Social First raises $4.2M seed funding to redefine social gaming

Social First :

Helsinki, August 2024

Finnish game studio Social First was founded in late 2021 by industry veterans Kim Soares and Mikko Kähärä to redefine social gaming with a new kind of a cross-platform social MMO. The $4.2 million seed round was led by Crowberry Capital with original pre-seed investor Play Ventures also investing in the round. Part of the funding comes from Business Finland, a Finnish governmental organisation for innovation funding.

“Games are fast becoming leading social platforms and for many in the younger generations they are indeed that already. We are not just developing a social game, we are creating a game that is also going to be the most important social platform for millions of players, where they can create meaningful relationships” explains CEO Kim Soares.

The seed funding enables accelerated development of the company’s upcoming game. The unnamed title has already seen outstanding early playtesting results by thousands of players with excellent retention and engagement metrics both in-game and across social media. The title is slated for Early Access release later this year.

Crowberry Capital Founding Partner Hekla Arnardóttir says: “We are incredibly impressed with the Social First team’s extensive experience and professionalism. Their early release numbers have shown enviable traction, reflecting their deep understanding of social games. We are excited to back them through their early launch and look forward to seeing them redefine the social gaming landscape.”

The company has continued to grow steadily, with their most recent hires bringing them to a 20-strong team of industry veterans from studios like Ubisoft, Rovio and Paradox Interactive. The Social First team is highly experienced in developing and managing cross-platform social MMOs, with a tried and tested growth playbook for scaling, and a dedicated core audience.

“We’re excited to continue our backing for Social First. Games are inherently social, and gaming is becoming essential in people’s everyday social lives. Social First’s team has extremely ambitious goals for their game, and they have already built an enthusiastic community around their early playtests with amazing results”, says Play Ventures Founding Partner Harri Manninen

The Social First team will be attending Gamescom on 21st-25th August 2024 in Cologne. If you are interested in arranging a meeting, you can get in touch with the team at [email protected]. 

About Social First

Social First is an independent Finnish game studio with a multinational team of accomplished game developers from five different European countries. CEO Kim Soares and President Mikko Kähärä founded Social First in 2021 with the mission to create a game that is also a social platform, spans decades and extends beyond gaming; giving players a platform to create meaningful relationships with people all across the world. For more information on Social First and their work, please contact Sophie Riordan, PR & Communications, at [email protected]. For their press kit, click here.

About Crowberry

Crowberry Capital is a Nordic venture capital firm that invests in seed and early-stage startups across the Nordics. With a focus on innovative startups, Crowberry Capital leverages its extensive network and deep industry expertise to support visionary entrepreneurs. Their mission is to back people that are good for companies and build companies that are good for people.  Visit their website for more information.

About Play Ventures

Play Ventures is the leading early stage gaming venture capital firm with offices in Singapore and Helsinki, Finland. Founded by gaming industry veterans Henric Suuronen and Harri Manninen, who have made successful exits to King and Disney respectively, Play Ventures invests globally in pre-seed and seed stage gaming startups and focuses on free-to-play, and play-and-earn mobile and PC opportunities, as well as gaming services startups. For more information, please visit www.playventures.vc