Wednesday, May 7, 2008

PurePlay is the first and largest legal play-for-cash online poker destination got $15 million in funding

What Company Is Offering:

PurePlay is the first and largest legal play-for-cash online poker destination. Through a patented business model, PurePlay enables players to compete for cash without ever putting their own money at risk.

How Much They Got From VCs;

PurePlay, the first and largest U.S.-compliant play-for-cash online poker destination, today announced the completion of a Series C equity financing round. Led by Bay Partners, this round brings the company's total funding to $15 million. PurePlay investors also include Ron Conway, James Joaquin and other prominent Silicon Valley investors.

PurePlay announced in March of this year that it has reached a record 1 million players and it has given away over $3 million in cash prizes to date ? more than any other non-gambling poker site. The current funding round will enable PurePlay to expand its marketing efforts and build out its infrastructure to dramatically scale an already rapidly growing business.

"Our continued growth tells us that the online community is enthusiastic about PurePlay's legal risk-free, play-for-cash approach to poker play. With the completion of this funding round, we are now set to take the company to the next level," said PurePlay CEO Jason Kellerman. "Bay Partners, Ron Conway, James Joaquin and our other investors have deep experience in nurturing dynamic high growth companies such as PurePlay. We're happy to have them on board as investors and partners in our rapid expansion."

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