In Bad Piggies, instead of shooting with a slingshot, players build vehicles that help the characters get the birds' eggs.
The company said it was hoping the new game would breathe additional life into its brand.
"We see Bad Piggies as a long-term brand-building exercise. In three years from now we want to see Angry Birds and Bad Piggies as strong vibrant brands out there," Petri Jarvilehto, head of gaming at Rovio, told Reuters in an interview.
Rovio is also expanding into merchandising, modelling its long-term strategy on Walt Disney Co (DIS.N) by selling a range of stuffed animals and other toys, as well as branded playground equipment which then bolster branding for its games.
If successful, the company says it could go public as soon as next year, offering a possible payday to its backers. Last year, Rovio raised $42 million from venture capital firms including Accel Partners, which previously backed Facebook and Baidu (BIDU.O), and Skype founder Niklas Zennstroem's venture capital firm, Atomico Ventures.
Last year some 30 percent of turnover came from items other than games, but it is the group's on-screen inventiveness which is the crucial factor in its prospects.
"Rovio needs to re-establish its reputation for creating hits with legs (staying power)," Kuittinen said.
"There is no doubt that the pig game will hit number 1 at launch. But it has to stay in top ten for half a year to erase the doubts that the fast fade of Amazing Alex has created."
