Ogmento, Inc, a developer and publisher of Augmented Reality games and entertainment applications, closed a $3.5m in Series A equity financing.
The round was led by Chart Venture Partners, with participation from CNF Investments and private investors.
The company will use the funds to expand the development team and the core features of its game platform in New York and Los Angeles as it prepares the release of several game titles in the coming year. Ogmento is currently producing games in collaboration with leading media, CPG, and sports enterprises.
Commenting on the financing, Ori Inbar, co-founder and CEO of the company, said: “This investment allows us to expand our operations to support our growth while putting development resources into our own intellectual property”.
In conjunction with the round, Matthew McCooe of Chart Venture Partners and Joe Del Guercio of CNF will join Ogmento’s board of directors, along with founders Brad Foxhoven, Brian Selzer, and Inbar.
Cole Van Nice, a partner with Chart, will also join the company’s management team directly as COO to help drive strategic planning.
Founded in 2009 by industry veterans, the company has already developed applications for Penguin Publishing, SAP, Orange Telecom, Smith and Nephew, and PBS.
FinSMEs
26/05/2010