Wooga gets $24m funding

Wooga, the Berlin-based social games company whose name stands for “world of gaming”, has secured $24 million (£15 million) in a second-round of funding, says The Telegraph.

The funding was led by Highland Capital Partners, Tenaya Capital and existing investors Balderton Capital and HV Holtzbrinck Ventures also participated.

The group and its investors declined to provide detail on what the new investment valued the company at, but said the money will be used to accelerate growth and to develop new games.

According to Channel News, the funding is set to be used to turbo-charge Wooga's production of new social games.

Wooga has doubled its user-base in 2011 from 14 million to 30 million monthly active users and has overtaken five US-based competitors to become number three on the Facebook platform.

Two years ago, it unveiled its first free-to-play brain training game, Brain Buddies, with a small team of five and has now grown to become an international team with 85 people from 20 countries in Berlin.

The company's titles include Monster World, Diamond Dash and Bubble Island, writes Forbes.

Wooga has three game titles in the top 20 Facebook games - the only developer besides Zynga to do that. The company is the fourth largest developer by monthly active users, behind Zynga, Mensing and Electronic Arts, according to Appdata. That's up from number five in March.