watAgame secures second round of funding

Danish independent mobile games developer watAgame has announced a successful second round of financing, which it intends to utilise for the expansion of its community gaming portfolio.

The financing was led by SEED Capital Denmark, the largest pre-seed and seed sector venture fund in Denmark with a capital base of EURO 42 million. SEED Capital's investment manager, Jakob Steen Jensen, stated: "The company is in the process of scaling business exceptionally well, as they have grown to become a world-leading player in the emerging market for community-based gaming for mobile handsets."

Further investment came from Vaekstfonden, which is one of Denmark's largest venture capital firms, providing funding for rapidly expanding Danish companies. "We find that watAgame represents a promising business platform in a very potential market," stated investment director Ulrik Ankerstjerne.

watAgame currently distributes it connected and community-based mobile games to over 40 countries worldwide, and intends to utilise the new financing to expand its global operations. New marketing, distribution and product lines are all part of the firm's expansion plans for the future.

Henrik Riis, watAgame CEO, commented: "We are grateful for the support of both our new and existing investors. We firmly believe the market for mobile, community-based concepts will see tremendous expansion and innovation, and we are very pleased to have the funding necessary to pursue our ambitious objectives."

Although no specific new projects have been revealed thus far, watAgame has confirmed that it is developing a series of community-based mobile gaming concepts aimed specifically at the female market, which is an area of the industry which has so far continually failed to attract the same level of revenue and interest as male-oriented and casual games. Further releases include connected and multiplayer games based on popular youth brands.