Wednesday, October 19, 2011

New Social Games Company Crowdpark Secures US$8M in Funding from Target Partners & Earlybird

Crowdpark, the leading developer focused on social betting games, today announced it has secured approximately $6M USD (€4M) in new equity funding from top European investors Target Partners and existing investor Earlybird Venture Capital. This brings the total amount of funding raised in all rounds to approximately $8M USD. The funding aims to further fuel Crowdpark's significant growth via hiring and product development for its cross-platform social games. Waldemar Jantz, partner at Target Partners, will also join the board of Crowdpark. To visually illustrate this news, please see the Crowdpark infographics.

Crowdpark brings legal betting to the world of social gaming. Unlike any other social games company, its new betting model allows users to compete against each other in betting events, using virtual currency. Crowdpark has pioneered social betting, applying its patented "dynamic betting" technology that enables forecasts in social gaming in real-time similar to how people play the stock market. Crowdpark products offer players the opportunity to bet on real life events in sports, entertainment, business, politics and other topics. For more information about Crowdpark's approach to betting, see the "Dynamic Betting: The Technology Behind Crowdpark's Social Betting Engine" white paper.

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