PEI’s icejam Picks Up $3 Million Investment
CHARLOTTETOWN– The mobile games company icejam today announced it raised $3 million in seed funding from investors, led by Halifax-based venture capital firm Build Ventures. Patrick Keefe, general partner at Build Ventures, will joins icejam’s board of directors.
The PEI-based company says its Playable Data™ platform integrates real-time, real-world data streams into mobile games to enhance gameplay. That helps games keep players engaged and coming back for more. Playable Data will be the backbone of the company’s games, the first of which will be released later this year.
“While the traditional mobile games market is consolidating and investments are down, there remains great interest in transformative technologies that play with the boundaries of imagination and reality. Today we see this with happening with investments in AR, VR, and now Playable Data,” said Stuart Duncan, the founder and CEO of icejam.
“While AR and VR might be a consumer proposition someday, Playable Data is here now. And it’s great.”
With this funding in place, icejam will continue to build out its platform, launch its first game and open a new Toronto location to focus on business intelligence and marketing.
“icejam is aggressively hiring now in both locations. We need to grow our team of developers, marketing and business intelligence staff over the next six months as we prepare for the launch of our first game,” said Wayne Seifried, the company’s chief marketing officer.