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Wooga Raises $7.5 Million For Social Games, New Hires

Berlin-based social games company Wooga (Brain Buddies) raised €5 million ($7.5 million), which it will put toward expanding its 25-strong team and the development of its two upcoming titles.
Berlin-based social games developer Wooga announced that it raised €5 million (around $7.5 million) in a new round of funding led by Balderton Capital. As part of the funding deal, Roberto Bonanzinga, a partner at the European VC firm, joins Wooga's board of directors. Holtzbrinck Ventures, which previously invested an undisclosed amount into the developer last August, also participated in the funding round. Founded last January, Wooga (a contraction of “World of Gaming”) currently employs a staff of 25 scattered across nine countries. The start-up says it intends to devote this new financing to "hire new talent, continue to develop top quality games, and grow the company further." The developer released its first game, Brain Buddies, in July 2009 on Facebook, where it's currently one of the top 20 games on the social network with some six million monthly active users. It also has two new titles in "late-stage development" that are slated to release in the coming weeks. “We are proud to have Balderton, one of the world's leading investors in social media and gaming, as our new partner," says Wooga founder and CEO Jens Begemann. "We also welcome further funding from Holtzbrinck, which provides a vote of confidence in wooga and its future growth prospects." He adds, "Wooga focuses on offering a quality user experience that provides a safe, rewarding gaming experience. By providing true value in social gaming, we believe wooga can achieve sustained long-term growth. This investment will allow us to hire more talented people in the coming weeks and months.”

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