Previous Post
Reston, Virginia based mobile gaming startup, Mpowerplayer, has raised an amount of $2.5 million in the first round of funding, Startup Meme has learned. The amount will be utilized to expand the business on several different social networks in the form of widget/app.
The current round of funding was participated by New Atlantic Ventures, the Center for Innovative Technology GAP Fund and LaunchBox Digital. Following is the press release regarding the Series A funding.
CTIA, San Francisco, CA – September 10, 2008 – Mpowerplayer, the leading provider of mobile game trial and merchandising solutions for the wireless industry, announced today that it has secured $2.5 million in Series A funding. The round includes investments from New Atlantic Ventures, the Center for Innovative Technology GAP Fund, and LaunchBox Digital.
The funding comes at a time of heightened interest in the mobile game industry, following Apple’s successful launch of its App Store for iPhone, and with Apple’s rivals seeking to follow suit.
“70 percent of online consumers play games in their web browser, but less than 5 percent play games on their mobile phone,” said Michael Powers, CEO of Mpowerplayer. “Every one of these people carries a game console in their pocket, but they need to discover what they can do with it.”
Mpowerplayer will use the capital infusion to accelerate adoption of its widget-based mobile game catalog on the leading social networks and game-oriented community web sites. “Casual web gamers are a hugely under-served market for mobile content and we are uniquely positioned to bridge that gap,” added Powers.
The company’s current customers include leading wireless carriers and mobile game publishers, such as EA Mobile and Sega Mobile, which use Mpowerplayer’s web-based technologies to power their own demo applications. Mpowerplayer’s turnkey platform makes it easy for consumers to find, try and buy mobile games and applications online.
Mpowerplayer will be exhibiting at Booth #634-F in the M-tainment Pavilion at CTIA Wireless I.T. & Entertainment 2008 on September 10-12, 2008, at the Moscone Center in San Francisco, California. For more information on Mpowerplayer or to see their “try and buy” technology in action, please visit www.mpowerplayer.com.
