Digital Chocolate Raises $12 Million In Series D

Millionaire City developer Digital Chocolate announced that it's raised $12 million in a new financing round, which it plans to put toward expanding its scale and reach.
Millionaire City developer Digital Chocolate announced that it's raised $12 million in a Series D round of financing led by Intel Capital, with previous backers Sutter Hill Ventures and Bridgescale Partners also participating. This latest investment brings the casual and social gaming company's total funding raised to at least $43.9 million since opening shop in 2003. Last June, the company also received a "multi-million dollar" revolving line of credit from Bridge Capital Holding for "general corporate purposes". Digital Chocolate says it plans to devote the new capital to further expanding its scale, cross-platform capabilities, and geographic reach. Currently employing 400 workers, the firm is headquartered in San Mateo and has branches in Helsinki, Barcelona, Bangalore, and Mexico. The company has released over 100 titles across various platforms, working with some 200 web and mobile channel partners in 80 countries. It has around 17.6 million total monthly active users on Facebook, most of which are playing Millionaire City (12.2 million monthly players), according to AppData. "The investment from Intel Capital supports our vision of publishing leading social games across different devices and platforms," says Digital Chocolate founder and CEO Trip Hawkins, who also previously established Electronic Arts and 3DO. Hawkins continues, "The strength of our team, combined with the strategic insight and support from Intel Capital and existing investors, will help extend our leadership in the evolving social gaming market."

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