German-based flaregames, the mobile gaming company, announced it has secured EUR6 million in financing led by Accel Partners, the company’s “initial” round. Funding will be used to scale the company.
PRESS RELEASE:
KARLSRUHE, Germany – February 2, 2012 –Mobile gaming company flaregames, announces today a EUR 6 million initial financing led by Accel Partners. The funding will be used to scale the company, to attract additional talent, and to market the company’s upcoming line-up of free-to-play games for mobile devices, which will consist of 5 games by the end of Q2 2012.
“Our first focus is on getting fun, high-quality games to market, and reaching the mass-market as well as mid-core gamers with our line-up this year,” said Klaas Kersting, CEO of flaregames. “Our investors see the opportunity for mobile game companies to grow fast and the team’s extensive knowledge of the free-to-play gaming market is an asset that will enable us to create new mobile games that are both fun and commercially successful.”
“The mobile games business will likely be larger than the social games business,” said Harry Nelis, partner at Accel Partners. “We’re backing flaregames because we believe in the team, technology, business model and most of all know that Klaas will drive the company to its full potential as it strives to become a major mobile games company.”
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About flaregames
Founded in 2011, flaregames is a mobile game company focused on bringing free-to-play games to market. The production pipeline consists of several high-quality games aimed at mainstream and mid-core gamers. The 30-person company currently has a full portfolio of titles in development internally and is backed by Accel Partners. Founder and CEO Klaas Kersting is actively scaling the company as it pushes to release its line-up throughout 2012 on its proprietary distribution platform.
For more information, please visit: www.flaregames.com
About Accel
Founded in 1983, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, California, New York City, London and Bangalore, as well as in China via its partnership with IDG-Accel.
Accel has helped entrepreneurs build over 300 successful companies, many of which have defined their categories, including AdMob, Alfresco, Angry Birds (Rovio), Atlassian, ComScore, Dropbox, Etsy, Facebook, Groupon, Kayak, Playfish, QlikTech, Spotify, and Wonga.
For more information, please visit the Accel Partners web site at www.accel.com find us on Facebook at www.facebook.com/accel.
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