German browser-based online game developer and publisher InnoGames has raised a round of financing led by Fidelity Growth Partners Europe (FGPE) -- funds that the studio will put toward expanding globally (it already has a subsidiary in South Korea).
Founded in 2007, InnoGames has three titles --
Tribal Wars,
The West, and
Grepolis -- which attract more than 50 million registered players around the world. Though its games are free-to-play, they allow users to purchase virtual goods and in-game advantages.
FGPE, a pan-European venture and growth equity investor, says it's formed a "strategic partnership" with InnoGames and has taken a minority stake in the developer. The firm's Davor Habel will join InnoGames's supervisory board, providing counsel and access to FGPE's resources.
Though neither company disclosed the specific terms of their agreement, InnoGames says the deal is in the "double digit millions",
according to a report from VC news site VentureBeat. The game studio's three co-founders Eike Klindworth, Hendrik Klindworth, and Michael Zillmer will continue to manage the company.
"FGPE's investment - both in capital and serving as close consultant and advisor - will enable us to take the company forward at a faster pace", says InnoGames co-founder and managing director Hendrik Klindworth. "The online gaming market is experiencing tremendous growth, and we intend to be one of the dominant players. The combination of our gaming know-how and FGPE's invaluable and wide-ranging experience will get us there."
