Earth Eternal Gets $4.25 Million In Venture Capital

Sparkplay Media - the developers of Earth Eternal - have announced $4.25 million in new money from Redpoint Ventures and Prism Ventureworks. The new VC will help the company expand its platform and MMO businesses.

Sparkplay Media Closes $4.25m Series A

Mill Valley, CA, February 13, 2008 - Sparkplay Media Inc. announced today that it has secured $4.25 million in financing from Redpoint Ventures and Prism Ventureworks. The company plans to use the capital to expand development of its browser-based massively multiplayer 3D games platform and of its first MMO, Earth Eternal.

"We've been self-financing, and thus bootstrapping, for two years now and are incredibly excited about the chance to expand and accelerate our plans. We're developing a different kind of game: one that combines compelling traditional MMO gameplay with new experiences that can be shared with friends on social networks and beyond. " said Matt Mihaly, CEO of Sparkplay Media.

"We're also very happy to have the great people at Redpoint and Prism backing us up. It's gratifying that they share our vision of where MMOs and virtual worlds are heading and are willing to give us the chance to prove that vision to the market," continued Mihaly.

Fouad ElNaggar, who sits on Sparkplay's board for Redpoint, said, "What Matt and his team are creating immediately sparked our interest. There are lots of teams out there trying to build the next big thing in games - we've met many of them! Sparkplay was rare in that they combined a proven ability to create compelling content that drives purchasing with the type of forward-looking thinking that will be required for a new gaming experience to achieve escape velocity with consumers."

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