Ngmoco Raises Additional $10 Million in Financing

[MacRumors]

http://www.macrumors.com/images/macrumorsthreadlogo.gif (http://www.macrumors.com/iphone/2009/03/23/ngmoco-raises-additional-10-million-in-financing/)

Silicon Alley Insider reports (http://www.businessinsider.com/more-money-for-iphone-games-ngmoco-raises-10-million-series-b-2009-3) that iPhone game developer ngmoco:) has raised $10 million in series B venture capital financing.Apple's (AAPL) iPhone and iPod touch platform has been a huge hit for gaming, so it's no surprise that one of the iPhone's best game publishers has just closed a new round of financing.

Ngmoco has raised $10 million in series B financing, led by Norwest Venture Partners. Previous investors, including Kleiner Perkins and Maples Investments, also participated.ngmoco:) was one of the first recipients of venture financing from Kleiner Perkins Caulfield & Byers' iFund initiative (http://www.macrumors.com/2008/09/16/ifund-app-store-success-future-apps/), and has produced such popular games as MazeFinger, Topple, Topple 2, and Rolando. Their fundraising success, along with a recent $3.9 million financing for Smule (http://www.macrumors.com/iphone/2009/02/16/smule-raises-3-9-million-in-venture-capital/), demonstrate that investors continue to view Apple's App Store as a viable marketplace with significant potential for the future.

Article Link: Ngmoco Raises Additional $10 Million in Financing (http://www.macrumors.com/iphone/2009/03/23/ngmoco-raises-additional-10-million-in-financing/)

[mkrishnan]

Very nicely done. Their pipeline of upcoming games, including that space tower defense game and their sequel plans for Rolando, looks outstanding.

[spaceballl]

How much money did they get in their first round? Curious how this round compares...

[mkrishnan]

How much money did they get in their first round? Curious how this round compares...

I think that $3.9M Smule fund investment was their first major round, but I'm not sure.

[spaceballl]

I think that $3.9M Smule fund investment was their first major round, but I'm not sure.
Smule is a different company.

[mkrishnan]

Smule is a different company.

Oh, oops, I thought it was the VC. I thought I remembered hearing about ngmoco's first round, and now I can't seem to find it anywhere....

[overanalyzer]

How much money did they get in their first round? Curious how this round compares...

$5.6 million, I believe:
http://bits.blogs.nytimes.com/2009/03/23/ngmoco-rolls-into-more-cash/

[PAC2007]

Fair play to them indeed! Hope it all works out for them and to give us some awesome apps in return!

:cool:

[mj6252]

because of the additional features of iPhone 3.0 and the possible new hardwares, game developers have a lot of spaces to grow, and who knows what kind of new games they will gonna give us next... especially when the update is up for us and possible new hardwares.

we may see more developers trying to come up with more fundings these days. the video game industry has been good even with recession - not great, but at least not as bad as the others. And Apple releasing 3.0 with options to developers to sell new levels/stuff and to gamers to buy more challenge... i think its a win win situation.

one of the thing that will hinder this is the battery capacity of iPhone. We will need longer hours for the games (and calls, emails and etc) and I hope Apple will address this.

[mkrishnan]

one of the thing that will hinder this is the battery capacity of iPhone. We will need longer hours for the games (and calls, emails and etc) and I hope Apple will address this.

This is not an unfair point... it's something that has been Apple's strong suit, also -- if nothing else, essentially every single time the iPod franchise gets an update, they come out with longer battery life, and typically a brighter screen and a little weight loss.

I would add one more... I haven't followed iPhone Firmware 3.0 news that closely, but Apple has got to do something about memory management. I'm sure that, long term, they will just add more RAM to the iPhone, but the inconsistency with which many apps run because Safari and Mail and other system apps are holding onto memory, and the way that games make the iPhone need to be rebooted much more often, or else they start getting choppy, etc, needs to be addressed.