AUSTIN, TX&LOS ANGELES, CA– July 15, 2010– Gendai Games, makers of the GameSalad game creation tool allowing non-programmers to create advanced games for the iPhone and iPad, today announced that it has closed its Series A round of venture capital financing. The round was led by DFJ Mercury and includes co-investment from Steamboat Ventures, DFJ Frontier and ff Asset Management as well as individual investors Paul Bricault, Paige Craig, Tom McInerney, Josh Resnick and Mark Suster.
“Gendai Games provides a paradigm shift in casual game development,” said Blair Garrou, managing director, DFJ Mercury.“Our firm is attracted to the simplicity and elegance of the GameSalad toolset, and is impressed by the company’s traction to date.”
The launch of GameSalad -- a powerful, accessible, and amazingly fast game creation toolset that publishes to the iPhone and iPad App Store -- has quickly established Gendai Games as a unique and leading gaming company. GameSalad has been downloaded more than 70,000 times and in the nine months since the launch of its iPhone publishing service, GameSalad has powered over 800 titles in the iTunes App Store. GameSalad has been used to consistently deliver top-100 ranked games such as Asplosion! HD and Doodle Cannon to the mobile marketplace. Many of these games have been taken rapidly to market, such as the iTunes-featured game Stunt Squirrels!, which was created and published in two weeks by only one designer at Fire Maple Games.
“Brands are continually looking to extend their customer experience into games and other forms of interactive media,” said Beau Laskey, managing director of Steamboat Ventures. "We believe Gendai Games provides a compelling option for creative professionals and developers to dramatically accelerate and simplify the development of sophisticated casual games, which helps to reduce total costs and turn-around time for development studios.”
"Games are a powerful means of interactive expression. We believe that game creation should be democratized so that anyone from any age or culture can participate," said Michael Agustin, CEO and co-founder of Gendai Games.“With this new round of funding, Gendai Games looks to expand our talented team, and take advantage of the ever-expanding capabilities of mobile computing.”
As five billion cell phones worldwide are replaced with a new generation of intelligent mobile devices, Gendai Games has positioned itself to be the leading provider of innovative media creation solutions that change the way people learn, consume, and play. Gendai Games is continuing to develop tools that allow users to create content that takes advantage of the latest mobile hardware and provide unparalleled support for Apple's iOS platform. This was evident in their latest release of GameSalad which fully supports Apple's new iAd platform and high-resolution graphic output for the iPhone 4’s revolutionary Retina Display.
About Gendai Games, Inc.
Gendai Games is a new kind of game company that blends powerful, accessible, and rapid game creation technologies with independent publishing. Gendai Games' flagship product is GameSalad, a game creation system for creative professionals. GameSalad enables non-programmers to create sophisticated 2D casual games for Apple's mobile iOS platforms, such as the iPhone and iPad. Gendai Games was founded in 2007 by Michael Agustin, Tan Tran, and Dan Treiman, who come from companies such as Apple, Hotels.com, and Epic Systems, and have shipped games for Activision and Three Rings Design. For more information, please visit: www.gendaigames.com
About DFJ Mercury
DFJ Mercury is a seed and early-stage venture capital firm focusing on investment opportunities in the midcontinent. Headquartered in Houston, Texas, DFJ Mercury invests in compelling and novel start-up opportunities in information technology, advanced materials and bioscience. With over $100 million under management, DFJ Mercury seeks to partner with extraordinary entrepreneurs to build globally competitive businesses. Our team has broad experience and relationships with tech transfer offices and regional technology incubators. DFJ Mercury is a Partner Fund in the DFJ Global Network of venture capital firms. For more information, please visit: www.dfjmercury.com
About Steamboat Ventures
With offices in Los Angeles, Shanghai and Hong Kong, Steamboat Ventures is a global venture capital fund that invests in digital media, consumer and technology companies in the U.S. and Asia. Steamboat Ventures pursues a distinctive investment strategy, cultivating investment opportunities that are simultaneously financially promising and also possess the potential to have significant strategic interest to The Walt Disney Company. Founded in 2000, Steamboat Ventures has invested in a range of leading digital media and consumer technology companies, including: Fastclick (acquired by VCLK), Iridigm Display Corporation (acquired by QCOM), Pure Digital Technologies (acquired by CSCO), Quigo Technologies (acquired by TWX), Freewheel, Baynote, and Duowan. For more information, please visit: www.steamboatvc.com
About DFJ Frontier
Headquartered in Los Angeles, DFJ Frontier is a venture capital firm that invests in seed and early stage companies on the west coast. DFJ Frontier backs passionate entrepreneurs in a broad array of industries, including information technology, life sciences, clean technology, and other emerging businesses. The firm typically leads the first round of investment, taking an active role to help entrepreneurs build extraordinary businesses. DFJ Frontier is a Partner Fund of Draper Fisher Jurvetson and has offices in Los Angeles, Portland, Sacramento and Santa Barbara. For more information, please visit: www.dfjfrontier.com
About ff Asset Management
ff Asset Management is focused on companies that can be the low cost disruptive player in their industry. These companies, coupled with the right management team and adequate financing, have the chance to grow significantly and become tomorrow's leaders. The firm targets market entry opportunities with initial investments below $1 million. ff Asset Management president John Frankel has served on a number of boards including Alerts.com, ClearPath Immigration, The Goldman Sachs Trust Company, Klout, Patents.com, Quigo Technologies. StrongTech and Track.com, and is a member of the board of advisors of Phone.comand OrcaOne. For more information, please visit: www.ffassetmanagement.com
# # #
Director of Marketing