Wednesday, May 14, 2008

Social Gaming Network, is developer of games for social networks like Facebook, has raised $15 million in Series A funding

What Company Is Offering:

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.

How Much They Got From VCs:

Social Gaming Network, is 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.

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.


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