Japanese gaming company Gumi raises $50M, partners with Sega Networks for US...

Japanese gaming company Gumi raises $50M, partners with Sega Networks for US market

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hironao-kunimitsu
Gumi CEO Hironao Kunimitsu

See the original story in Japanese.

Japanese newspaper Nikkei reported earlier today that Tokyo-based gaming coompany Gumi has funrraised 5 billion yen (approximately $49 million) from Silicon Valley-based investment firm WiL (World Innovation Lab) and other investors. The report says the funding will be completed on July 4th, and Sega Networks, which participated in this round, partnered with Gumi to market service the service in the US.

In addition, Alim, the Gumi subsidiary co-founded with Gumi Ventures, Fuji Startup Ventures, and B Dash Ventures, surpassed 1 billion yen ($98 million) in sales as of April 2014, which their smash-hit gaming title Brave Frontier has contributed to.

Since its launch back in June 2007, Gumi fundraised about 4.6 billion yen ($45 million) in the past rounds. CEO Hironao Kushimitsu unveiled at a recent conference in Singapore that the company has 650 employees and is preparing for an IPO by the end of this year.