Mobile game producer Digital Chocolate has raised around $18.03 million in third round of funding, according to an SEC filing, picked up by PE Week Wire. Bridgescale Partners, Outlook Ventures and Montagu Newhall Associates were joined by return backers Kleiner Perkins Caufield & Byers, Sequoia Capital and Sutter Hill Ventures.
The company has raised around $40 million in total VC funding since its 2003 inception. Digital Chocolate is basing its future on founder Trip Hawkins’ belief that licensing brands hurts rather than helps mobile games…he claims DC now has 11% marketshare, although details of that figure are a bit sketchy. The company is expected to become profitable in the next year.
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