Company Overview
Lockwood Publishing Ltd is a leading developer and publisher in the mobile gaming industry, prominently known for its virtual world offering, Avakin Life. This game has amassed over 200 million downloads on platforms like iOS, Google Play, and Amazon, establishing Lockwood as a significant player in the cross-platform gaming market. Their primary focus is on creating immersive gaming experiences that promote user interaction.
Corporate Structure and Management
Lockwood Publishing's leadership team is integral to its competitive growth and operational success. Guided by CEO Halli Thor Bjornsson, who brings a wealth of experience from his work with TIGA, the company has transitioned from its origins as Outso to become an independent powerhouse in game development.
Key Executive Team Members:
- Halli Thor Bjornsson - Chief Executive Officer
- Antonio Ferrara - Chief Financial Officer
- Oliver Kern - Chief Commercial Officer
- Martin Morrison - IT Director
This executive team is recognized for fostering innovation and strategic growth. Notably, Oliver Kern is lauded as a growth hacker, with prior roles in prestigious gaming firms such as Rovio and Wargaming.
Financial Overview
Lockwood Publishing has raised a total of $38.8 million in funding, with major contributions from Tencent Holdings, David Helgason, and Hilmar Petursson. Their Series A funding round concluded on November 4, 2020, bringing in $25 million to enhance global user experiences. As of November 2020, the company's estimated valuation ranges between $100 million and $150 million. They reportedly generate an estimated annual revenue of $31.5 million, with revenue per employee approximated at $217,150.
Operations and Growth
Headquartered in Nottingham, England, at Floors 1/2, City Buildings, 24-48 Carrington Street, NG1 7FG, Lockwood Publishing employs over 200 individuals, having recently expanded its operations via a new office in Cambridge. Over the past year, there has been a 28% decline in the number of staff. Despite this, Lockwood remains one of Europe's top mobile game developers, celebrated for its flexibility and award-winning achievements. The company actively supports creative talent development to enhance its world-class virtual experiences.
Competitive Landscape
Lockwood Publishing operates within a highly competitive industry, facing rivals such as:
1. Kwalee - Known for its hyper-casual games, Kwalee employs 397 staff and generates $100.2 million in revenue, marking it as a dominant competitor in the mobile game sector.
2. Dream Reality Interactive - Specializing in virtual and augmented reality, this company posts a revenue of $3.3 million with 23 employees, focusing on immersive technologies.
3. Playground Games - An Xbox Game Studio recognized for the Forza Horizon series, with a revenue of $108.8 million and employing 431 individuals.
4. Games Jobs Direct - While not directly involved in game content production, it serves as a resource for talent acquisition within the gaming sector, impacting the competitive landscape for skill recruitment.
5. Bossa Studios - Focusing on co-op multiplayer and diverse game development, Bossa Studios has produced notable titles like Monstermind and Surgeon Simulator, with a $19.6 million in revenue and a workforce of 97.
Strategic Movements and Achievements
Lockwood Publishing is actively expanding its strategic operations, notably with a new office in Cambridge. Their involvement in the metaverse has been highlighted by sponsoring the New Codes digital fashion summit, underscoring their commitment to innovation and future-facing initiatives.
Engagement with these initiatives, despite a reduction in workforce, signals Lockwood's focus on the metaverse and maintaining a competitive edge in creating virtual worlds, setting it apart from its industry competitors.
Social Media Profiles:
- [Twitter](https://twitter.com/AvakinOfficial)
- [Facebook](https://www.facebook.com/AvakinLifeOfficial)
- [Instagram](https://www.instagram.com/avakinofficial)
