New game Pet Paradise to be promoted along with expansion
Berlin-based TreasureHunt, developers of mobile games Pet Paradise and Boomie Blast have secured $6 million of funding following an investment round.
As reported by VentureBeat, the investment was led by The Gauselmann Group, a German company operating in gaming and gambling. The company also own British gambling chain Cashino. The investment was also supported by other private investors who were not disclosed.
The funds are going to be used to help promote Pet Paradise and also expand the team at TreasureHunt. Develop recently published a Studio Spotlight on the company, where CEO Kyle Smith did say that they were looking for partners.
"The Gauselmann Group is a strategic investor and much more than a financial partner,” said Smith, in a statement. “They understand our players deeply and will enable us to scale globally, in a way we couldn’t do alone. We look forward to announcing more partnerships in the near future that will add significant value for both parties."
This recent funding round brings the total investment in TreasureHunt, according to the report, to $8.4 million following the studio's formation from ex-EA, Zynga and King developers. “We could not be more thrilled to partner with TreasureHunt," said The Gauselmann Group's Alexander Martin in a statement. "We have no doubt that the experienced team will create the most appealing games for their mainstream interactive entertainment audiences, starting with Pet Paradise.”
The mobile market still seems to be very strong with Ukie figures from 2016 reporting that 47% of all smartphone owners play games and that the UK mobile games market is more profitable than Germany, China and the US.