Helsinki-based gaming startup Social First, which creates rich social multiplayer and MMO games, has raised $4.2 million in a seed funding round to further develop its first product. The investment came from Crowberry Capital and Play Ventures.
- Founded in 2021 by Kim Soares and Mikko Kähärä, Social First focuses on creating rich social multiplayer and MMO games with true cross-platform gameplay, engaging in player-driven economies, and providing long-lasting content and features.
- The startup employs a team of 20, consisting of industry veterans experienced in cross-platform social MMO development, and a dedicated core audience.
“Games are fast becoming leading social platforms and for many in the younger generations they are indeed that already. We are not just developing a social game, we are creating a game that is also going to be the most important social platform for millions of players, where they can create meaningful relationships," CEO of Social First, Kim Soares, stated.
- The investment was led by Crowberry Capital, an Iceland-based venture capital firm that invests in seed and early-stage startups across the Nordics. Crowberry Capital's portfolio includes 30 startups, with investment sizes ranging from €200,000 to €2 million
“We are incredibly impressed with the Social First team’s extensive experience and professionalism. Their early release numbers have shown enviable traction, reflecting their deep understanding of social games. We are excited to back them through their early launch and look forward to seeing them redefine the social gaming landscape," Founding Partner at Crowberry Capital, Hekla Arnardóttir, commented.
- The fresh funding also saw participation from Play Ventures invests globally in pre-seed and seed stage gaming startups, focusing on free-to-play, play-and-earn mobile and PC opportunities, and gaming services startups. Business Finland, a Finnish government organization, also joined the round.
- The new funding will allow Social First to advance its first product, which has already received outstanding feedback from thousands of early playtesters, exhibiting excellent retention and engagement metrics both in-game and on social media. The game's name will be announced later this year for early access.
