Contact Information: Press Contact: Jason Throckmorton or Corey Lewis LaunchSquad (415) 625-8555 mochimedia@launchsquad.com
Mochi Media Closes $10 Million in New Funding
Series B Round Will Help Company Grow Platform for Web Game Developers
| Source: Mochi Media
SAN FRANCISCO, CA--(Marketwire - June 19, 2008) - Mochi Media announced today the close
of a $10 million Series B round of financing, led by Shasta Ventures with
support from previous investor Accel Partners. Mochi Media will use the
money to continue to grow and scale its platform of tools and services for
the game development community.
"Since Mochi Media entered the marketplace in 2005, they have been a
disruptive and driving force in the Web
gaming space," said Jason Pressman, partner at Shasta Ventures. "We see
tremendous promise in the solutions they offer to brand advertisers and game developers. Mochi Media has
cracked the code in the gaming market by providing these developers with
tools to monetize and distribute games to a highly desirable audience."
Mochi Media has seen significant momentum since its initial round of
funding. MochiAds, the company's
flagship game distribution and ad network, now reaches over 60 million
unique users per month since its October 2007 launch. MochiBot, the
company's Flash analytics product, tracks over 650 million views per month
for thousands of users. Mochi Media also recently announced MochiAds For
Publishers, a free service that allows publishers to search, add and make
money from the company's catalog of high quality games. In less than a
month, more than 700 publishers have signed up for the service. The company
has also added top veteran executives to its management team over the last
couple of months including former Yahoo! executive Eric Boyd and former
MySpace VP of Sales Carol Werner.
"In the past year we have established a strong management team and coupled
it with a strong and scalable technology platform. We have relationships
with thousands of game developers,
and with them we are able to provide advertisers extensive reach to an
engaged gaming audience," said Mochi Media CEO Jameson Hsu. "This capital
will help us move forward in key areas of our business and further
accelerate our leadership position and growth in the monetization,
analytics and distribution of games."
Mochi Media's core offering is MochiAds, an advertising network for online games. Independent developers of
Web games leverage the MochiAds technology to insert pre-game and
inter-level advertisements into the games they create, and receive a
revenue share of the ad income. Games reach a wide audience as they spread
across the Internet as they are linked and shared through different sites,
or distributed through publisher partners. Advertisers wanting to reach the
one in three Internet users playing games online can buy advertisements
targeted by criteria such as domain, game category and geography.
About Shasta Ventures
Shasta Ventures is an early-stage venture capital firm investing in
technology-enabled businesses serving consumers and enterprises. Located in
Menlo Park, Calif., Shasta Ventures manages $460 million. Shasta was formed
in 2004 by venture capital veterans and invests across consumer and
business services, infrastructure and software. For more information on
Shasta Ventures, please visit www.shastaventures.com.
About Accel Partners
Founded in 1983, Accel Partners has a long history of excellence and
innovation in the venture capital business and is dedicated to partnering
with outstanding entrepreneurs and management teams to build world-class
technology businesses. Accel today invests globally with offices in Palo
Alto, California and London, as well as in China via the IDG-Accel
Partnership. With over $4 billion under management, Accel has helped
technology entrepreneurs build over 300 successful companies, many of which
have defined their categories include Admob, Actuate, Acopia, Agile
Software, Alfresco, AMCC, Arrowpoint, BBN, Brightcove, ComScore, Etsy,
Facebook, Foundry Networks, GlamMedia, Imperva, Infinera, Interwoven,
JBoss, Kayak, Macromedia, Maven Networks, metroPCS, Polycom/PictureTel,
Portal Software, QlikTech, Rapt, Real Networks, Redback Networks, Riverbed,
UUNet, Veritas, Walmart.com, Webroot, Wily Technology, XenSource and
Zimbra. For more information, visit the Accel Partners web site at
www.accel.com.
About Mochi Media
Mochi Media is dedicated to fueling the creativity of the gaming community.
The core product, MochiAds, is the largest online games advertising network
for developers, advertisers and publishers. The network provides game
developers with monetization, distribution and analytics while providing
advertisers with turnkey opportunities to reach the one in three Internet
users playing games online. The thousands of online games available in the
game catalog provide publishers with engaging content to attract, entertain
and retain their users. Mochi Media is headquartered in downtown San
Francisco.