Dundee’s Outplay Entertainment has raised a new round of institutional investment worth $5M.
Oxford Capital led the new investment, joining Pentech Ventures and the Scottish Investment Bank, which backed the company from its foundation and joined the most recent round of finance.
Outplay will use the new investment to invest in the people and resources required to deliver a “full pipeline of planned global releases”.
Founded in 2011, Outplay was created by industry veterans Douglas and Richard Hare, who previously created development studios The Collective and Foundation 9 Entertainment.
The company creates casual, social and mobile titles, across platforms including Facebook, Apple’s iOS and Google’s Android. The company’s titles to date include Bubble Blaze, Booty Quest, and Monster Legacy, a title which was selected by Apple’s App Store to be featured as ‘Editors’ Choice’ in 49 countries including the US and the UK on its launch date in March 2014.
Martyn Holman, Investment Director at Oxford Capital said:
We are truly excited to be increasing our exposure to this rapidly evolving market space. We have for some time been seeking an appropriate opportunity to invest in the segment, but in a market with such a diversity of consumer choice it has taken a company of truly differentiated capability for us to commit. Outplay has built an impressive portfolio of increasingly higher quality, commercially successful games. They have made significant breakthroughs in a crowded market space by building on each prior success. The company’s management team has an outstanding track record and we believe it has the vision and skill to become a significant player in the global games market.
Douglas Hare, Co-founder and CEO of Outplay told us:
We are delighted to be partnering with Oxford Capital in this next stage of our company’s journey. Oxford Capital has already demonstrated some great insights into our business as part of the investment process. Adding their sector and function specific experience to our talented board will help us to significantly enhance our strategy and reach.
The global games market is at an exciting point for any new investor. Market growth is accelerating, consumers are proliferating, device capability exploding, and in-game monetisation opportunities are following in lock step. We look forward to embracing future opportunities with Oxford Capital on board.
Congratulations to Doug, Richard and the whole Outplay team.