Emergent Game Technologies, a Calabasas, Calif.-based provider of applications used to develop video games more cost-efficiently, just raised $12.5 million in fifth-round funding to support the commercialization of a new product, slated to launch during the Game Developers Conference in late March. The company claims its technology minimizes cost and development time by cutting down on the required back-end of game software. Right now, its Gamebryo platform is used by Disney, Electronic Arts, and others to create games for the Playstation 3, Xbox 360, PC and Wii.

The recent investment round was led by Hopewell Ventures and included Worldview Technology Partners, Jerusalem Venture Partners, Walker Ventures and Adena Ventures. This brings Emergent’s total capital raised to $37 million, including its $12 million last round in 2007. Past backers have included Cisco Systems, Copan GmbH, Mount Washington Partners and the state of West Virginia’s Jobs Investment Trust, according to VentureWire.