Harry Potter: Hogwarts Mystery makers Jam City raises $145M
By Callum Gunn
Weeks after the layoffs conducted by Harry Potter: Hogwarts Mystery makers Jam City. The mobile game developers have raised $145M.
Following layoffs in both December and May last year. Mobile game developers Jam City, who created mobile games Harry Potter: Hogwarts Mystery and Panda Pop, have raised $145 million for what will empower Jam City to further their position in the world.
Funding was secured from JPMorgan Chase Bank and Bank of America Merrill Lynch. There were also investments made from Silicon Valley Bank, SunTrust Bank, and CIT Bank, N.A.
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The new financing comes after the layoffs were made in December and May. In August last year, Jam City moved from their current location to Culver City into a much larger office. In November, they signed a new partnership of development with Disney and the game Bingo Pop was acquired by them from Ukon Games, a Toronto based studio.
Speaking about the new financing Jam City acquired, CEO and co-founder Chris DeWolfe said this would enable Jam City to further their current position in the world.
So what might this mean for Harry Potter: Hogwarts Mystery?
Well, it’s completely open for interpretation. Jam City has not made any commitments to any particular game. All they have committed to is growing their standing. But considering we’ve got two rounds of layoffs, a major move, and now a new round of financing. It’s not all cut and dry of what is coming.
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It could mean more and amazing content for Harry Potter: Hogwarts Mystery players is on the way. And considering Harry Potter: Wizards Unite is on the way at some point this year they could sure do with it.
But, again, there is nothing in sight. We will have to keep a close eye on everything. As soon as we know more we will let you know.
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What do you make of the new influx of cash to Jam City? Do you think this will mean big things for Harry Potter: Hogwarts Mystery this year? Drop a comment just below sharing your thoughts.