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Thursday, Mar 28, 2024

Software Firm Receives New Funding Round

Videogame software developer Emergent Game Technologies received $12.5 million in funding from five venture capital firms. Calabasas-based Emergent develops software used in creating video games for Playstation 3, Xbox 360 and Wii consoles. The software helps in reducing development time, frees up engineering resources and increases efficiency. Hopewell Ventures, a new investor, led the round that also included Worldview Technology Partners, Jerusalem Venture Partners, Walker Ventures and Adena Ventures. Hopewell invested in Emergent because its software can be used across all game budgets, genres and platforms, said Thomas Parkinson, a partner at the firm. “The market for middleware keeps expanding, as innovation and consumer expectations grow,” Parkinson said “Everyone is looking for ways to minimize risk without compromising quality.”

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