CMON Limited, which produces games under the CoolMiniOrNot brand, has raised $5.3 million in Series A financing, the company announced today. The investment comes from a fund of Quantum Asset Management, a Singapore company that manages funds specializing in pre-IPO investments in Asia high-growth companies.
Series A financing is typically the first investment from outside professional investors, when the company has outgrown its seed financing and needs additional funds to grow. CMON has aggressively used Kickstarter as a financing tool; it’s raised over $20 million in Kickstarter projects and has three of the Top 10 Tabletop Game Kickstarters of all time (see “Top 10 Tabletop Game Kickstarters”).
CMON CEO Chern Ann Ng emphasized the new growth opportunities the financing brings. “This capital gives us the ability to expand quickly by bringing in more talent, acquire established titles from other publishers, as well as pursuing licenses that have mass market appeal,” he said.
CMON recently acquired U.S. distribution rights for Krosmaster (see “’Krosmaster’ Moves to CMON in 2016”).