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Investment in Garriott's Portalarium totals $3.6 million

UK and San Francisco companies back vision of Ultima creator

Richard Garriott's social business Portalarium has raised further funding, bring the total investment to $3.6 million this year.

The latest funding comes from m8 Capital in the UK, and San Francisco's Founders Fund.

"We are delighted to join Richard Garriott and the Portalarium team in creating the next great gaming company," said Joseph Kim, partner at m8.

"Richard is one of the giants of the industry. He's a proven entrepreneur and has been a driving force at each of the industry's major turning points. Richard's vision for the future of mobile and social gaming will result in a new generation of ground-breaking games."

The company has so far released a pair of card games for Facebook to refine its backend technology, but promises a more social take on Garriott's fantasy roots later this year.

"With m8 Capital and Founders Fund, we have the investment resources in place with two very key partners who are prepared to help us grow and scale our company to meet the opportunities found currently in social media and mobile platforms," said Portalarium CEO Fred Schmidt.

"m8 also provides an important international role as we shape our strategy for the European market while Founders Fund has been invaluable in keeping us solidly connected to the social media scene that has coalesced in the Bay Area."

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Matt Martin avatar
Matt Martin: Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.
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