Richard Garriott’s Portalarium closes $7M Series A round of financing

Austin-based Portalarium, a mobile and social game company co-founded by renowned game designer Richard Garriott de Cayeux, announced today that it closed a $7 million round of series A financing. London-based VC fund m8 Capital, which focuses on mobile technology investments, led the round. FF Angel of San Francisco, BHV Venture Capital of New York, and Garriott himself also participated in the round.

Portalarium plans on investing the proceeds in the final development stages of its first feature product, Ultimate Collector, scheduled for release this summer on Facebook, browser and mobile platforms.

Funding from the Series A round will also be used to launch production of Garriott’s role-playing game, Ultimate RPG (working title), scheduled for release primarily on mobile platforms.

This Series A funding follows the June 26 announcement by Zynga that Portalarium will join the new Zynga Platform Partners program. Konami, Rebellion and Playdemic are some of the other participants in the program which offers partners 70 percent of whatever is leftover after Facebook takes its 30 percent cut of Credits transactions.