Ultizen secures $6 million VC funding
Wednesday, 6th August 2008 at 2:57 pm
Chinese outsourcer will use money to further growth 'through acquisitions'
Outsource specialist and game developer Ultizen Games has rounded up $6 million in Series B funding.
Lead by Taiwanese VC firm PAC-LINK and supported by Japan Asia Investment Co. and CyberAgent, the funds will be used by Ultizen to continue its rapid growth.
And rapid it is - within the first year the studio went from 70 to 350 people, and is now an official Xbox Live Arcade developer in addition to its other game design, porting, programming and art services.
“China has become the biggest game development and art outsourcing market in recent years and we believe the market will continue to grow exponentially in the near future," said PAC-LINK general partner Allen Hsu.
"With the advanced technology and more than 350 talented developers, Ultizen has the potential to become the market leader in the industry. In addition, the web-based casual game industry has shown tremendous growth. As an early mover in this segment, we believe that Ultizen will become a dominant player and, moreover, have great potential to expand from a developer into an influential publishing and operating company in this segment.”
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