Foundry Group backs Nix Hydra

Nix Hydra said Thursday that it has raised $5 million in Series A funding. The investors included Foundry Group and Mike Lazerow, CEO and co-founder of Buddy Media. Based in Los Angeles, Nix Hydra is a software entertainment firm focused on developing products for young women.

PRESS RELEASE

MAY 29, 2014 – LOS ANGELES, CA. Today Nix Hydra, a Los Angeles-based software entertainment company dedicated to making fun, interactive products for young women, announced its first significant round of venture funding in the amount of $5 million from Foundry Group; a VC firm focused on funding early stage technology companies like Zynga, FitBit and Harmonix. This Series A round takes Nix Hydra’s total funding to more than $5.6M and includes one new angel investor: Mike Lazerow (Buddy Media CEO and Cofounder). Previous angel investors include Matt Britton (MRY CEO and Cofounder), Vinny Lingham (Gyft CEO and Cofounder), Brad Schwartz (Riot Games investor) and others.

“Having spent a significant time in the gaming space serving on the boards of Zynga and Harmonix, I can say first hand that there aren’t enough companies focused on creating apps and games for young women – and even fewer that are run by women. Nix Hydra changes that,” said Brad Feld, Managing Director at Foundry Group. “Lina and Naomi bring the perfect combination of talent, success and attitude that’s going to help catapult them into becoming one of the most fun and successful developers in the industry. They’re a force to be reckoned with, and I can’t wait to see what they create next.”

Nix Hydra was established by Lina Chen and Naomi Ladizinsky in 2012. The studio’s eccentric, irreverent spirit is reflected in the nature of their mobile offerings, Egg Baby and Hot Guy Alarm Clock. The startup’s debut game, Egg Baby, is a virtual pet egg that hatches into a variety of gift-giving creatures depending on how the player treats the egg. The game quickly became a massive phenomenon in the U.S. among teen girls when it launched in 2013, touting almost 9 million downloads with zero marketing spend and an impressive 4.5/5 average score from more than 108K reviews for the iPhone and iPad platforms. The Series A funding will help Nix Hydra further develop the Egg Baby franchise and expand into international markets, and will help the company develop brand new IP that fit the Nix Hydra brand and female-dominant fan base.

“Foundry is very much aligned with us in our vision for this company and we couldn’t be more excited to have their support as we work towards making it a reality.’ said Lina Chen, CEO and Co-Founder of Nix Hydra. “We’re hiring in a variety of fields, and encourage any talented people who are interested in making games for a predominantly female fan base to join our spirited, diverse team.”
To learn more about Nix Hydra, visit www.nixhydra.com.

About Nix Hydra
Established in 2012 by Lina Chen and Naomi Ladizinsky, Nix Hydra is a Los Angeles-based software entertainment company dedicated to making fun, interactive products for young women.

 

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