New York-based children's media company Herotainment, the developer behind social online game Herotopia, has received a capital investment from former Marvel CEO Peter Cuneo.
As part of the investment, Cuneo has joined the Herotainment board alongside his brother Gavin Cuneo, representing his private investment company Cuneo & Co.
Herotopia is an online, Flash-based MMORPG that was published by Jagex Games earlier this year. This new investment will allow Herotainment to releases a "significant expansion" for the game.
It is also going towards funding the development team's move into the mobile gaming space, with the upcoming release of its first smartphone game Tango Chase, due for release in 2012.
The company noted that it will be working closely with Cuneo & Co to build Herotopia into a global children's entertainment brand.
Herotainment CEO Wade Teman explained, "We are creating a new generation of superheroes and Cuneo & Co's extensive experience building multi-billion dollar entertainment brands will be an invaluable asset."
"Having successfully led the entertainment-giant, Marvel, Peter Cuneo is the ideal partner for Herotopia and Herotainment."
Peter Cuneo added, "We are excited to support the continued rise of this new, uniquely focused children's brand, both online and offline, through other media and consumer products."