7477

Ngmoco raises $10 million

San Francisco based, ngmoco, closes $10 million in financing for its popular iPhone games

Financial trends and news by Chris Caceres
March 23, 2009 | Comments
Short URL: http://vator.tv/n/78c

 The iPhone has been a great platform for game developers.  Every week, new games are released on the phone and small companies are making money for their casual games.  ngmoco, a game developer based out of San Francisco, Ca., has just announced its raised $10 million in financing.

The Series B round was led by Norwest Venture Partners along with previous investors Kleiner Perkins Caufield & Byers and Maples Investments.  ngmoco previously raised $5 million in July of 2008.  

Ngmoco, which was founded in June of 2008, has developed seven games so far.  "Rolando," a game which makes use of the iPhone’s motion sensing capabilities, was named, “the best game you can buy for the iPhone,” by gaming site IGN.com.  The game sells for $4.99.  

Ngmoco’s other games include Topple, Dropship and Word Fu.  Since its inception, ngmoco’s games have been downloaded and installed over seven million times.

Perhaps one of the reasons ngmoco’s games are so well received has to do with the developers behind them.  Neil Young, an ex- Electronics Arts executive founded ngmoco.  Young has been responsible for popular games including, “The Lord of the Rings” and “Spore.”  

In the near future, ngmoco will be releasing a new gaming series, “TouchPets.”  The company plans to use the funding to make more games and continue its effort at being a leading iPhone game developer.  

blog comments powered by Disqus