Arkadium closes $5M in Series A funding
Casual game developer Arkadium today revealed it has accepted $5 million in Series A minority investment from Edison Ventures. The company says it will use the new funding to increase the number of titles it develops and expand its proprietary online distribution network.
Currently, the company has 150 employees between its offices in New York, Toronto and Ukraine, and it plans to double that number in the next three years.
This is the first major investment Arkadium has announced since the company was founded in 2001. “We’ve always taken our own path” Arkadium CEO Kenny Rosenblatt told us in an interview. “We moved at out own pace. It took us years to figure it out. We were always profitable but never enough. Now we finally feel like we know how to make games and that this will be a good return on investment.”
As Inside Social Games reported in January 2012, Arkadium has a publishing deal with Microsoft Studios which sees the company developing and releasing games on Windows 8 and Windows RT devices. Rosenblatt said he was happy with the deal and that he considers Windows 8 a pillar of Arkadium’s business. Four of Arkadium’s games have been within the top 10 of the Windows 8 app store for three months.
Rosenblatt was particularly excited about the touch capability of the operating system which he says “opens up the design playbook.” Arkadium’s Taptiles, for example, works with both mouse and keyboard and touch controls. Adding this feature to all future Arkadium games is a goal for the company going forward, Rosenblatt said.