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Summary:

Rovio, the Finnish company behind the hit Angry Birds game has raised $42 million in venture funding to grow the business into different directions. Investors in the company include Accel Partners, Atomico and Felicis Ventures. Angry Birds maker hopes to become a many-media brand.

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We’d heard Rovio, the company behind the Angry Birds game franchise, was out in the market looking for cash, but never did we think that it would end up raising $42 million in Series A funding from Accel Partners and Atomico, the venture fund started by Skype’s co-founders. Leading super angel fund Felicis Ventures also participated. Niklas Zennström, who also co-founded Kazaa and Rdio, will be joining the board of Rovio.

The Rovio team met with me last year and talked about being wooed by many investors, including Hollywood groups. It’s good they held out; their valuation has only gone up in the time that has passed. The company, which has been raking in the big dollars for a long time, thanks to its cult hit game, Angry Birds, has plans to turn the game into a multi-channel franchise, hoping to become the Sponge Bob of the iPhone generation. The game currently has 40 million active users on various mobile platforms, and Rovio claims it has sold over 2 million plush Angry Birds toys. Clearly, as it expands to new channels, it’s going to need more money.

And while it still remains addictive as ever, the Angry Birds are finding that they have more competition in the market. Hopefully, the new money will help the Finnish company find yet another hit franchise. Watch this video to see the company CEO and the Mighty Eagle tell the Angry Birds story and outline their grand ambitions.

Video edited and produced by Chris Albrecht.

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  1. *snigger* those two guys look like birds. This time just they aren’t angry ^___^ YOU’RE BIRDS!

  2. Angry Birds is really well thought concept…

  3. Olmo – Electric Car iPhone Thursday, March 10, 2011

    very surprising… I never thought this was possible. I love the game, I’m very anxious to see what’s coming next.

  4. This will just passed out… Sorry but I think Angry birds is just overrated if they can just filter out those users who subscribe and then stop using it then it would lessen the numbers. Right now I’m still waiting for the touch game that “never bores”

  5. all this hype and I STILL don’t know what Angry Birds is.

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