Game Insight secures $25 million to expand internationally; founder Alisa Chumachenko among world’s top 5 startup women
Game Insight, a leading Russian mobile game publisher operating globally, announced last week that it raised $25 million from In Mobile Investment (IMI.VC), a Moscow-based venture fund established in 2011. The financial terms of the deal, which follows several smaller investments from IMI.VC over the past two years, have not been disclosed.
“Game Insight has a clear strategy of development for the international mobile market and has all the necessary resources to execute it,” commented IMI.VC’s founder Igor Matsanyuk.
Following the capital injection, the company will broaden its development resources to “expand globally into emerging markets,” the Russian company stated. With more than 10 development studios, Game Insight also intends to further develop its production pipeline and “extend marketing activities for current and upcoming projects.”
Game Insight was founded in Moscow less than three years ago. Among its greatest hits so far has been Paradise Island, a high-definition, role-simulation game where players turn lovely sun, sea and beaches into a flourishing resort business. Gamers entertain rich tourists in casinos and entertainment centers, build hotels, restaurants and discos and learn to manage their own business.
Since its release in December 2010, Paradise Island has generated up to $1 million in revenues every month for Game Insight.
Last week also saw Game Insight’s founder and CEO Alisa Chumachenko being named among The Huffington Post’s “5 [female] startup founders to watch.”
Not only did the The Huffington Post’s “Women in Tech” blog praise Chumachenko’s business successes, including Game Insight’s reported $50 million revenue in 2011, it also praised the company’s mostly female leadership. “Best of all, out of the company’s five leaders, four are women: Chumachenko herself, COO Olga Skvortsova, VP of business development Darya Trushkina, and marketing executive Alexandra Pestretsova,” the Huffington Post noted.