Online Gaming Site Ujogo Raises $1 Million In First Round; Buys Gaming Everywhere

Free online gaming site Ujogo has raised about $1 million in a first round financing from undisclosed investors, VentureBeat reported. The site, which is aimed at both casual and competitive online gamers, just launched in beta mode. The Silicon Valley-based company hopes to raise between $5- to $9 million within the next six months.

As a free gaming and poker site, Ujogo (the name is Portuguese for “game”) will use the “tournament prize model.” Additionally, the company estimates that about 40 percent of online poker players are women and it plans to target that demo with prizes of jewelry and gift cards. At the tournament level, which is expected to include a thousand players, the winner could receive a prize worth about $150 dollars, with smaller prizes for the top 29 players.

The company is headed by Eric Gonzales, a former venture capitalist at DCM. Apart from the financing, Ujogo has acquired Gaming Everywhere, a developer of multi-player games software for web browsers and mobile devices. Terms of the acquisition were not disclosed. Release

Comments have been disabled for this post