Yodo1 raises $11 million in Series B financing for expansion of global publishing efforts
Mobile games publisher Yodo1 has raised $11 million in Series B financing for the expansion of its global publishing efforts. The round was led by GGV Capital, and was joined by Singtel Innov8, Pavillion Capital and Iris Capital. This round takes Yodo1’s total funding to $18 million since its formation in 2011.
Yodo1 announced an expansion of its publishing business in August, led by BonusXP’s Cavemania [pictured]. In addition to continuing to publish Western games in China, this funding will help the company focus on Japan and Korea, the No. 1 and No. 2 countries for Google Play mobile revenue, respectively.
As part of this expansion, Yodo1 has announced the formation of a new production studio in Seoul to extend its cooperative development and publishing model into the Korean market.
The publisher’s co-development platform sees Yodo1 helping studios design their games for foreign markets, overcoming language and cultural barriers. The publisher also helps developers optimize their games’ monetization streams and helps in the app store submission process and marketing of apps before and after release.
“Our games studio partners have been quick to embrace our co-development model and have grown with us to reach an active user base of more than 90 million mobile gamers in China, up 750% from 2012,” said Yodo1 co-founder and CEO Henry Fong, in a statement. “Now we’re ready to tackle the world with globally-tuned investors and developers who are eager to expand with us into new markets.”