Former Marvel CEO invests in kid’s superhero MMO Herotopia

Herotainment, developer of popular children’s massively multiplayer browser game Herotopia, has announced a new round of investment from Cuneo & Co., headed by former Marvel chief executive Peter Cuneo.

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The amount of investment from Cuneo & Co. was not disclosed. The funds will be used for further development on Herotopia, an online game that lets kids create their own superhero avatar and explore fantasy worlds with other players across the globe. The game was launched this past May. A significant expansion is currently in the works for the game, as well as an iPhone, iPad, and Android spin-off title called Tango Chase. The mobile game is slated for a release early next year.

Peter Cuneo — who served as CEO of Marvel for a decade, from 1999 to 2009 — will join the Herotainment board as part of the deal. He currently serves as managing principal at Cuneo & Co. Co-principal Gavin Cuneo will also join the board.

“Herotainment’s flagship product, Herotopia, has a strong brand, great characters, and a story that is being embraced by children worldwide, and applauded by children’s media experts,” Peter Cuneo said in a statement. “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.”

According to the company’s website, Herotainment has plans to expand the popular online game across multiple entertainment mediums in addition to the announced mobile game, including books, an animated television show, licensed products, and more. Previously, Herotainment signed a publishing deal with Transformers Universe and Runescape developer Jagex Games Studio, as well as a partnership with the children’s division of Penguin Books.