Zattikka raises $5.5m through funding drive
Wednesday, 21st July 2010 at 11:30 am
Studio ready to bolster recruitment, R&D and marketing effort
Online and mobile games firm Zattikka has raised $5.5 million in funding through its parent company Expedite 5.
Led by Notion Capital and a group of private individuals including Harald Ludwig, co-chair of Lionsgate Entertainment, the investment will be used to bolster Zattikka's efforts with regard to recruitment, R&D and marketing
The company, which strives to be 'the pinpoint destination address for internet and mobile gaming development and distribution' also plans to further broaden its portfolio of browser and mobile games.
“Over the past two years the consumer appetite for online gaming has increased significantly with revenue already standing at over $2.25bn in 2008 and growing 20 per cent per annum. This much broader audience is being driven by females and premium gamers developing a passion for casual social gaming,” said Tim Chaney, CEO, Zattikka.
“To successfully operate in such a competitive fast-growth industry we are focused on developing games that appeal to the different demographics of this wider audience. This round of funding led by Notion Capital means we can now push ahead with recruiting even more skilled people and put substantial investment behind product development and marketing," he added.
As a result of the funding, Zattikka’s management team will be also be strengthened, enjoying access to an board headed up by Ludwig.
“Online social gaming is one of the most exciting markets at the moment, and many companies have emerged to try and take advantage of this,” said Ian Milbourn, founding partner at Notion Capital, an investment fund for Internet-based services.
“In such a highly competitive market Zattikka stands out not only by its phenomenal growth but also by its unique vision and the strength of its senior team.”
Founded in August 2009 by industry veterans and former Virgin games execs Tim Chaney and Mark Opzoomer, Zattikka today develops at least two new games every week, and can boast of a total of over 77 million recorded game plays from across its entire games portfolio. To date, Zattikka has created over 100 games.
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