Big Viking Games lands $21.75 million investment

HTML5 may not have as much buzz surrounding it as a few years ago, but it still has some committed supporters. Big Viking Games is one such outfit, as the YoWorld developer today announced that it has secured $21.75 million in funding to expand its HTML5 portfolio.

"We made the decision to make significant investments in HTML5 instant games because we saw the potential of the technology and how it will define the future of mobile gaming and entertainment," company co-founder and CEOAlbert Lai said. "Others have moved away from HTML5 due to the technical investment required but we believe that open standards and more powerful devices will pave the way for a massive shift on mobile phones and tablets."

This is the first time the Ontario-based studio has announced outside investment. The company turned to Canadian sources of investment, with Royal Bank of Canada providing $18 million in financing. The remaining $3.75 million came from BDC Capital, Growth, and Transition in an earlier round, and Big Viking said that money has already been repaid with company profits.

However, the company isn't done yet. Big Viking said it plans to raise another $60 million to help it realize the potential of HTML5. The company was founded in 2011 and has been working with HTML5 since 2012.

"We truly believe that HTML5 is the future, and the indications from the industry are definite signals that we are on the right track," Lai said. "Four years ago, people thought we were making a mistake by investing millions of dollars into HTML5 technology, but we always felt this was inevitable and knew we had to be properly positioned when it finally happened."