Northgate Capital Leads Investment Round with Participation from DFJ and Returning Investor Sequoia Capital in Leading Mobile Developer
PALO ALTO, Calif. – Aug. 6, 2014 – Mobile game developer Kiwi, Inc. today announced that it has closed $15 million in Series B financing, led by Northgate Capital with participation from DFJ and returning investor Sequoia Capital. The Series B brings the total amount raised by Kiwi to $21 million. Kiwi has emerged as a top developer on Google Play, and the company will use the funding to invest in its next generation of cross-platform, AAA mobile titles while continuing to improve distribution and monetization practices that affect the entire mobile ecosystem.
“Our early focus in the rapidly growing Android ecosystem has allowed us to build top free-to-play mobile games on Google Play and develop tools that we are making available broadly to benefit all developers,” said Omar Siddiqui, CEO of Kiwi. “This new funding round will help us to bring these tools to market as we also invest in the next generation of our cross-platform, AAA mobile titles.”
The core of Kiwi’s executive team has worked together building free-to-play games since 2007, initially as the leaders of independent game developer Trippert Labs and subsequently at Playdom and Disney as a result of acquisition. After building Disney Playdom’s largest studio and producing blockbuster and critically acclaimed Facebook hit Gardens of Time, the team founded Kiwi to capitalize on the rapid growth of mobile platforms with an initial focus on the emerging Android marketplace.
“Kiwi has a vision for producing killer content while improving the mobile platform for all developers, and the talent and experience to make it a reality,” said Brent Jones, Managing Director of Northgate. “The next generation of gaming megahits is going to be on mobile, and there are few companies with the experience and opportunity to dramatically change the industry – Kiwi is one of them.”
Kiwi is one of only a handful of developers to have multiple Top 100 Grossing games on the Google Play charts, and has achieved five games in the Top 25 Grossing on Google Play. The company was also a pilot member of Facebook’s mobile publishing initiative, and one of the first western developers to partner with Korea’s leading social platform KakaoTalk in 2013. “We’re thrilled with what Kiwi has accomplished to date, and we’re looking forward to watching Omar and his team continue to advance Android as a platform,” said Bubba Murarka, Partner at DFJ.
This most recent $15 million round includes conversion of a previously issued $3 million convertible note, and follows a $6 million Series A led by Sequoia Capital.
For more information about Kiwi, visit: www.kiwiup.com
About Kiwi, Inc.
Kiwi is a mobile entertainment company dedicated to building a AAA studio with the world’s best free-to-play games. Founded in August 2011 and headquartered in Palo Alto, the 150+ person company has been one of the most successful on the Android platform, and it is now building the next generation of blockbuster cross-platform mobile titles. Kiwi is a Top Developer on Google Play, also achieving five games in the Top 25 Grossing. Kiwi has raised a total of $21 million in funding and is backed by Sequoia Capital, Northgate Capital, and DFJ. For more information, visit: www.kiwiup.com
Tristan Kruth, TriplePoint