FEB. 8, 2011 • Independent U.K. studio Jagex, creator of the hit MMO Runescape, sealed new agreements with venture capital firms to help fund upcoming projects. Investments came in from three VC groups: Insight Venture Partners, Spectrum Equity Investors and The Raine Group. Cash and equity terms were not announced.
Impact: Runescape was a huge hit for Jagex but the product is showing its age. The amazing thing Runescape accomplished was building a browser based free-to-play model and getting over one million customers to upgrade to a monthly subscription. That is clearly an impressive early market mover advantage that should make Jagex ripe for attracting funding.