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Online community games provider Outspark receive $11m USD funding

Rachel Hawkes (Social Media Portal) - 11 January 2008

Outspark, publisher of free online community games  has today received $11 million USD in Series B funding from Tencent Holdings, Doll Capital Management (DCM) and Altos Ventures.  
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Altos and DCM participated in first round funding of $4 million in April 2007.  

Outspark have offices in both South Korea and The United States.  Their goal is to ignite a following of English-speaking Asian-styled multi-player games and the new investment will be used for growth, expansion and enhancement.

Tencent Holdings is one of China's leading online portals and a popular instant messenging service.  Senior execuitve vice president, David Wallerstein comments, "Online gaming has become one of the most important new cultural phenomena in Asia, and we believe that PC-based online games will find a huge market here in North America as well. Outspark is off to a great start in building a strong user community with its titles."

Susan Cho, Outspark founder and CEO paints the companies vision, "It’s an exciting time for the online gaming industry as it quickly becomes mainstream entertainment.  At Outspark, our vision to provide a leading virtual playground for all gamers is rapidly gaining recognition from the gaming community. We look forward to providing even more interactive online entertainment for our growing audience.”

Outspark have received over one million users in under five months.

“We’re happy to see Outspark’s strong team deliver on their promise to revolutionize online entertainment in North America.  It’s a great time to be involved in this industry,”  concludes Han Kim, general partner and co-founder of Altos Ventures.



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