Trion World Network Secures Another $70 Million
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SEPTEMBER 23RD, 2008: TRION WORLD NETWORK, PUBLISHER AND DEVELOPER OF BROADBAND GAMES, RAISES $70 MILLION
Trion World Network Inc. (Trion) announced today it has closed a $70 million Series C funding round. Since its formation in 2006, the company has raised more than $100 million - which is one of the largest amounts raised by gaming companies in recent history - from world-class venture capital firms and leading global media companies. The new funding, together with the company's strategic entertainment and technology partnerships, positions Trion as an emerging leader in the publishing and development of server-based games.
The new round was co-led by a large global financial institution and Act II Capital. All previous investors also participated in the round, including first-round participants DCM and Trinity Ventures, and B-round investors Rustic Canyon, Time Warner, Peacock Equity - the joint venture between GE Commercial Finance's Media, Communications & Entertainment business and NBC Universal - and Bertelsmann.
"Trion is a pioneer in the video game market and we have been closely watching them develop into a world-class publisher and developer," said Gus Tai, general partner, Trinity Ventures. "By participating in this new round of funding, we remain committed to helping them succeed and believe in their recipe, which combines powerful technologies, a seasoned executive team, and a rich pool of talented industry veterans to create something new and revolutionary."
Lars Buttler, Trion co-founder and CEO, said that the latest round of funding represents a continued vote of confidence in the company's technology and approach to interactive entertainment.
Industry insiders increasingly acknowledge the fact that the electronic entertainment industry is fundamentally being transformed by broadband. "This signifies a shift away from static retail products and towards games as dynamic services, which will be simulated increasingly 'in the cloud'," said Buttler. "With its industry-defining server-based games platform, worldwide publishing capabilities, an ever-growing network of AAA development studios, unrivaled partnerships in media and technology, and now significant capital in the bank, Trion is uniquely positioned to be a leader in the next cycle of electronic entertainment."
Trion was founded in 2006 by two industry veterans: Lars Buttler, former vice president for Global Online at Electronic Arts, and Jon Van Caneghem, a member of the Computer Gaming World Hall of Fame and creator of the best-selling Might and Magic and Heroes franchises. Trion has assembled a world-class team at its offices in Redwood City, Calif., San Diego, and Austin, TX.
"Trion's server-based games model is driving the future of interactive entertainment," said Peter W. Moran, a general partner of DCM. "Trion is liberating games and other forms of digital entertainment by taking them out of the package and putting them online where they constantly evolve for the end-user. Benefits for gamers, developers and publishers are seemingly endless."
Trion has already announced two titles in development, to be published by Trion in North America and Europe: their first game, a fantasy massively multiplayer online role-playing game helmed by legendary designer Jon Van Caneghem; and a massively multiplayer online game co-developed in partnership with NBC Universal's SCI FI Channel.
"Trion is set to redefine today's electronic entertainment sector through its ability to develop compelling broadband-connected games, innovative entertainment content and strong business relationships like its co-development deal with the SCI FI Channel," said Tom Byrne, managing director and group head, Peacock Equity. "We are focused on gaming as an attractive space and are pleased to deepen our relationship with Trion as they bring together the best of gaming, the Web and television."
About Trion World Network
Trion World Network, Inc. is the publisher and developer of games and original entertainment for the connected world. Trion provides groundbreaking new capabilities and content to revolutionize global entertainment by combining the best elements of online, gaming, and traditional media. Headquartered in Redwood City, Calif., and with development and technology studios in Austin, TX, and San Diego, Trion combines unrivaled experience and vision in the online entertainment industry with a world-class team of Internet and gaming veterans. Privately held, Trion investors include Act II Capital, Time Warner, Peacock Equity - the joint venture between GE Commercial Finance's Media, Communications & Entertainment business and NBC Universal - Bertelsmann, Rustic Canyon, DCM and Trinity Ventures. For more information, please visit www.trionworld.com.
