Israeli social games developer Dragonplay has raised $14m in a Series A funding from global venture capital firm Accel Partners, alongside New York and Boston-based early-stage fund Founder Collective and European multi-stage private fund Entrée Capital.
The company said it will use the investment from Accel to expand its existing portfolio of games on Android and Facebook, launch on new platforms including iOS, grow its team and game development capacity, and consider studio acquisitions. The company was founded in 2010 by Sharon Tal with seed capital from funds represented by Entrée Capital.
Accel has backed several gaming companies such as Playfish, Gameforge, Angry Birds developer Rovio and Mindcandy, who produced Moshi Monsters, in addition to internet companies such as Facebook, ropbox, Spotify, Wonga, Etsy and Groupon.
“The Accel team has backed some of the most admired gaming companies in the world,” said Dragonplay founder Tal. “We are proud to be joining its portfolio and look forward to working with the team to make Dragonplay a truly global, crossplatform leader in our space.”
“Dragonplay benefits directly from the spectacular growth of Android (estimated at more than 800,000 new activations per day), the emergence of smartphones as a primary gaming platform and the impressive growth of the virtual goods market” says Adam Valkin, partner at Accel Partners who has joined the board of Dragonplay. “This together with Dragonplay’s cross-platform approach and the team’s excellent performance to date suggests that the company is well positioned to continue its rapid growth.”
Investing alongside Accel Partners is New York and Boston based early-stage fund Founder Collective and European multi-stage private fund Entrée Capital. Founder Collective is a New York and Boston based early-stage fund. The investment in Dragonplay is led by David Frankel, Managing Partner of Founder Collective. Entrée Capital is a European multi-stage private fund based in London and Tel Aviv.
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