eRepublik Labs today said it had finalized a first round of VC funding totaling $2.77 million. Leading the round was Paris-based AGF Private Equity. On its blog, the company says the funds will be used in three ways: to build out the existing 'massive online social strategy game' eRepublik, to staff up beyond its current headcount of 30, and to move forward in efforts to build out the eRepublik Labs game lineup.
eRepublik Labs previously was on the receiving end of $1 million in funding from AGF and several business angels, Venture Beat reported.
eRepublik, the game, is a hybrid MMO described as one that provides a Civilization-like playing experience — without the time sink or refined player skills required.
The game is set in a browser-based mirror world in which players participate in loal politics, set economic policy, start and run businesses, and even participate in wars with other countries if they desire.
The game — which Eurogamer calls "a bold collision of MMO, strategy game, and social networking" — puts gamers in a world with no bots and no NPCs, so the social aspect is constant. The 2D perspective keeps system reqs low, and after signing on and picking a country to call home, it's really up to the player how quickly they want to level up or what they want to do (and who they want to ally with).
Reportedly, the game had over 3.7 million visits in May, with its over 126,000 citizens from 200 countries spending 55 million minutes ingame during the month.
Below is a recently posted video of eRepublik cofounder Alexis Bonte interviewing Guillaume Latour, a partner at AGF. Latour is joining the startup's board of directors.
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