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 Zu Online  Publisher IGG Raises Over $ 10 Million in Series B Financing

Zu Online Publisher IGG Raises Over $ 10 Million in Series B Financing Exclusive

December 9, 2008 | By Mathew Kumar

December 9, 2008 | By Mathew Kumar
More: Console/PC, Exclusive

Online game publisher/operator IGG (Zu Online, Aurora Blade) says it's finished a round of Series B financing with funding "in excess of $10 million" from two venture capital firms and an existing investor.

The company will use the funds to "bolster international capabilities," according to COO Kevin Xu. It'll expand sales and marketing in Asia and Europe, establish strategic partnerships with developers and publishers internationally, explore new regions and languages, and further the development of in-house titles.

IGG launched its first MMORPG in May 2006, and has released and operated eight MMORPGS with eight million registered users to date.

The funding was led by Vertex Group and joined by Hearst Interactive Media and IDGVC.

"The global experience of Vertex will greatly bolster our international capabilities, and Hearstís vast connection in the media world is the perfect support that we need to expand our business globally," says Xu. "Itís great to have our original funding partner IDG on board again as well." said Xu.

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