World Golf Tour Gets $10 Million More For Online Golf Game
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Popular online golf game World Golf Tour has raised $10 million in a third round of funding, which the company says demonstrates that “investors believe online sports to be a big growth area.” Have to say, however, that it’s been rare lately to see stand-alone game sites like World Golf Tour raise rounds; most of the cash being invested in the gaming space right now is going into startups that have built their games on top of social networks.
Granted, even World Golf Tour isn’t completely immune to the craze. CEO Yuchiang Cheng tells Venturebeat that the company will use some of the new cash to launch a basic version of its game on Facebook—although he emphasizes it’s designed to be a marketing channel for the game website.
SEE ALSO: EA Banks On Subscription Revs With Tiger Woods Game—Not In-Store Sales
The funding brings World Golf Tour’s total backing to more than $20 million. The startup had most recently raised a round in the “double digit” millions in May 2008 from Panorama Capital and Battery Ventures. This round is coming from JAFCO Ventures.
Posted In: Entertainment, Games, Sports, Money, M&A & Venture Capital, Venture Capital, Social Media, Community, jafco ventures, world golf tour
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