Ultima creator Richard Garriott has secured more funding for Portalarium, his social game developer started back in 2010. This second round of funding has seen the addition of a new investor, m8 Capital based out of the U.K. Portalarium is set on delivering “premium quality games for social networks,” and looks to use the new cash injection to launch their latest title in the coming months.
“We are delighted to join Richard Garriott and the Portalarium team in creating the next great gaming company. Richard is one of the giants of the industry. He's a proven entrepreneur and has been a driving force at each of the industry’s major turning points,” said Joseph Kim, general partner of m8 Capital. “Richard’s vision for the future of mobile and social gaming will result in a new generation of ground-breaking games.”
“Founders Fund is extremely pleased to continue its support for Portalarium,” said the venture firm’s Brian Singerman. “Starting new companies and transforming them into extraordinary successes is nothing new to Richard Garriott and his team and we expect Portalarium will continue their exceptional 30 year track record.”
Portalarium has had the opportunity to release two titles, Port Casino Poker and Port Casino Blackjack, both performing successfully over Facebook and hi5. Their newest title is set for release sometime this year, with details emerging later this summer.
“With m8 Capital and Founders Fund, we have the investment resources in place with two very key partners who are prepared to help us grow and scale our company to meet the opportunities found currently in social media and mobile platforms,” said Portalarium CEO Fred Schmidt. “m8 also provides an important international role as we shape our strategy for the European market while Founders Fund has been invaluable in keeping us solidly connected to the social media scene that has coalesced in the Bay Area."
“This round,” said Schmidt, “helps us to continue making the next generation of hit games in Austin, Texas, a hotbed of talent in the technical and creative industries which Richard and his team have helped nurture for the past 30 years and which is now finally gaining global recognition.”
