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Ngmoco secures $10 million in investment

Second round of funding to support the iPhone publisher's continued growth

Ngmoco, the iPhone games publisher, has raised USD 10 million in a second round of funding.

The investment was led by Norwest Venture Partners and previous investors from Kleiner Perkins Caufield & Byers and Maples Investments. The USD 10 million sum will be used to expand the company's line of premium products, expand the development team, and invest in its networking platform.

"Everything in this market happens so quickly," Neil Young, ngmoco's founder, told VentureBeat. "The iPhone is really the first wave of new phones that have the same capability to play games as the handheld game systems have."

Ngmoco was established last year by Young, who left his post at EA of 11 years.

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James Lee