Finnish games studio Small Giant raises $41 million in fresh funding

Helsinki-based gaming company Small Giant Games has raised $41 million led by EQT Ventures with participation from Creandum, Spintop Ventures, and PROfounders.

The company will use the new funds to expand its developer and graphic design team with a view to reaching international markets with its Empires & Puzzle RPG game and forthcoming titles.

Empire & Puzzles generated revenues of $33 million in 2017 with 10 million players globally.

“This latest round of investment will enable us to continue innovation, actively target new markets and leverage the game’s successful framework for future games,” said CEO Timo Soininen. “The secondaries were also a way for us to reward the whole team and continue building a global success story.”

Small Giant has garnered traction with its titles, added Lars Jörnow, partner and investment advisor to EQT Ventures: “The strong, data-driven entrepreneurial team had a clear vision of what it wanted to achieve and it’s delivering on that.”

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