Marmalade scores mezzanine financing of $5m
We believe this well positions Marmalade for a public listing in the future"
Software company Marmalade Technologies has announced $5 million in mezzanine financing and that CEO Harvey Elliott will be stepping down.
"We are excited to have completed this round of financing. It allows Marmalade to both restructure the balance sheet and inject further growth capital into the business," said interim CEO Bruce Beckloff.
"We believe this well positions Marmalade for a public listing in the future as there is notable appetite for fast growing companies that significantly enable the mobile gaming space."
Bloc Ventures led this funding round, which was composed of equity and venture debt.
"We want to thank Harvey for all of his efforts in closing this round and greatly expanding the capabilities of the Marmalade technology with the introduction of the Marmalade Platform earlier this year. Harvey has put Marmalade in a place where it can access significant capital pools to set in motion our global expansion plans as well as execute a targeted technology acquisition strategy."
Marmalade is based in London and its technology has been used in high profile titles like SimCity BuildIt, Angry Birds Stella Pop! and Plants vs Zombies.
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