Portalarium announced that it has raised $7 million in Series A financing led by m8 Capital, with FF Angel, BHV Venture Capital, and Portalarium co-founder Richard Garriott de Cayeux all contributing. The funding will be used on their first product Ultimate Collector and the upcoming RPG from Garriott for mobile platforms.
“Following our early stage investment in Portalarium, announced in June 2011, we’re pleased to further our commitment to Richard Garriott and to Portalarium,” said m8 Capital General Partner, Joseph Kim. “Richard is one of the legendary developers in the gaming industry and his vision for this next era of mobile and social gaming will firmly position Portalarium as an industry leader. We are looking forward to a successful launch of the company’s next game, Ultimate Collector, and to see how Richard will redefine the role-playing genre for the mobile-era.”
“This is an important step for the growth of our company,” said Garriott. “We are grateful for the confidence m8 Capital and Founders Fund have placed in our team and we believe gamers will ultimately reap the benefits from this partnership when they get a chance to play Ultimate Collector and see the unique mobile and social games that we are creating at Portalarium.”
