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Venture Capital News: HitPoint Raises $2M

2015-01-13
SPRINGFIELD, MA, Game developer HitPoint has raised a 2 million dollar package to pivot around a social store-front publishing platform for mobile devices and smart TVs.
Massachusetts-based game developer HitPoint has raised a 2 million dollar package to pivot around a social store-front publishing platform for mobile devices and smart TVs. Led by Springfield Venture Fund, the round included River Valley Investors and several independent angel investors.

'This investment allows us to double down on the growth of our existing titles and leverage our background to build something that we think will be disruptive,' said CEO Aaron St. John. 'The basic concept is Steam for episodic adventure games, we'll be delivering great content from the download market broken up into short episodes for easier consumption with a social and free-to-play layer designed to augment the games rather than take away from them.'

Developers of Microsoft's hit episodic puzzle adventure series Adera, HitPoint seeks to leverage the formula for monetizing episodic games that was used to make Adera one of the top-selling titles in the Microsoft store and bring it to any story-based, puzzle adventure game.

HitPoint's platform will be targeting a predominantly female demographic and will be focusing on delivering premium puzzle adventure content at launch, followed by a regular stream of original games. Launch titles will include several from HitPoint's own catalog of hit games as well as some blockbuster titles from prominent to-be-announced partners.

'As casual download portals have declined, our platform is a great way for developers with great download content to generate a new revenue stream from titles that have been been languishing on declining channels,' said Paul Hake, COO of HitPoint. 'Our monetization strategy converts a piece of content that would typically be purchased once for ten to twenty bucks on a download portal to content that generates endless free-to-play style revenue. It's going to breathe a lot of life into these titles dollars-wise.'

HitPoint's platform will be launched late in 2015 on Kindle Fire, closely followed by launches on iOS and Android devices.

About HitPoint

HitPoint is an independent developer and publisher of casual, social and mobile games successful in developing and managing live operations for a wide range of casual titles with partners including Microsoft, Disney, Dreamworks, EA, DeNA and many others.
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