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Zattikka raises $5.5 million funding

Wed 21 Jul 2010 12:26pm GMT / 8:26am EDT / 5:26am PDT
BusinessOnline

Co-chair of Lionsgate Entertainment joins board

Online games business Zattikka has raised $5.5 million for growth and expansion though parent company Expedite 5.

Zattikka, which acquired Gimmie5games last year, has developed 100 games and pushes out two titles every week. It boasts over 77 million game plays across its portfolio since launch in August 2009.

"Over the past two years the consumer appetite for online gaming has increased significantly with revenue already standing at over $2.25bn in 2008 and growing 20 per cent per annum. This much broader audience is being driven by females and premium gamers developing a passion for casual social gaming," said Tim Chaney, CEO of Zattikka.

"To successfully operate in such a competitive fast-growth industry we are focused on developing games that appeal to the different demographics of this wider audience. This round of funding led by Notion Capital means we can now push ahead with recruiting even more skilled people and put substantial investment behind product development and marketing."

As well as Notion Capital, funding also came from a group of private individuals including Harald Ludwig, co-chair of Lionsgate Entertainment, who will lead the Zattikka board.

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