The business will use the additional capital to continue its growth, with a second game -Rival Kingdoms: Age of Ruin – set to launch globally on iOS and Android in May 2015.
Samurai Siege, Space Ape’s first game, has seen global success, with more than 11 million downloads and aggregate revenues of more than $23M since its launch in 2013. Rival Kingdoms will offer an accessible, high-quality experience for mid-core gamers on mobile platforms, with contributions from award-winning games writer Rhianna Pratchett (Tomb Raider) and composer Richard Jacques (Sonic 3D).
John Earner, CEO at Space Ape Games, said: “This financing will enable us to continue to grow the business and further invest in building a strong team. Working with Silicon Valley Bank isn’t just about financing, but about making the right connections. Space Ape Games is a game developer, but we are also a startup, looking for the best talent inside and outside the games industry. Silicon Valley Bank has been among our most supportive partners, and we’re excited about the years ahead.”
Erin Platts, Managing Director of Commercial Banking at Silicon Valley Bank, said: “The future of the gaming industry depends on innovative technology that can deepen the gaming experience. Space Ape Games plays an important role in disrupting this industry and we look forward to supporting their future success in the launch of their newest game, Rival Kingdoms.”
Joe Smart, Vice President at Silicon Valley Bank, added: “We are delighted to be supporting Space Ape Games with banking and financing as they continue to develop compelling gameplay experiences. The success of Samurai Siege is an early validation of the team’s strategy, with Rival Kingdoms set to build on that success, and we look forward to being a long-term partner as Space Ape Games continues to grow and create new games.”