Online gaming services firm Curse scores $16 mln

Curse said Tuesday that it has received $16 million in funding. The investors included GGV Capital and Multiplier Capital, which provided $6 million in venture debt. In addition to the funding, Hans Tung of GGV Capital has joined the Curse board of directors. Headquartered in Huntsville, Alabama, Curse is an online gaming services firm.

PRESS RELEASE

HUNTSVILLE, AL – July 8, 2014 – Curse Inc., a popular online gaming services company, today announced $10 million in Series B financing, led by new investor GGV Capital, a multi-stage venture capital firm with investments in the US and China. With this financing, the company has raised a total of $22 million in equity funding since its inception. Hans Tung, Managing Partner for GGV Capital joined the Curse Board of Directors as part of the financing.

In addition, Curse announced it has obtained $6 million from Multiplier Capital, a venture debt fund with offices in Maryland, New York and Los Angeles earlier this year.

“Curse is a high-growth company that is creative at using technology to build highly engaged gaming communities online. We are thrilled to be working with such a dynamic team that has the ability to both enhance how games are currently played and introduce more interactive alternatives,” said Hans Tung, Managing Partner, GGV Capital.

Last month, Curse launched Curse Voice, an innovative multi-player voice communications platform that allows gamers to connect and interact securely in PC games such as League of Legends. Enthusiastic response to the beta launch highlighted gamer demand for new voice technology that enriches player experience and engagement. Since mid-June, Curse Voice has one million monthly active users and expects to have 10 million users by the end of this year. Other Curse properties and services collectively serve one billion monthly page views and 28 million monthly unique visitors. Curse will use the financing to continue to develop Curse Voice and other technology services.

“For us, gamers are always #1 and we are excited to work with Hans and the GGV team because they have been helping to build global gaming companies for more than a decade. They also bring extensive experience with diverse business models that focus on user experience – which is what Curse is all about,” said Hubert Thieblot, CEO, Curse.

About Curse
Founded in 2006, Curse, Inc. consists of the more than 45 sought after gaming websites attracting over 28 million unique visitors worldwide, and in excess of 1 billion page views per month according to comScore data. Curse empowers gamers with premium resources and content resulting in an enriched, authentic, and more enjoyable experience. Worldwide, gamers depend on Curse for the tools and expertise they need to take their gaming to the next level. Curse Inc. is headquartered in Huntsville, AL.

About GGV Capital
GGV Capital is a $2.2 billion multi-stage venture capital firm based in Silicon Valley (Menlo Park, CA) and Shanghai, China. Founded in 2000, the firm leverages a unique operating model – one team investing across the U.S. and China, the two largest economies in the world. GGV portfolio companies include Alibaba Group, athenahealth, AAC Technologies, BlueKai, Buddy Media, Chukong Technologies, Curse, Domo, Endeca, Flipboard, GrabTaxi, HotelTonight, Houzz, Meilishuo, Nimble Storage, Pandora Media, Percolate, Qunar, SoundCloud, Square, SuccessFactors, Tujia, UCWeb, Wish, Youku-Tudou, YY, Zendesk, 21Vianet and more. For more information, visit www.ggvc.com.

About Multiplier Capital
Multiplier Capital is a debt fund actively seeking opportunities to make secured term loan investments in professionally backed growth companies. With $230 million under management, Multiplier has offices in the Washington DC metro area, Los Angeles and New York from which it invests nationwide across all growth industries, with a focus on technology-driven businesses. Working together as a team, the Multiplier partners have deployed almost $1B in committed debt capital over more than 100 transactions, and seek to apply their 77 years in combined experience to tailor value-added debt solutions for Multiplier’s company partners. To learn more about Multiplier Capital, visit www.multipliercapital.com..

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