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Game Trust Closes $9 Million Series B Financing


Submitted by thankeeka on November 20, 2005 - 12:01pm.

TWJ Capital and NJTC Venture Fund Lead Round for the World's No. 1 Casual Game Infrastructure Company.

NEW YORK, NY-November 15, 2005 - Game Trust, the leading infrastructure provider for premium online casual games, announced today that it closed an oversubscribed $9 million Series B financing. The round was led by TWJ Capital and NJTC Venture Fund, and was joined by Patriot Capital. Series A investors, including CSK Ventures, Topspin Partners, Silicon Alley Venture Partners, Draper Associates and Elon Musk, also participated in the round.

The proceeds from the financing will be used to expand operations in North America and Europe, as well as to enter Asian markets, in response to heightened global licensing demand. In addition, the Company will be expanding the number of casual game titles integrated with its Game Frame platform to over 150 by the close of 2006. In order to address these growth opportunities, Game Trust has recently added 9 new team members and is hiring 10 additional executives.

"Demand for the Game Frame platform has exceeded our expectations," said Adeo Ressi, CEO of Game Trust. "Properties ranging in size from large portals to blogs have been deploying community- and commerce-enabled casual games from Game Trust in record numbers, and the Company is fielding dozens of incoming sales requests per week. Game Trust is now focused on building an organization that can service global demand. Our vision is to be the standard for community and premium play in casual games."

"We are very excited about Game Trust's technical leadership in the casual game arena," said Robert Chefitz, General Partner of NJTC Venture Fund. "We believe that the industry's future growth will demand the multi-player, community oriented experience that Game Trust provides."

Game Trust is the driving force of innovation in the fast growing casual game sector. Its Game Frame platform adds profile data, rating, avatars, chat, and instant messaging, as well as subscription, tournament, and virtual merchandise models, to a casual game offering. The platform is licensed by leading destination websites, including Shockwave.com and MiniClip.com, and more than two dozen casual game developers. Game Trust's LaunchNow program has allowed thousands of self publishers to incorporate community-enabled arcades on their personal websites, blogs, and forums.

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