July 9, 2007: TRION WORLD NETWORK, PUBLISHER AND DEVELOPER OF CONNECTED GAMES AND ENTERTAINMENT, RAISES 30 MILLION FROM GLOBAL MEDIA GIANTS, TOP VCs
Venture Capital Firm Rustic Canyon Leads Round; Time Warner, GE/NBC Universal's Peacock Equity, and Bertelsmann AG's BDMI Invest, Endorse Trion's Leading Role in Defining Games and Entertainment for the Connected Era
Trion World Network, Inc. (Trion) has raised 30 million dollars of funding in its latest round led by Rustic Canyon Partners, the LA-based VC firm with strong ties to the media and entertainment industry. Time Warner, a leading media and entertainment company, GE/NBC Universal's Peacock Equity Fund, as well as Bertelsmann Digital Media Investments (BDMI), a unit of global media company Bertelsmann AG, Europe's leading entertainment group, invested side-by-side, strengthening Trion's unique ability to bring a new level of original entertainment to the Broadband era on a global scale. Existing Trion investors, DCM and Trinity Ventures also participated.
"Receiving the backing of three of the world's top five media companies and three top VCs is an exceptional endorsement and provides Trion with unrivaled access and support that further strengthens our unique position in defining the future of connected games and entertainment," commented Lars Buttler, CEO and co-founder of Trion.
Trion will utilize the additional funding and relationships with the media stalwarts and content IP owners to develop and publish new connected games and entertainment franchises. Nate Redmond, Partner at Rustic Canyon, will join the board.
"The global media and entertainment industry is entering a disruptive cycle," Nate Redmond, Rustic Canyon, said. "Trion is uniquely positioned to define the future standard for dynamic games and entertainment across connected devices, by leveraging innovative technologies to build premium content channels around live programming. Rustic Canyon is pleased to be working with the top talent assembled at Trion to bring a new model to this large opportunity."
"Trion's network service model for connected entertainment has the potential to dramatically impact how our industry creates and monetizes content and how consumers participate in the entertainment experience," noted Rachel Lam, senior vice president, Time Warner Investments.
Trion's mission is to revolutionize entertainment by combining the best of online, gaming and traditional media. By designing and developing powerful new technologies, new content, and new publishing capabilities, Trion is poised to be a leader in the emerging global multi-billion dollar connected entertainment market.
Led by Dr. Lars Buttler, former Vice President for Global Online at Electronic Arts, and Jon Van Caneghem, former founder and CEO of New World Computing and creator of the best-selling Might and Magic and Heroes game franchises, Trion has assembled a world-class team of gaming and online veterans with proven success and talent in business, original content development and technology who have developed and shipped more than 100 original titles.
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, California, and with a Technology Center in Austin, Texas, 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 Time Warner, NBC-Universal, GE, Bertelsmann, Rustic Canyon, DCM and Trinity Ventures.
About Rustic Canyon
Rustic Canyon Partners is an early stage venture capital firm that invests in exceptional entrepreneurs building transformational companies. The investment team works collaboratively, drawing on a diverse set of experiences as successful entrepreneurs, managers, and strategic and financial advisors. With over $900 million in funds under management, Rustic Canyon is one of the largest firms based in Southern California, with strong presence in Silicon Valley and Seattle. Key investment themes include Internet/media convergence, clean technology, technology-enabled services, information services, and wireless and wireline broadband.
About Time Warner Investments
The Time Warner Investments group targets non-control strategic investments that have a clear impact on Time Warner's divisional operations and directly enhance the Company's ability to meet specific strategic goals. Time Warner Inc. is a leading media and entertainment company, whose businesses include interactive services, cable systems, filmed entertainment, television networks and publishing.
About NBC Universal
Peacock Equity (peacockequity.com) is a $250 million equity capital fund founded by GE Commercial Finance's Media, Communications & Entertainment business (geMCE.com) and NBC Universal (nbcuni.com). Introduced in April 2007, the joint venture focuses on companies developing technologies, platforms or business models that are a strategic fit to NBC Universal and have high growth potential. Peacock Equity's capital investments, which include advertising services, digital content and communities, wireless and international platforms, range from $3 to $15 million each.
About Bertelsmann Digital Media Investments (BDMI)
Bertelsmann Digital Media Investments (BDMI) is a strategic venture investor focused on innovative digital media technologies, products and distribution channels across the globe. BDMI is a wholly owned subsidiary of Bertelsmann AG, one of the largest media and entertainment companies in the world with over $25 billion in revenues. With more than 600 individual companies, Bertelsmann AG has significant interests in all areas of media including television, music, books, magazines, direct marketing and media services. For more information, visit: www.bdmifund.com.
About Trinity Ventures
Trinity Ventures, a 20 year veteran in the venture business with more than $1 billion under management, partners with exceptional entrepreneurs to build great companies. Trinity Ventures focuses on early-stage technology investment opportunities with a particular emphasis on the Digital Media, Internet Services, Mobility, Security and Software markets. Trinity has invested in well over 100 ventures, including such leading companies as Aruba Networks (NASDAQ: ARUN), Blue Nile (NASDAQ: NILE), Crescendo Communications, Extreme Networks (NASDAQ: EXTR), Forte Software, Illustra, LoopNet (NASDAQ: LOOP), PhotoBucket (acquired by News Corporation: NWS), Speedera Networks (acquired by Akamai Technologies: AKAM), Starbucks (NASDAQ: SBUX), and Sygate Technologies (acquired by Symantec: SYMC).
About DCM
DCM is an early stage venture capital firm supporting entrepreneurs building world-class technology companies. The firm's partners manage US$1.6 billion and have funded leading technology companies including 2Wire, 51job (Nasdaq: JOBS), @Motion (Openwave), About.com (The New York Times Co.), All About (Jasdaq: 2454), Arroyo (Cisco), Clearwire (Nasdaq: CLWR), Dang Dang, eDreams (TA), Foundry Networks (Nasdaq: FDRY), HireRight (Nasdaq: HIRE), Internap (Nasdaq: INAP), IPivot (Intel), (Nasdaq Japan - Hercules: 9424), Neopath Networks (Cisco), Neutral Tandem (Nasdaq: TNDM), nQuire (Siebel), PGP Corporation, Recourse Technologies (Symantec), RockYou, Sigmatel (Nasdaq: SGTL), SMIC (NYSE: SMI), Sling Media (EchoStar), VanceInfo (NYSE: VIT) and Vimicro (Nasdaq: VIMC). DCM offers hands-on operational guidance and access to an extensive network of resources, including close relationships with many of the Pacific Rim's leading companies and investors. For more information, please visit DCM's website at www.dcm.com.
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