Mobile games company Boomlagoon has secured $3.6 million in its latest Series A investment round. The round was led by Northzone, with additional funding partners Inventure and 360 Capital Partners. The three firms join existing angel investor Jari Ovaskainen and London Venture Partners, who also participated in this round.
“We have been very impressed by the Boomlagoon team, and believe they have a unique understanding of how to drive casual mobile games to broad markets,” says Torleif Ahlsand, General Partner in Northzone. "All games from Boomlagoon are based on memorable characters and a clear strategy on monetization. I really look forward to joining the board to work with them to make their ambitious goals a reality.”
Based in Helsinki, Boomlagoon was formed in 2012 by three former Rovio team members behind the global phenomenon, Angry Birds, which drove billions of game downloads and spun out into licensed merchandise. Since then, the company has grown to eight members, and is currently on the cusp of its next game announcement, following the success of its mobile game debut, Noble Nutlings.
“The legacy of successes by our investors is another indicator that our team is on the right track,” said Antti Stén, CEO of Boomlagoon. “We're thrilled to have them aboard, helping us bring engaging character-driven games to global audiences."
“Boomlagoon has a well-defined proven mobile gaming strategy, centered around very strong original IP that connects consumers worldwide,” said Fausto Boni at 360 Capital Partners. “We still see tremendous upside in the mobile games business, and see them being a strong part of this future growth.”
The funding will allow Boomlagoon to expand its team, and develop a strong portfolio of character-driven titles.
“The Finnish games industry possesses some of the best technology know-how globally,” said Tuomas Kosonen, Partner at Inventure. “Experienced in gaming, Boomlagoon team understands the important role that social mechanics and balance in the free-to-play model play in driving games’ success. This gives the team an advantage when designing games for casual audiences, where fun and consumer engagement are paramount.”