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Lockwood Publishing

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Mobile 3D virtual world for social simulation

Nottingham, United KingdomFounded 2009Consumer Services
Valuation $100–250M Last recorded · 2020
Revenue $10–50M Latest reported FY
Headcount 100–500 Current team size
Total funding $10–50M Disclosed equity funding
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About Lockwood Publishing

Lockwood Publishing is a British independent mobile game developer responsible for the creation of Avakin Life, a 3D social metaverse. Founded in 2009 by Halli Bjornsson, Joel Kemp, and Justin Johnson, the company initially operated as Outso, a work-for-hire studio developing experiences for PlayStation Home. This work with Sony, completing around 60 projects, provided the foundation for their shift into self-publishing. Bjornsson's prior experience includes roles as an artist at Bizarre Creations, Electronic Arts, and Climax Online, working on titles for PlayStation, EA, and Sega.

Sensing a shift in the market towards mobile and social platforms, the founders pivoted the company to focus on mobile development, launching Avakin Life in December 2013. The game gained significant traction following the closure of PlayStation Home in 2015, positioning itself as a spiritual successor on mobile. Avakin Life allows players to create and customize 3D avatars, design and decorate personal apartments, and socialize in a variety of virtual locations and events. The platform emphasizes social interaction, self-expression through fashion, and community engagement.

The business model is free-to-play, generating revenue through in-app purchases of virtual goods, such as clothing, accessories, and furniture, using virtual currencies like 'Avacoins' and 'Crowns'. The game has surpassed 250 million registered users, with over a million daily active players at its peak. In November 2020, Lockwood Publishing secured a $25 million Series A funding round led by Tencent, with participation from existing investors including Novator Partners, David Helgason (co-founder of Unity), and Hilmar Pétursson (CEO of CCP Games). The company has also implemented age verification technology to create safer, age-gated spaces for adult players.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2009
Headquarters
Nottingham, United Kingdom
Employees
104
Open positions
5
Dealroom signal
66.9/100
Industry
Gaming
Sub-industry
Mobile Gaming
Sector
Consumer Services, Entertainment, Publishing, Hard Tech, DT and LS, uk is8 creative industries
Technology
3D Technology, Deep Tech
Business model
SaaS
Client focus
b2c

Funding history

2 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
SERIES A✓Equity / VC Nov 2020 $25M $100M David Helgason · Novator · Tencent · Runar Petursson —
EARLY VC✓Equity / VC Aug 2019 — — Novator · David Helgason —
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Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

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Growth signals

Lockwood Publishing website traffic

Latest recorded traffic for Lockwood Publishing is 2.8K monthly website visits, up 86.7% over the last three months. Lockwood Publishing's team declined 2.8% over the past year.

Latest monthly visits2.8K 3-month web change+86.7% 1-year team growth-2.8%
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Similar companies

Closest operating peers by Dealroom taxonomy

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Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

5 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series A4 investors entered at this stage

  • Novator
  • David Helgason
  • Tencent
  • Runar Petursson

Other known investors1 additional known investor

  • Foobar
Team profiled 24 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 2 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
16 countries with
team presence
🇬🇧 United Kingdom63.9%
🇵🇹 Portugal12.1%
🇻🇳 Vietnam3.6%
🇺🇸 United States2.4%
🇵🇭 Philippines2.4%
Top 5 of 16 shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Lockwood Publishing on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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