Global private equity and venture capital news and research

Accel reups in mobile game maker Flaregames after two years of growth

9 Jun 2014

flaregamesVenture capital giant Accel Partners has renewed its commitment to German mobile gaming business Flaregames through a €9m Series B financing round.

Deutsche Telekom investment arm T-Venture also took part in the financing, which Flaregames said would be used to scale the company, attract new senior personnel and market its upcoming line of free-to-play games.

The company said exactly the same thing in 2012, when Accel led a €6m financing round.

Flaregames released its first game, BraveSmart, in May 2012 and has since tripled the workforce, moved to bigger offices, grown to seven-figure monthly revenues and built what it calls “a major mobile games franchise” with the Royall Revolt series.

Royal Revolt II was released in February 2014 and accumulated 1.5 million downloads on iOS and Android within the first ten days, achieving a full return of investment on the development costs within that period.

Accel partner and Flaregames board member Harry Nelis said, “There is a great market opportunity for a games publishing entity that has marketing and monetization expertise as well as strong roots in development.

“Flaregames has already transformed its organization from a self-publishing developer to a developing publisher and has demonstrated its ability to make games that are both profitable and loved by gamers.”

Copyright © 2014 AltAssets

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: WeWork 4001, 1 Fore Street, London, EC2Y 5EJ
Content is © AltAssets 2000-2016