Blog Post

For Virtual Startups, There Are VC Funds Aplenty

If there is an economic crisis, then it isn’t impacting any of the startups making virtual goods, online games or virtual worlds. In just the last month alone, three companies have raised mega-millions from venture capitalists.

  • Greystripe, a games-related advertising network, raised another $5.5 million in funding, bringing its total to $15.6 million. We have covered them in the past.
  • SuperSecret, a San Francisco-based online social gaming company, raised $10 million in Series A funding led by Opus Capital. They are targeting the tween market and hoping kids graduate from Club Penguin or Webkinz to their offering.
  • Offerpal, a startup that links virtual currency to real-world marketing deals, raised a whopping $15 million in funding late last month from D.E. Shaw Ventures and others.

The investor interest in these startups mirrors the growing popularity of social games and virtual worlds, especially among younger web users.

6 Responses to “For Virtual Startups, There Are VC Funds Aplenty”

  1. partywedo

    I think that there will be great opportunities to profit from leisure activities for years to come. All demographics are finding fun things to participate in online and leaving the TV behind. That leaves a big space to fill in the entertainment space. VCs shouldn’t ignore this trend and the associated spending that follows it. Just think what will happen when the Baby Boomers finally find their online leisure activity.