Casual games firm scores high capital from mixed sources
San Fransisco-based casual games developer/publisher PlayFirst has raised $9.2m in financing from two separate sources.
$5.2m of the total amount was generated from existing investors including Mayfield Fund, Trinity Partners, DCM and Rustic Canyon Ventures, and $4m in debt financing from Comerica Bank.
“PlayFirst, with its unique combination of best-selling casual game titles and emotionally engaging content, is well-positioned to thrive in today’s quickly growing market for social and mobile games,” said general partner of Trinity Partners Gus Tai.
“We see tremendous market opportunity ahead and PlayFirst will continue to be part of that story.”
PlayFirst has said that the funds will be used to finance continued expansion into the mobile and social games markets. As part of this move, the firm recently announced the hiring of PlaySpan vet Eric Hartness as VP and general manager of social games.
“This financing enables us to keep our focus on the opportunities in the mobile and social gaming sectors and provides the flexibility to quickly respond to changes and opportunities as the market continues to shift rapidly,” said PlayFirst president and chief executive Mari Baker.
“With this capital, we will continue to aggressively optimize the PlayFirst brands that consumers love, like Diner Dash, to social and mobile platforms and look for growth through partnerships and potential acquisitions.”