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Social Gaming Startup Funzio Lands $20 Million in Series A Funding Led by IDG Ventures and IDG Capital PartnersFunding to Fuel Growth for the Developers Behind the Mega Hit Facebook Game Crime City (May 10, 2011)
SAN FRANCISCO, CA -- (Marketwire) -- 05/10/11 -- Funzio, developer of action packed AAA quality games for Facebook and mobile, today announced that it secured $20 million in a Series A financing round led by IDG Ventures in the US and IDG Capital Partners in China. Phil Sanderson, IDG Ventures Managing Director, will join the board. Rick Thompson, Playdom Co-Founder and Former Chairman of the Playdom Board, also participated in this round and serves as Chairman of Funzio's Board.
Having developed many chart-topping social games on Facebook and mobile before founding Funzio, the team launched its first game Crime City in September 2010, and it quickly became one of the top five Facebook games of the year. Today Crime City, which will be available on mobile later this year, has:
- more than 750,000 daily active users
- more than seven million monthly players
- the highest rating of any game that has more than 600,000 daily active users on Facebook (4.9/5.0)
Building on the success of Crime City, Funzio plans to use the funding to triple its team this year and scale its business so that it can launch games faster and develop them in parallel. The company has immediate openings for engineering, art and product positions.
"At Funzio, we're passionate about building phenomenal games that people love playing. We feel very fortunate to have Phil Sanderson join our board because he shares our values and vision -- creating awesome cross-platform games for Facebook, iOS and Android," said Ken Chiu, Co-Founder and CEO of Funzio. Before Funzio, Chiu was the Co-Founder and CEO of Storm8 (also known as Team Lava), the #1 social gaming company on the iPhone, and a General Manager at Zynga where he headed up the XWars Studio.
"The Funzio team is unique in that they have been in the social gaming space since its inception and created some of the biggest hits on Facebook and iPhone," said Sanderson. "Now they're transforming the industry by taking a cross-platform approach with AAA quality social games so people can play on Facebook and mobile -- two of the biggest markets."
About IDG Ventures and IDG Capital Partners
IDG Ventures is a global network of venture capital funds with approximately $4 billion under management and a portfolio of over 250 companies built over the last 15 years. The IDG Ventures network is comprised of five independent partnerships managing funds in North America and Asia, including IDG Ventures in the United States and IDG Capital Partners in China. Each partnership makes investments on behalf of its limited partners, including International Data Group (IDG), the world's largest IT media company. By combining the IDG platform -- an unparalleled combination of global publishing, market research (IDC), and conferences and exhibition resources -- with years of hands-on experience in early-stage company building, each IDG Ventures fund helps companies understand their markets better and penetrate them faster than their competition. For more information, visit: http://www.idgventures.com.
Funzio developed the social game Crime City in 2010 and it quickly became a mega hit. Funzio plans to continue to create free-to-play high quality, innovative and polished games for Facebook and mobile that are action-packed and foster competition. Funzio is headquartered in San Francisco, California. For more information, visit: http://www.funzio.com.
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