Swedish game developer raises funds to accelerate plans for global growth and draw on investor experience
Stockholm, Sweden – November 13, 2013 – MAG Interactive has received a $6 million USD funding round from Nokia Growth Partners and a private investor. The investment was revealed by MAG Interactive CEO, Daniel Hasselberg, on stage at Slush 2013 start-up conference in Helsinki, cementing the future of a company poised to accelerate its plans for further growth in the mobile gaming space. This follows the success of its first title, word game Ruzzle, which debuted in March 2012 and has driven strong and consistently increasing profits for the company since its launch. Ruzzle has been downloaded more than 45 Million times and achieved top ten placements in over 148 countries around the world on a broad range of mobile platforms.
Daniel Hasselberg explained: “Bringing such an experienced investment group on board at this stage of our development allows us to create a portfolio of successful games, while maintaining the DNA of our company. Becoming a significant studio recognised for mobile social games has been achieved by our commitment to constant improvement of our products, an approach that has made Ruzzle such a global success story. We are looking forward to working with NGP to maximise the opportunities its investment brings.”
Walter Masalin, Principal at Nokia Growth Partners added “NGP is looking for people that can build large sustainable companies and Daniel and the MAG team have demonstrated great potential with their first titles. They are on track building the next major global gaming company from Scandinavia.”
Ruzzle is an addictive, fast-paced puzzle game that challenges players to compete to find as many words as possible from a given set of letters on a four by four grid in two minutes by sliding a finger from letter to letter. Simple to learn but fiendishly difficult to master, Ruzzle can be played in 13 different languages and is available for free on iOS, Android, Windows Phone, Amazon Kindle and Blackberry platforms.
About MAG Interactive
MAG Interactive started app development for third parties the day Apple’s App Store opened. After several years refining its services as a leading third party developer for other companies, in 2011 MAG Interactive embarked on developing its own apps, launching its first game, Ruzzle, in March 2012. It became an immediate success and has been in the top ten list in 148 countries.
Located in Stockholm, Sweden, the company is recruiting new, talented staff while maintaining the creative culture that has led to its huge commercial success.
About Nokia Growth Partners (NGP)
Nokia Growth Partners invests in companies that are changing the face of mobility, communications and the internet. NGP offers industry expertise, capital and an extensive network, enabling entrepreneurs to build disruptive, industry-changing companies and take them to the global market. With offices in the US, Europe, India and China, NGP extends the reach of companies making their products and services local everywhere. Visit www.nokiagrowthpartners.com for more information.