Ngmoco Receives $10M In Financing
Apparently ngmoco, the hit iPhone game developer and publisher, hasn't felt the pinch from our awful economy. In fact, they have been able to raise a new round of financial backing from a new investor totaling $10 million.
Norwest Venture Partners is leading the new round of financing while their own Tim Chang will be serving on ngmoco's board of directors. The company will attempt to utilize the funding to expand its line of premium games while accelerating the development of its social gaming platform, which we will assume includes their ambitious Touch Pets game.
“Our mission at ngmoco is to create and publish incredible game experiences in close collaboration with the best and brightest gamemakers in the world. The iPhone and iPod Touch have revolutionized both the gameplay and game-making experience and we’re committed to building a new type of world class publisher for this new kind of market,” said Neil Young, CEO and founder, ngmoco. “We are thrilled that Tim and NVP share our vision and look forward to building ngmoco into the leading next generation mobile games company.”
If you are a fan of iPhone gaming and haven't heard of, or even played one of ngmoco's games, you might want to consider giving one a try. They have currently published a ton of hit titles including Rolando, Topple, Dr. Awesome, and most recently Word Fu. You may have even seen them demonstrate their new titles Touch Pets and LiveFire at Apple's iPhone OS 3.0 event.
The success of ngmoco, or any other iPhone specific gaming company for that matter, is no fluke. People are starting to recognize that the iPhone as a gaming platform is here to stay. As long as there is money to be made, investors will be lining up in droves to fund the next best thing in iPhone gaming.
