Video game developer and publisher, Geewa, announced the closing of a funding round totaling 4.2M US$. Lead Investor of this financing round is Springtide Ventures, member of the KKCG Group, a major investment group in the Czech Republic, with participation of existing investor, MCI Management. The investment will be utilized to grow the company’s game portfolio across browser and mobile platforms.
“Being true believers in Games-as-a-Service we are striving to build sustainable multiplayer games that keep our players excited for many years. We are glad that with KKCG Group we have found a strong financial partner who shares our vision and strategy on games development and is actively supporting us in establishing Geewa as a driving force in games production within the CEE Region.” stated Geewa CEO, Jens Hilgers.
Geewa, the developer and publisher of casual competitive multiplayer games, such as Pool Live Tour and Age of Defenders, will release 3 new games this year and continue to launch multiple new games per year across all platforms. They will also continue to further develop their existing games with future improvements consisting of rich new content.
KKCG Group Investment Director, Michal Tomanek, expressed similar optimism over the partnership. “We look forward to being a part of the future Geewa envisions for mobile multiplayer game development.” Tomanek continued, “As a long term investor, we see a big growth and expansion potential for the Geewa multiplayer games portfolio.”
Springtide Ventures, member of KKCG Group, joins the Geewa investment group, which already includes Poland based private equity group MCI Management, as well as serial games entrepreneur Klaas Kersting (Gameforge, flaregames) and Angel Investor & Industry Advisor Paul Heydon (Unity, Supercell).
Series A investor in Geewa, Warsaw-based MCI Management, also remains confident about the sector and the company. “We are delighted to have Springtide Ventures on board. Geewa is building a globally leading games company focused on competitive multiplayer games across multiple platforms, building upon the competence of its team as well as continued growth of the gaming industry with an expected global value of ~$80,bn in 2014. Thanks to the investment from Springtide and MCI that vision is well on its way to become a reality.” – stated Sylwester Janik, Partner within MCI Management.
MM Partners, CEE based corporate finance advisory boutique, acted as financial advisor to Geewa on the transaction.
ABOUT Geewa
Geewa is a leading global developer and publisher of casual competitive multiplayer games including the popular pool game, Pool Live Tour. Its games connect players around the globe and across multiple platforms. Currently, Geewa serves over 10 million players globally through its games and portals every month. Over 70 professionals of 12 nationalities are a part of Geewa in its Prague, Brno and Berlin offices.