Social and mobile gaming company Game Insight has reportedly raised $25m in venture capital in a deal which values the Russia-based company at around $550m.
The investment was led by Russian venture capital firm IMI. VC, an investment company focused on innovative mobile applications. The investment follows two smaller rounds in 2010 and 2011.
Founded by Alisa Chumachenko in 2009, Game Insight was originally conceived as an investment company to help young teams to create, release, and market new social and mobile game applications. The company recently opened its new publishing branch, Game Insight Publishing, in San Francisco, California.
IMI. VC was founded in 2011 by internet entrepreneur Igor Matsanyuk. In October 2012 the firm raised $75m in funding from billionaire Michael Vinchel, co-founder of Mail. ru Group