Richard Garriott's mobile gaming venture Portalarium secures $7 million in VC funding
Money, money, money
Richard "Lord British" Garriott's (relatively) new video game development and publishing company Portalarium has just secured $7 million in venture capital funding.
Portalarium will invest the VC funds in two brand-new games for Facebook, web browsers, and mobile platforms.
The first of these new titles to hit the shelves will be Ultimate Collector, which centres on hunting and selling virtual collectibles. Ultimate Collector is scheduled to drop later this summer on Facebook, browsers, and mobile platforms.
The second of Portalarium's new titles will be Ultimate RPG / New Britannia (working title), which, according to Garriott himself, is "the spiritual successor of the Ultima series". This in-development MMORPG will feature asynchronous gameplay and social profiles.
"This is an important step for the growth of our company," Garriott said. "We are grateful for the confidence m8 Capital and Founders Fund have placed in our team and we believe gamers will ultimately reap the benefits from this partnership when they get a chance to play Ultimate Collector and see the unique mobile and social games that we are creating at Portalarium."
Business Wire [via Joystiq]