iPhone Game Development Company Ngmoco Raises $10 Million In Funding

Ngmoco, the company behind Rolando, Wordfu, Topple, and several other iPhone games is taking their company to the next level by raising $10 million in funding.  The company has been around for about 9 months and this is their second round of funding.  The funding was led by Norwest Venture Partners.

This investment further proves that iPhone game development is a good way to go.  Ngmoco is based in San Francisco and was founded by former Electronic Arts executive Neil Young.  “Everything in this market happens so quickly,” stated Young. “The iPhone is really the first wave of new phones that have the same capability to play games as the handheld game systems have.”

Ngmoco’s previous round of funding was about $5 million from Kleiner Perkins Caufield & Byers along with Maple Investments.  The new round of funding will be used to expand Ngmoco’s premium games such as Rolando, which sells for $9.99.  Ngmoco has made five top 10 games for iTunes thus far.

[via VentureBeat]

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