WatAgame, a Danish developer and producer of cross-media communities, has gained a DKK 22 m (USD 4 m) investment from the US fund Accel Partners. The new capital will be used for product development and to expand its business into new countries. Seed Capital and Vækstfonden, a state supported venture company, have also invested in watAgame.
Heikki Makijarvi of Accel Partners says: "We know now that teenagers spend more time online than on any other media, and that many different web communities are fighting for loyal users."
WatAgame has created GoSupermodel, a girl's fashion community concept for web and mobile. It was created in 2005, and has been launched in Denmark, US, Germany, Holland and Norway. In Denmark, 40% of all girls in the age of 10-16 are reportedly active users of the site.
Henrik Riis, CEO of watAgame says: "GoSupermodel has grown rapidly without needing much marketing. Our community recently reached one million users and is quickly moving towards two million. With such strong growth, we decided to seek funding to consolidate our growth, hire new staff, develop new features and expand into new countries. We chose Accel because it's a strong investment firm with thorough community knowledge and strong international networks, especially in the US."
The news was reported by Business.dk.