iPhone Developer Ngmoco Gets Google Ventures Backing

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Ngmoco, the games developer focused on iPhone platform and venture-backed by the iFund, has gotten some unspecified funding from Google (NSDQ: GOOG) Ventures, TechCrunch reports, citing unidentified sources. The capital comes just several months after the San Francisco company raised a significant $25 million third round.

TechCrunch estimates that although ngmoco is profitable, it is looking to raise between $3- and $5 million in this most recent round.

It’s not clear what Google Ventures intent is by making the investment, but it would make sense to speculate that it could involve getting Ngmoco to expand its focus to Google’s Android system, despite the repeated insistence that Google Ventures’ investment decisions are not connected to Google’s daily business interests.

In any case, the company is in a good position right now and is an attractive startup for investors. The two year-old ngmoco founded by former EA-er Neil Young had success in 2009 with games such as Rolando 2 and Star Defense.

Previously, Ngmoco used venture capital to make acquisitions, including the purchase of Freeverse and Stumptown Game Machine. In June, we talked to Young while in San Francisco following the release of the iPhone 4. He said it was “important to be a leader in the space,” and that they would raise more money if they needed to purchase of strategic assets. At the time, the company had roughly 100 employees.

He said they remained focused on the iPhone, but that Android and others were making good progress. Particuarly, his reluctance on Android had to do mostly with the Android Market, which is less advanced than the App Store, “and the App Store is really bad,” he said. His big concern with the Android Market was that it still didn’t support in-app purchasing, which makes it more difficult for Ngmoco’s business model (giving away games for free and relying on virtual goods and advertising).

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