Sparkplay Media Inc., a
Sparkplay Media Inc. announced today that it has secured $4.25 million in financing from Redpoint Ventures and Prism Ventureworks. The company plans to use the capital to expand development of its browser-based massively multiplayer 3D games platform and of its first MMO, Earth Eternal.
“We've been self-financing, and thus bootstrapping, for two years now and are incredibly excited about the chance to expand and accelerate our plans. We're developing a different kind of game: one that combines compelling traditional MMO gameplay with new experiences that can be shared with friends on social networks and beyond,” said Matt Mihaly, CEO of Sparkplay Media.
“We're also very happy to have the great people at Redpoint and Prism backing us up. It's gratifying that they share our vision of where MMOs and virtual worlds are heading and are willing to give us the chance to prove that vision to the market,” continued Mihaly.
Fouad ElNaggar, who sits on Sparkplay's board for Redpoint, said, “What Matt and his team are creating immediately sparked our interest. There are lots of teams out there trying to build the next big thing in games – we've met many of them! Sparkplay was rare in that they combined a proven ability to create compelling content that drives purchasing with the type of forward-looking thinking that will be required for a new gaming experience to achieve escape velocity with consumers.”
About Sparkplay Media
Sparkplay Media is a young, dynamic game developer and publisher formed by veterans of the independent games scene.
For additional information about Sparkplay Media, please visit the website at http://www.sparkplaymedia.com.
About Redpoint Ventures
Redpoint Ventures focuses on partnering with and funding innovative companies that have the potential to define, lead, and change industries. Redpoint partners have many decades of experience and success in technology investing; combined with this foundation, the firm is able to leverage a thriving network of entrepreneurs, partners, and industry experts to accelerate building market-leading companies. Redpoint (http://www.redpoint.com) was founded in 1999 by partners from two of the top firms in the venture capital industry and currently has over $2 billion under management. The firm is headquartered in Menlo Park, CA with offices in Los Angeles and Shanghai, China.
About Prism VentureWorks
Founded in 1996, Prism VentureWorks (formerly Prism Venture Partners), Westwood, MA, Santa Monica, CA, is a venture capital firm built by experienced entrepreneurs in technology and life sciences. With approximately $1.25 billion in capital under management across five funds, Prism's primary goal is to deliver superior value to its investors. Its partners have served as the founders, CEOs and senior executives of numerous venture-backed companies. By leveraging its network of seasoned entrepreneurs, skilled executives and long-time industry contacts, Prism identifies and works closely with companies with the potential to be market leaders. For more information, visit http://www.prismventure.com.