Video game developer Outplay has unveiled plans to create more than 120 jobs over the next three years after securing £2.5 million in funding from Pentech Ventures and the Scottish Investment Bank.
The Dundee-based firm, which develops games for smartphones, tablets and websites such as Facebook, said the cash injection would help it meet its target of reaching one million daily users by the end of next year. It estimated that 98 per cent of its sales will come from overseas markets by 2014.
Outplay was formed two years ago by brothers Douglas and Richard Hare, who previously set up California-based development studio The Collective, which created titles for computers and games consoles based on the Indiana Jones and Star Wars franchises.
The firm focuses on the mobile and social gaming market, which is worth an estimated £1.7 billion a year, forecast to grow to more than £6.8bn by 2015.
Chief executive Douglas Hare said: “Although the mobile and social gaming sector is growing at an extraordinary rate, and presents an incredible opportunity to companies like ours, it’s also an incredibly competitive environment, so it’s fantastic to have the continued support of Pentech and the Scottish Investment Bank.”
Scottish Investment Bank acting director Kerry Sharp said: “We are focused on supporting companies like Outplay in high-growth areas like digital media and interactive software, where Scottish companies demonstrate a leading edge.”