Start-up.ro reports that Amber Studio has raised $20 million from a London-based fund that finances Emona Capital LLP. After receiving the funds, the company is valued at $190 million. The studio will spend the investment to accelerate global growth through mergers and acquisitions.
Side note: ByteBrew has raised $4 million.
Part of the funds will be invested in the company’s internal infrastructure to enable further expansion. Dominik Dolenec, managing partner of Emona Capital, will become a member of Amber’s board of directors.
The company is excited to partner with Emona Capital and welcomes Dominik Dolenec to the board. After ten years of purely organic development, the studio is excited to enter a new phase. Emona Capital has a background in emerging markets that aligns with the company’s expansion thesis. We will continue to develop a shared vision of making Amber a global player that sets the industry standard.Jaime Giné, CEO of Amber
Founded in 2013 in Bucharest, the company is an agency structured as a network of studios with different specializations that offer a wide range of game development solutions: full production cycle, co-development, platform transformation, operations and support services.
Today the company has 1200 employees based in Bucharest, Botosani, Guadalajara, Montreal, Kyiv, Warsaw, San Francisco and Los Angeles.
The investment, combined with Amber’s own profits, will fund mergers, acquisitions and acquisitions of studios worldwide. This will give the company a presence in high-potential emerging markets.
In addition to entering new geographic regions, the aim of the expansion is to increase the range of services and bring out new specializations in game genres.
This is the beginning of a new chapter in Amber’s history. The company will expand its studio network to cover all genres and platforms while strengthening its studio service capabilities. At this large scale, the company realizes the vision of developing game development ecosystems worldwide through investment in community and innovation.Mihai Pohontu, chairman of Amber
Over the past five years, Amber’s revenues have grown at a compound annual growth rate of more than 50%. In 2021, the company reached a record turnover of $30 million, up 56% from the previous year.
The company received 70% of its revenue from game development projects, and the rest came from development support services: quality assurance, customer support, and localization.
Today the company works with global brands like Amazon, Disney, NBC Universal, Paradox Interactive, Rovio, That Game Company, N3twork and others. The studio is headquartered in Bucharest and has offices in Botosani, San Francisco, Los Angeles, Guadalajara, Montreal, Warsaw and Kyiv.