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Brazilian Social Game Dev Vostu Raises $30M

Brazilian Social Game Dev Vostu Raises $30M

November 29, 2010 | By Eric Caoili

November 29, 2010 | By Eric Caoili
More: Console/PC

Brazilian developer Vostu, best known for its releases on locally popular Google-owned social network Orkut, has raised $30 million from Accel Partners and Tiger Global Management.

Both of the developer's new investors have shown interest in social game companies in the past -- Accel previously backed Playfish before its acquisition by Electronic Arts for as much as $300 million last year, while Tiger has injected cash into FarmVille developer Zynga.

This round of funding, which was advised by investment firm Allen & Co., brings the total amount Vostu's raised in the past six months to some $50 million. The company intends to devote this new financing to further expanding its operations in Brazil. It currently has around 220 employees.

Launched in 2007, Vostu is headquartered in New York City and has offices in Sao Paulo and Buenos Aires. It initially launched as a social network but shifted its focus last year to creating social games for Orkut, which has a sizable audience in Latin America despite its lack of popularity in the U.S.

The firm's releases include MiniFazenda (a virtual farm simulator similar to FarmVille), Vostu Poker, Pet Mania, Cafe Mania, and most recently Rede Do Crime. As of September 2009, its catalog has attracted a total of 20 million monthly active users.

"Vostu is profitable and well-capitalized and continues to grow at an extraordinary pace," says Vostu's CEO and co-founder Daniel Kafie according to a report from The Wall Street Journal.

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