Teatime Games, a brand new Icelandic “social games” startup from the identical workforce behind the vastly fashionable QuizUp (acquired in by Glu Mobile), is disclosing $9 million in funding, made up of seed and Series A rounds.
Index Ventures led each, however have been joined by Atomico, the European VC fund based by Skype’s Niklas Zennström, for the $7.5 million Series A spherical. I perceive that is the primary time the 2 VC corporations have achieved a Series A deal collectively in over a decade.
Both VCs have an honest observe report in gaming. Index counts King, Roblox and Supercell as earlier gaming investments, while Atomico additionally backed Supercell, together with Rovio, and most just lately Bossa Studios.
As a part of the spherical, Guzman Diaz of Index Ventures, Mattias Ljungman of Atomico, and David Helgason, founding father of Unity, have joined the Teatime Games board of administrators.
Meanwhile, Teatime Games is protecting shtum publicly on precisely what the stealthy startup is engaged on, besides that it performs broadly within the social and cell gaming house. In a name with co-founder and CEO Thor Fridriksson yesterday, he mentioned just a little extra off the report and provided that I don’t write about it but.
What he was keen to explain publicly, nonetheless, is the final downside the corporate has got down to remedy, which is find out how to make cell video games extra social and personalised. Specifically, in a manner that any social options — together with speaking with associates and different gamers in real-time — enhances the gameplay quite than will get in its manner or is just bolted on as an adjunct to the sport itself.
The firm’s macro thesis is that video games have all the time been inherently social all through completely different eras (e.g. card video games, board video games, arcades, and consoles), and that the majority video games actually come to life “through the interaction between people, opponents, and the audience”. However, in lots of respects this has been misplaced within the age of cell gaming, which may really feel like fairly a solitary expertise. That’s both as a result of they’re single participant video games or turn-based and performed in opposition to invisible opponents.
Teatime plans to make use of the newly-disclosed funding to double the dimensions of its workforce in Iceland, with a specific deal with software program engineers, and to additional develop its social gaming providing for third occasion builders. Yes, that’s proper, that is clearly a developer platform play, as a lot as anything.
On that observe, Atomico Partner Mattias Ljungman says the subsequent “breakout opportunity” in video games will see a transfer past particular person studios and titles to what he describes as elementary enabling applied sciences. Linked to this he argues that the subsequent era of video games firms being developed will “become ever more mass market and socially connected”. You can learn rather more on Ljungman and Atomico’s gaming thesis in a blog post recently published by the VC agency.