IGG Obtains Series A Financing
IGG Inc., ( www.igg.com) a world-class MMORPG (Massive Multiplayer Online Role-Playing Game) provider, announced today the completion of a $4.5 million round of Series A funding led by IDG Technology Venture Investment (IDGVC Partners).
Dedicated to serve worldwide players with the best interactive online games, IGG Inc. launched its first MMORPG in May 2006. Since then, IGG has successfully released and operated 6 MMORPGs through www.igg.com. With over 3.5 million registered users as of Q3 2007, IGG has established its reputation as a world-class publisher meeting the demand of players of different ages and favors in both North America and Europe.
Besides publishing a portfolio of numerous licensed games running the gamut from action to fantasy, IGG also grows a talented development team to design and develop its own games to contribute to the interactive MMOG world. The new funds will be used to expand global sales and marketing, to implement strategic plans, and to further the development of more innovative and entertaining games. Furthermore, the funds will be used to market games in more regions and for player of different languages. IGG believes that, by growing together with the global business and technology partners as well as the royal users, it will become a key player in the online gaming world in the foreseeable future. .
About IDGVC Partners:
IDG Technology Venture Investment (IDGVC Partners) was founded in 1992 with offices in Beijing, Shanghai, Guangzhou, Boston, and the Silicon Valley. As one of the earliest American venture capital firms to enter the Chinese market, IDGVC Partners has established a leading role in the industry with an aggregate of US$1.0 billion capital under management.
IDGVC Partners invests in early-to-growth-stage companies with focus on hi-tech related sectors such as the Internet, telecommunications, wireless communications, digital media, IC, and life science. It has an investment portfolio of 100 start-up companies, including CTrip, Sohu, Baidu, China Finance Online, Tencent, and Kingdee, 30 of which have completed public offerings or successful mergers.
Having gained enormous support from International Data Group (IDG) and ACCEL Partners, IDGVC Partners has also a professional team having worked together seamlessly for more than ten years, longer than any other venture capital team in China. It provides its portfolio companies with strong support in not only capital but also technical experience, networking opportunities and managerial experience.