SGN Raises $15 Million

Social Gaming Network, a Palo Alto, Calif.-based developer of games for social networks like Facebook, has raised $15 million in Series A funding. Backers include Greylock Partners, Founders Fund, Columbia Capital and Novak Biddle Venture Partners.

 

PRESS RELEASE

 

Social Gaming Network, (SGN) first gained wide acclaim and user adoption through their first Facebook game, Warbook, which was the first Facebook application to take advantage of the social graph and create a true social gaming experience on that network. The company, led by Shervin Pishevar, has since moved quickly to capitalize on social gaming, a space that has become one of the fastest growing verticals on the social web. Since their launch, SGN has quickly secured its position as one of the leading publishers and become the platform of choice for social game developers who want to quickly distribute and monetize their games. Seizing the opportunity, SGN has nurtured and will continue to expand its expertise and leadership in the social gaming community.

 

SGN's development team is creating the most dynamic and simple ecosystem for the creation and publication of games on the social web. With the current financing, the company will allocate even greater resources to research and development of its gaming platform, and produce more tools for social game developers who want to create a richer gaming experience on the social networks and the social web. SGN has also become the marquee sponsor of the very first social gaming conference: InterPlay: the Business of Gaming on the Social Web.

 

Online games have morphed beyond the “casual” environment and interface to become a part of a richer entertainment experience that has grown to include a new audience. This audience may not have experience with casual or hard-core games, but the numbers reveal that social games provide a different experience that's fun, compelling, social and conveniently asynchronous — meaning that players need not play with one another simultaneously.

 

As developers create increasingly rich features and more advanced game-play, SGN will be at the forefront of the field, providing these developers with the right platform and an audience to distribute these games, while giving them maximum monetization opportunities through advertising and virtual goods. SGN's robust portfolio of games also addresses a wide spectrum of tastes, from hard-core war games to cheeky, fun casual games.

 

Today marks a major milestone for SGN and as the company adds more depth to its platform and diversity to its portfolio of games, it will continue to stay at the forefront of the social gaming industry.

 

Quotes:

 

Shervin Pishevar, CEO of SGN

 

“We could not be more pleased with the announcement we are making today. This funding is indicative of how SGN is poised to dramatically impact the future of gaming platforms on the social web. Our focus and drive is to develop a dynamic and flourishing ecosystem for gaming on the web and continue to be the obvious choice for game developers who want to create social games that engage millions of users on the social networks and beyond.”

 

David Sze, Partner, Greylock Partners

 

“SGN is at the forefront of social gaming. Greylock Partners is impressed with the positive growth and reputation that SGN has quickly achieved. We are thrilled to work with them to further develop an industry that we know has incredible potential in the years to come.”

 

Justin Fishner-Wolfson, Principal, Founder's Fund

 

“SGN has proven itself as a leading innovator in the social gaming space. Their strong leadership team and unmatched portfolio of games will allow them to continue to build upon the platform they have in place. SGN is uniquely positioned to work with developers who want to create a richer gaming experience for social networks and the social web.”

 

About SGN:

 

Social Gaming Network (SGN) is the leading global development platform for social game distribution. SGN has created a complete ecosystem for social game developers to easily distribute and monetize their games across the social web. These games transcend traditional game play, by giving players a highly personalized, engaging, competitive, and portable user experience. Since its inception, SGN's games have attracted over 1 billion page views, 54 million installs and nearly 1.1 milion daily active users across Facebook, Bebo, hi5, and MySpace. Popular titles include, Warbook, FightClub, StreetRace, Jetman, and Free Gifts. Headquartered in Palo Alto, CA, SGN is funded by Greylock Partners, Founders Fund, Columbia Partners and Novak Biddle Venture Partners. For a complete list of available tiles, developer and publisher information, please visit www.sgn.com.

 

About Greylock Partners:

 

Founded in 1965, Greylock Partners is one of the world's leading venture capital firms. Over the past 41 years, Greylock has funded and helped build several hundred successful companies. The Greylock approach uniquely puts the entrepreneur first, with Greylock working as an “invited guest” in a highly supportive yet consultative way to help entrepreneurs build market-leading companies. Companies Greylock has funded include Ascend Communications, CheckFree, Continental Cable, Decru, DoubleClick, Internet Security Systems, Ikanos, Legato, Millennium Pharmaceuticals, Openwave, Red Hat, RightNow Technologies, Tellabs, Trilogy and Wily Technology. Greylock's offices are located in Silicon Valley, the Boston area and Israel. For more information, please visit www.greylock.com.