Casual developer Three Rings (Puzzle Pirates, Bang Howdy) has raised $3.5 million in a venture capital funding round last summer, as it looks to expand its development efforts into social virtual worlds, according to a new report.
Casual developer Three Rings (Puzzle Pirates, Bang Howdy) announced that it raised $3.5 million in a venture capital funding round last summer. Three Rings CEO Daniel James revealed the figure to VentureBeat; $3 million was provided by True Ventures, with Chance Technologies and existing investors Amicus Capital and Mercury Capital Partners participating, along with angel investors. Three Rings is best known for its casual game-based online game world Puzzle Pirates, which claims some 3 million users and monetizes primarily on microtransactions, with a tiered subscription model secondary. The company is currently developing a virtual world environment called Whirled, which will be comprised of more socially-oriented game-like features like avatar-based chat, virtual pets and music.
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