FlowPlayTM secures funding from Intel Capital, Ambient Sound Investments, and Leading Angel investors
Series A financing totals approximately $3.7 million
| Seattle, WA - February 6, 2008 - FlowPlay, Inc. |
February 6, 2008 - FlowPlay, Inc., a developer of community oriented casual gaming
technology, today announced the closing of its Series A financing with Intel Capital
and Ambient Sound Investments (ASI) leading the round. Other investors include Ben
Feingold, former president of Worldwide Home Entertainment at Sony Pictures and
Michael Schutzler, former SVP of Games at RealNetworks, who will continue in his
role as a board member. The financing round, totaling approximately $3.7 million,
will be used to complete and launch FlowPlay's first consumer entertainment property,
aggregating popular online casual games in a virtual environment.
"Casual gaming is poised for further growth and ripe for innovation," says Mike Buckley, director of Strategic Investments, Intel Capital. "With its experienced management team, solid core technology and unique approach to this space, FlowPlay is well positioned to provide unique gaming solutions to this expanding market segment."
"We're very pleased to have both Intel Capital and ASI as investors," says Derrick Morton, CEO of FlowPlay. "Intel Capital has incredible industry relationships and a deep understanding of the future of interactive entertainment. The principals of ASI know what it takes to build a startup into a multibillion dollar company. You couldn't ask for a better combination."
Over the past several months, FlowPlay's team of artists and engineers has developed a rich virtual environment that will present an entirely new way to play casual games. FlowPlay's uniquely shardless server infrastructure and proprietary avatar technology will allow game players to create 3D style characters in a deeply engaging Flash environment.
FlowPlay was founded by Derrick Morton, Douglas Pearson, and Christian Oestlien. All three are casual games industry veterans who have worked in various executive, product and engineering roles at companies like iWin.com, VivendiUniversal, GameHouse and RealNetworks.
About FlowPlay, Inc.
FlowPlay is a developer of online entertainment products and technology founded in November 2006. The company aims to bring a bold new vision to casual gaming by creating community platforms where people of all ages can play games and be entertained together.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing, and cleantech. Since 1991, Intel Capital has invested more than US$6 billion in approximately 1,000 companies in more than 40 countries. In that timeframe, about 157 portfolio companies have gone public on various exchanges around the world and another 187 have been acquired by other companies. In 2007, Intel Capital invested about US$639 million in 166 deals with approximately 37 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About ASI
Ambient Sound Investments (ASI) was established by the former founding engineers of Skype. ASI is investing shareholders' equity in start-ups offering innovative technology. Since March 2006 the company has invested in companies in telematics, biotechnology, power electronics and internet services. For more information, please visit: www.asi.ee
For More Information Contact :
"Casual gaming is poised for further growth and ripe for innovation," says Mike Buckley, director of Strategic Investments, Intel Capital. "With its experienced management team, solid core technology and unique approach to this space, FlowPlay is well positioned to provide unique gaming solutions to this expanding market segment."
"We're very pleased to have both Intel Capital and ASI as investors," says Derrick Morton, CEO of FlowPlay. "Intel Capital has incredible industry relationships and a deep understanding of the future of interactive entertainment. The principals of ASI know what it takes to build a startup into a multibillion dollar company. You couldn't ask for a better combination."
Over the past several months, FlowPlay's team of artists and engineers has developed a rich virtual environment that will present an entirely new way to play casual games. FlowPlay's uniquely shardless server infrastructure and proprietary avatar technology will allow game players to create 3D style characters in a deeply engaging Flash environment.
FlowPlay was founded by Derrick Morton, Douglas Pearson, and Christian Oestlien. All three are casual games industry veterans who have worked in various executive, product and engineering roles at companies like iWin.com, VivendiUniversal, GameHouse and RealNetworks.
About FlowPlay, Inc.
FlowPlay is a developer of online entertainment products and technology founded in November 2006. The company aims to bring a bold new vision to casual gaming by creating community platforms where people of all ages can play games and be entertained together.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing, and cleantech. Since 1991, Intel Capital has invested more than US$6 billion in approximately 1,000 companies in more than 40 countries. In that timeframe, about 157 portfolio companies have gone public on various exchanges around the world and another 187 have been acquired by other companies. In 2007, Intel Capital invested about US$639 million in 166 deals with approximately 37 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About ASI
Ambient Sound Investments (ASI) was established by the former founding engineers of Skype. ASI is investing shareholders' equity in start-ups offering innovative technology. Since March 2006 the company has invested in companies in telematics, biotechnology, power electronics and internet services. For more information, please visit: www.asi.ee
For More Information Contact :
