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Summary:

Popular online golf game World Golf Tour has raised $10 million in a third round of funding, which the company says demonstrates that “inves…

World Golf Tour

Popular online golf game World Golf Tour has raised $10 million in a third round of funding, which the company says demonstrates that “investors believe online sports to be a big growth area.” Have to say, however, that it’s been rare lately to see stand-alone game sites like World Golf Tour raise rounds; most of the cash being invested in the gaming space right now is going into startups that have built their games on top of social networks.

Granted, even World Golf Tour isn’t completely immune to the craze. CEO Yuchiang Cheng tells Venturebeat that the company will use some of the new cash to launch a basic version of its game on Facebook — although he emphasizes it’s designed to be a marketing channel for the game website.

The funding brings World Golf Tour’s total backing to more than $20 million. The startup had most recently raised a round in the “double digit” millions in May 2008 from Panorama Capital and Battery Ventures. This round is coming from JAFCO Ventures.

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  1. Stephen Tones Monday, May 24, 2010

    A total of $27 million for a flash game that’s been in beta for almost three years … just astounding. You would guest venture capitalists would recognize a money pit when they see one ,,, guess not.

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