CMON Secures 5 Million in Financing


Cool Mini or Not has just announced their first round of investment from a Singapore asset management company.

From the Press Release:

CMON Limited Secures US$5.3 million for Series A Financing Round

CMON Limited announced today that it has successfully secured US$5.3 million for its Series A Financing Round, in order to continue meteoric growth in the tabletop games space.

Specializing in premium games marrying high quality components and miniatures with great game design, CMON has published several award winning titles including smash hits like Zombicide, Arcadia Quest and Blood Rage.

CMON pioneered the use of crowdfunding platforms like Kickstarter to generate funding while creating demand for its games. With over US$20 million funded via Kickstarter thus far, CMON is one of the fastest growing companies in the industry.

“CMON’s goal is to create great games,” says Chern Ann Ng, CEO of CMON. “This capital gives us the ability to expand quickly by bringing in more talent, acquire established titles from other publishers, as well as pursuing licenses that have mass market appeal.”

Further financial terms of this deal have not been disclosed.

About CMON Limited

CMON is an international publisher of boardgames, tabletop games and apps. It trades under the brand “CoolMiniOrNot” and operates the popular site Beginning from small hobbyist roots, CMON has grown into a multinational group that publishes several award winning games, including Zombicide, Arcadia Quest and Blood Rage.

About Quantum Asset Management

Quantum Asset Management, Singapore is a Registered Fund Management Company with the Monetary Authority of Singapore, and manages the fund investing in CMON.

Quantum Asset Management has been providing fund management services to qualified investors since 2004 and specializes in Pre-IPO investments in Asia high growth companies that are capable of becoming public listed entities.


It would seem that CMON has chosen the venture capitol – IPO route based on the description of Quantum Asset Management.

~They are clearly wanting to grow into a major player in the industry by selecting this route.


  • jayadan

    They’ve come a long way since the shady New Wave Miniatures days.

    • Bad Meat

      They are still sketchy AF.

    • Cergorach

      Yeah, I was just thinking/realizing that. That’s been a long while ago. Has CMoN earned back our trust. I’m pretty certain that if I back a CMoN project now, I’ll get the promised product…

    • standardleft

      What happened? I only know CMON as a painting site.

      • I can’t exactly say what sketchy stuff because I don’t know it all, but I’ve heard about how they run their Kickstarters as pre-order systems, don’t deliver on schedule, and how some Kickstarter backers waited over 6 months for products that were already being sold in stores.

        They also drop support for games rather quickly (ie, Kaosball).

        I’ve never had an issue with them, personally, but it seems to be a matter of luck.

        • Cergorach

          That’s mostly the early days of CMoN KSs. The folks behind Myth and the folks behind Shadows of Brimstone do this as well and far more extreme. Being late is pretty much integral to KS, as long as people get the product they paid for.

          Some of us are waiting 2+ years for the other half of our Robotech pledges…

          • First impressions are the lasting ones, though. This is what built their “sketchy” reputation. Plus, even if you look at the Zombicide 3 Kickstarter page, people STILL haven’t received their stuff and I got mine like a year ago.

          • nurglitch

            It’s a Kickstarter, not a pre-order. The point is that you give them money so they can get their product into stores.

          • Cergorach

            No, it’s effectively a preorder, we’re not giving them money to get their products into stores. We’re giving them money so they can deliver the products they promised to us, to us.

  • Orangecoke

    I still remember when CMON first started up as a straightforward mini rating site. Good for them!

    • Richard Mitchell

      Me too! I used to go on there for painting tutorials and ideas. Its cool to see that they are doing the same but making some excellent games as well.

      • Richard Mitchell

        I heart Dark Age.

  • euansmith

    Fingers crossed they will keep control of their business and don’t end up being wagged by their investors.

    • CMAngelos

      James the Bonds and Stocks accountant in…. “Quantum Asset Management”..

      Also staring Money “Penny” Pincher.

      Okay I ran out of ideas.

    • Its the first step to a functional Flux capacitor 😉

      • euansmith

        Call me back when they’ve got a fully functioning Interocitor.

  • blackbloodshaman

    meteoric growth huh? i wonder whose lunch they are eating?

  • Captain Raptor

    Good for them. I don’t have any of their games but I am a big fan of the Dark Age Minis.

  • Just wish they’d focus. They put out a LOT of crap. Meanwhile, the stars of the line up, things like Wrath and Dark Age, get very little consistent support. Takes a month or more to get news on those fronts.

    Wrath in particular was all over the place last summer….now they’re struggling to maintain interest because they busy putting out more board games. I want them to succeed, I love their stuff, but they need to focus…on something.

  • ChubToad

    Abusing the KS platform has made them a lot of money. It’s time they leave the KS scene and start doing some normal company business, just like everyone else.

    • Bingus

      That’s what the whole article is about.

    • Cergorach

      They don’t abuse the KS platform, they use it for what it was mend to do. We all benefit, we get a crapton of stuff, they get the money upfront and don’t have to sell at distribution prices. Everybody wins that’s directly involved.

      What I’ve seen is that CMoN will be publishing a lot of smaller boardgames, stuff that won’t go to KS. I suspect that we’ll still see about five CMoN KS a year, they would be nuts to stop doing that.

  • ImAlpharius

    5.3mil. That’s a lot of restic and bent spears they can make now.

    • Cergorach

      Have you seen and held the minis from Zombicide Black Plague or Blood Rage? Sure spears can bend, they also bend back again.

      The problem with Mantic Restic is that it has/had a lot of flash and required a LOT of assembly. Not so with the CMoN plastics. No flash, minimal mold lines and no assembly. That’s different from the Relic Knight stuff from a couple of years ago (have some of that stuff second hand).

  • JonnyRocket

    I hope it’ll help is speeding up the production process. Maybe they’ll be able to skip the KS campaigns and go straight to production. Where are my Ultimate Survivors?