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Online Game Developer Nival Network to Raise $5 Million

Files under: News, Web 2.0
Posted by: Quintura @ 04:38 [24. 11. 09]

Online game developer Nival Network is closing $5 million round from an undisclosed investor, revealed Sergey Orlovskiy, founder and CEO of Nival Group to Vedomosti newspaper. Nival Network is going to invest the funds into development of Prime World, online strategy game with social networking elements.

Formed in September 2008, Nival Network develops, publishes and operates free-to-play online games in Russia and former Soviet countries. The company has game development studios in Moscow and Minsk. Nival Network is currently majority owned by Sergey Orlovskiy. Software vendor 1C Group owns a 30% stake in Nival Network.

Nival operates a leading Russian online gaming and social networking portal ZZima. The company’s game portfolio includes such MMORPG titles as Dragonica; Shaiya: Light and Darkness; Cabal Online, multiplayer racer Level-R, browser-based strategy offering Khan Wars 2.0 and music game RockFree.

The Russian online game market is valued at $238 million in 2009, of which MMOGs account for $210 million and casual games account for $28 million.

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