From the Wires
MoMinis Secures Funding For Series B Investment Round
Mobile Game Publisher to Use $6 Million in Funding to Expand Game Developer Programs and Features for its 35 Million Users
By: PR Newswire
Dec. 10, 2012 07:01 AM
TEL AVIV, Israel and NEW YORK, Dec. 10, 2012 /PRNewswire/ -- MoMinis, recently highlighted as a top game developer for Android on Google Play, has secured $6 million in a Series B funding round. Gemini Israel Ventures leads the round -- which is still currently open -- with existing MoMinis' investor BRM Group participating as well. The investment comes on the heels of MoMinis' extensive growth. The mobile game publisher now reaches 35 million users, 6 million monthly active users, 1 million daily active users and garners more than 100,000 downloads a day.
MoMinis—which pioneered the mega-game concept in the mobile market with PlayScape—provides game developers with unique, simplified end-to-end mobile game development solutions including comprehensive and free development tools, marketing and distribution. The funding will help scale these programs for game developers and find new ways to increase user retention, distribution and discoverability of mobile games. Additionally, it will further expand its offerings on platforms such as the iPhone, Windows Mobile and Facebook, and grow the MoMinis team.
"In the current mobile gaming climate where apps come and go, MoMinis' mega-game model is well-poised for longevity," said Menashe Ezra, Managing Partner at Gemini Israel Ventures. "The company has exhibited long-term growth from its catalog of titles. This investment will allow the company to expand on its existing programs and provide new opportunities for both game developers and consumers."
The $6 million will add to the nearly 100 MoMinis games planned and in development in more than 18 countries worldwide, and will augment MoMinis' existing offerings, including:
"We are very excited about how our relationship with Gemini will play into our new stage of growth," said Itzik Frid, CEO of MoMinis. "With the huge network and strong position that we have in leading markets, MoMinis can move to the next evolutionary stage and leverage our unique differentiators and model of providing both developers and gamers with the ultimate mobile offering."
"With its unique technology for developers and massive cross-marketing activity, MoMinis has dramatically scaled in the past 10 months," added Eran Barkat, Partner at BRM Group. "We believe this revolutionary business model, which is based on independent developers receiving end-to-end solutions, is extremely appealing and has a lot of potential going forward.. This round will enable the company to grow and to expand its game developer community and its cross platform offerings."
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