FOR IMMEDIATE RELEASE
PLAYFIRST RAISES $16.5 MILLION IN SERIES C FINANCING
DCM Joins Mayfield, Trinity and Rustic Canyon to Fund Leading Casual Games Publisher
SAN FRANCISCO – December 19, 2007 – PlayFirst, Inc., a leading publisher of casual games, today announced that it has raised $16.5 million in its Series C financing round led by DCM. Existing investors, including Mayfield Fund, Trinity Ventures and Rustic Canyon Partners, also participated in the round. Previously, PlayFirst raised a total of $10 million in its Series A and B rounds, bringing the current total of venture capital raised to $26.5 million.
“Since its founding in 2004, PlayFirst has been a driving force in the explosive casual games industry,” said Peter Moran, general partner, DCM. “The company’s initial success with microtransactions this year has demonstrated that PlayFirst is among the smartest, savviest and most visionary companies in casual games. With a number of immediate opportunities to expand on its new business model – and their ability to create strong intellectual property like Diner Dash® – PlayFirst is in position to continue its leadership role in this dynamic space.”
PlayFirst plans to use the funding to accelerate both web and game development and to satisfy the increasing and ever-evolving demand for high-quality casual game experiences. Based on the initial success from new business models and new brands including Chocolatier®, Dream Chronicles™ and Wedding Dash™, PlayFirst will continue to expand and shape the casual games market.
“PlayFirst has a history of breaking new ground and with our introduction of virtual goods into Diner Dash we continued that trend in 2007,” said John Welch, CEO and president, PlayFirst. “We are thrilled to have the backing of DCM and the continued support of our existing investment partners to help us grow the casual games industry into the mass-market, highly profitable business that industry insiders and analysts expect it will be.”
According to analyst firm DFC Intelligence, the casual games/online games market is expected to reach $2.2 billion by 2012. David Cole, analyst, DFC Intelligence, said, "Innovative companies willing to diversify platforms, create quality content, move beyond the $20 business model and introduce innovations like microtransactions to casual games will continue to drive this industry forward.”
For more information about PlayFirst please visit www.playfirst.com. For more information about the Diner Dash franchise please visit www.dinerdash.com.
About PlayFirst, Inc.
PlayFirst is a leading publisher focused on creating shared casual game experiences around lasting original brands. Committed to building casual game play rich in story and character, PlayFirst works with talented internal and external developers to bring mass market games to multiple platforms, including PC, Mac, mobile, handheld and console. The company’s portfolio includes the world-renowned Diner Dash® franchise, as well as top-selling games such as Wedding Dash™, Chocolatier®, and Dream Chronicles™. Founded in 2004, PlayFirst is funded by Mayfield Fund, Trinity Ventures, Rustic Canyon Partners and DCM. For more information visit www.playfirst.com and www.dinerdash.com.
About DCM
DCM is an early stage venture capital firm supporting entrepreneurs building world-class technology companies. The firm’s partners manage US$1.6 billion and have funded leading technology companies including 2Wire, 51job (Nasdaq: JOBS), @Motion (Openwave), About.com (The New York Times Co.), All About (Jasdaq: 2454), Arroyo (Cisco), Clearwire (Nasdaq: CLWR), Dang Dang, eDreams (TA), Foundry Networks (Nasdaq: FDRY), HireRight (Nasdaq: HIRE), Internap (Nasdaq: INAP), IPivot (Intel), JCI (Nasdaq Japan - Hercules: 9424), Neopath Networks (Cisco), Neutral Tandem (Nasdaq: TNDM), nQuire (Siebel), PGP Corporation, Recourse Technologies (Symantec), Sigmatel (Nasdaq: SGTL), SMIC (NYSE: SMI), Sling Media (EchoStar), Trion World Network, Inc., and Vimicro (Nasdaq: VIMC). DCM offers hands-on operational guidance and access to an extensive network of resources, including close relationships with many of the Pacific Rim’s leading companies and investors. For more information, please visit DCM’s website at www.dcm.com.
PlayFirst, the PlayFirst logo, Diner Dash, Chocolatier, Dream Chronicles and Wedding Dash are trademarks of PlayFirst, Inc. PlayFirst, the PlayFirst logo, Diner Dash and Chocolatier are registered trademarks in the U.S.
Press Contacts:
Caitlin Davis
Three-Forty for PlayFirst, Inc.
(415) 644-5830
Kirem Marnett
PlayFirst, Inc.
(415) 874-2665
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