to 17 million euros ($23.2 million).
The funding was provided by financial investors Accel Partners and Deutsche Telekom investment arm T-Venture, with additional investments coming from an unannounced investor. Flaregames said the funds will go toward attracting senior executives, and marketing the company's lineup of free-to-play games for mobile devices.
Klaas Kersting, the CEO and founder of flaregames says in press statement that the company has a full pipeline of games in development at its Karlsruhe and Frankfurt studios and is already working with a number of major U.S. developers on undisclosed projects.
"This round of funding enables us to invest in bigger projects, both external and internal," said Kersting.The company notes that since the release of its first game, BraveSmart, two years ago, Karlsruhe, Germany-based flaregames has tripled its workforce, moved to bigger offices, grown to seven-figure revenues per month, and built a major mobile games franchise with the Royal Revolt series. The latest addition of the Royal Revolt series that was released in February, Royal Revolt II, accumulated 1.5 million downloads on iOS and Android within the first ten days of the launch and achieved a full return on development costs within that time, according to the company. -- Written by Andrea Tse in New York Follow @AndreaTTse >Contact by Email >>Read More: Here Are the Big Video Games That Will Unveil at E3
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