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Angry Birds Raises $42 Million in Funding

Rovio today released a statement announcing a $42 million Series A investment co-led by Accel Partners (the same VC firm that worked with Facebook, Groupon, and AdMob) and Atomica Ventures (founded by Niklas Zennström, who helped co-found Skype, Kazaa and Rdio). Also participating in the funding round was Felicis Ventures.

Rovio plans to use the money to expand the Angry Birds franchise and to develop additional titles:

"With Angry Birds, we have successfully launched not only a strong new brand, but also a whole new entertainment franchise," said Mikael Hed, CEO and co-founder.

"Angry Birds will continue to grow, and we aim to create more similar success stories. We will strengthen the position of Rovio and continue building our franchises in gaming, merchandising and broadcast media."

Funding aside, Rovio revealed that Niklas Zennström will actually be joining the board of Rovio.

"This investment will give Rovio wings," said Niklas Zennström, CEO and Founder of Atomico.

"The company has an outstanding management team and is a category winner with huge potential, making it precisely the kind of company we like to back. Angry Birds is one of the fastest-growing online products I’ve seen, growing even faster than Skype, and the company has done a brilliant job of extending it across different platforms and merchandise. I’m really looking forward to joining the board, and helping the team to fulfill its ambitions."