# Lockwood Publishing

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lockwood-publishing

- Industry: Software
- Headquarters: Nottingham, UK
- Website: www.lockwoodpublishing.com
- Total disclosed funding: $26M
- Latest round: Series A (Oct 9, 2020)
- Investors on record: 2

## About

Lockwood Publishing Limited, based in Nottingham, United Kingdom, specializes in creating engaging digital experiences, notably its flagship product Avakin Life, a vibrant 3D social universe connecting millions of users.Founded in 2009 by Joel Kemp, Lockwood Publishing Limited operates out of Nottingham, UK. The company focuses on immersive social gaming, particularly through Avakin Life. In October 2020, Lockwood raised GBP 20.00 million in Series A funding, led by Tencent Investment, which valued the company at GBP 108.56 million post-money. This round marked a strategic shift towards enhancing their gaming portfolio and expanding their user base.Lockwood Publishing Limited is renowned for its flagship product, Avakin Life, a 3D social universe that has amassed over 200 million registered users since launch. Avakin Life provides an immersive digital environment for users to create avatars, socialize, and engage in various activities. Lockwood also focuses on developing additional creative and interactive experiences that emphasize user authenticity and community connection, primarily targeting markets in North America, Europe, and Asia.In the most recent fiscal year of 2023, Lockwood Publishing generated revenue of GBP 22,352,271.70, with an EBITDA of GBP -11,170,107.10. This revenue stems from in-app purchases and premium content offerings within Avakin Life, enabling users to buy virtual currency for various digital assets that enhance gameplay.Following the GBP 20.00 million Series A funding secured in October 2020, Lockwood Publishing plans to utilize these resources to enhance existing products and develop new offerings. The company aims to expand into additional geographic regions, refining its reach within North America, Europe, and Asia. The Series A funding will also support further development of Avakin Life and potential new titles, aligning with Lockwood's strategy to bolster community engagement and user experience.

## Funding rounds

- Series A, Oct 9, 2020, $26M — Tencent Investment, Novator

## Investors

- Tencent Investment — Series A
- Novator (https://capitalatlas.ai/funds/novator) — Series A