Ngmoco Raises Venture Capital Funding

Neil Young’s iPhone gaming startup, ngmoco, has received Series A funding from Kleiner Perkins Caufield & Byers’s iFund. The iFund was announced by Steve Jobs as a $100 million pool of venture capital funding available to select startup iPhone developers. This represents the first iPhone gaming company to be funded by the initiative.

Neil Young was a former EA executive who decided to start a new gaming company focused on the iPhone.

“The iPhone is the next great game platform and we see an incredible opportunity to build games worthy of the customers that use it," said Neil Young, CEO, ngmoco. “With Bing, Kleiner Perkins and Maples Investments, we have great partners who share our passion to create a new type of publisher and radically reshape the mobile games industry."

The amount of capital raised was not disclosed, but Venture Capital funding indicates that the firm believes that Young’s venture has significant financial potential.