New York, NY– Rebel Monkey, Inc., a leading developer and publisher of casual and community games, has raised $1 million in a first round of financing from Redpoint Ventures of Menlo Park, CA.
Established in 2007, New York-based Rebel Monkey was co-founded by game industry luminaries Margaret Wallace, whose past ventures include Skunk Studios in San Francisco, and Nick Fortugno, who was notably Lead Designer of the original Diner Dash® game.
"Rebel Monkey is on the brink of becoming a powerhouse in the casual games industry," said Fouad ElNaggar, Principal with Redpoint Ventures. "Given Margaret and Nick's combined experience in business and design, they are positioning Rebel Monkey to be on the leading edge of connected casual gaming."
True to its reputation for remaining tight-lipped, the company is keeping its highly-anticipated product plans under wraps. The company has, however, publicly stated an interest in taking casual gaming to its next level by focusing new kinds of community-centric casual game experiences to attract and connect players. With a professed focus on "the evolution of casual games," Rebel Monkey will direct its funds to reach these casual gamers worldwide in new and exciting ways.
According to the Casual Games Association (CGA), the casual games industry generated $2.25 billion in worldwide revenue in 2007, with an expected increase of 20 percent in 2008. The CGA also reported over $35 million in investment towards massively multiplayer online (MMO) casual games for the same year.
"At Rebel Monkey, we have a passion for casual games and for delivering total entertainment experiences that are rich in character and community," said Margaret Wallace, Co-Founder and CEO of Rebel Monkey. "We are delighted to have the backing of Redpoint Ventures, who share our vision for where we can take the casual game industry in 2008 and beyond."
The Casual Games Association recently announced a casual game European event, taking place in Amsterdam from February 6-8, 2008, called Casual Connect Europe. At this conference, on February 7th, 2008 at 2:00 p.m., Margaret Wallace will be describing Rebel Monkey's experiences around raising venture financing during a presentation on financing led by Adeo Ressi, Founder of TheFunded.com.
For more information about Rebel Monkey, please visit www.rebelmonkey.com.
About Rebel Monkey, Inc.
Rebel Monkey, Inc. is a visionary start-up in New York City founded by Nicholas Fortugno and Margaret Wallace. The focus of Rebel Monkey is on creating the next generation of high quality casual games to entertain and entice audiences worldwide. For more information, visit www.rebelmonkey.com
About Redpoint Ventures
Redpoint Ventures is a leading venture capital firm focused on creating franchise and platform companies that will form the foundation of the next-generation and broadband Internet. Redpoint was founded in Fall 1999 by partners from two of California's top venture capital firms, Brentwood Venture Capital and Institutional Venture Partners, as a response to how the Internet was changing venture capital. Redpoint's mission is to redefine venture capital around the concept of the "Network Effect." The Network Effect applies the increasing returns model to the practiceof venture capital, making the network more valuable than the sum of its parts. The firm is based in Menlo Park, CA and can be found on the Internet at www.redpoint.com.
The Casual Games Association
Casual Games Association Events are the premiere events for the casual games industry with over 2,500 professionals attending Casual Connect Conferences each year. Casual Connect Europe brings together the most talented and knowledgeable experts in the casual gaming field to further the casual games industry with the best of networking and learning. For more information, please visit the Casual Games Association website ( www.casualgamesassociation.org) or the Casual Connect Europe website (amsterdam.casualconnect.org).
TheFunded.com is a community of leading entrepreneurs from around the world. TheFunded.com has become a "must read" site for leading start-up CEO's and venture capitalists worldwide. Founded by Adeo Ressi, TheFunded.com can be visited at www.thefunded.com.
Skunk Studios, Inc.
Skunk Studios, Inc. is a leading developer of highly popular casual games. Based in San Francisco, Skunk Studios formed in the summer of 2001 with one purpose -- to provide high quality games that exceed the expectations of gamers. For more information, please visit the Skunk Studios website at www.skunkstudios.com.