Helping new players become the heroes of their dreams. That’s a wonderful way to pinpoint what Pengu Studios does, and they are certainly on their way of realizing their vision. With a round just raised, they are ready to really accelerate their growth.
Markku Lorentz, Founder and CEO, told us about their recent success and where they’re heading next…
Markku, tell us a little about Pengu Studios! What do you do and for who?
We are building a web-based platform called Natural Pengu to make playing tabletop roleplaying games (such as Pathfinder and Dungeons & Dragons) much easier for new and veteran players alike.
TTRPGs have now become mainstream pop culture through popular series like Stranger Things and Big Bang Theory, as well as live play streaming channels like Critical Role.
The worldwide market for roleplaying games has exploded with new players eager to become the heroes of their dreams. We are here to help them to get playing as soon as possible without getting bogged down in the notorious Jungle of the Endless Rules.
You have just closed a round – congratulations! How has the process been? What was your experience with raising capital?
Raising capital is intense! But we have been very fortunate to have the support of Connect, I Love Lund & Destination Dalby this round. So, we have met many wonderful and helpful people, investors and advisors, startups, old and new friends… This round has been all about solid support from these networks. Being part of Connect and receiving so much help from the organization has been crucial for our success.
How was it to get to know investors, and how do you feel about the investors that have jumped onboard now?
I have now learned, that it is very easy to get stuck in ”The Pitching Mode” with investors. Only talking about positives, sugarcoating a little here and there. ”Everything is awesome, everything is cool…” But that doesn’t really lead anywhere.
The magic happens once you’ve done away with the pitching and start talking. Being real. That’s when you see what an investor is really like and what they can offer to actually help you. Money is necessary, YES, but there is so much more to gain from a great investor.
I have a really good feeling about the group of investors jumping on board this round. All are willing to roll up their sleeves and help where they can. And I can wave goodbye to ”The Pitching Mode” and lead our efforts in TAKING OVER THE WORLD with some roleplaying goodness!
How big was the round/ how much did you end up taking in?
603,000 kr + immeasurable value of contacts, experience, and expertise.
Please tell us a little about working with Connect, what part of the process was helpful and how?
I contacted Connect sort of last minute (blush). To my surprise, the wheels turned VERY fast. An immediate response from Charlotte. Ellinor emailed straight after. Quick phone meeting. Practice pitch meeting with Jonatan and great advisors. Claudia helping with practicals (and saving us from our own blunders )… I’m just very impressed with the Connect team and the professional way they swept us through the process without ever losing the human touch.
What happens next?! What are you planning and striving towards in the next few months / the next year to come?
By the end of this year, we are going to:
- Finalize negotiations & sign a partnership contract with a large worldwide TTRPG publisher
- Start early access sales
- Run a Kickstarter campaign
- Spread Natural Pengu love to all who are hungry for adventure, camaraderie, and TREASURE!