Mill Valley, CA-based Sparkplay Media, a developer of 3D browser-based MMOs, has raised a $4.25 million first round from Redpoint Ventures and Prism Ventures. The company, which has been bootstrapped heretofore, will use the funds to build out its first game, Earth Eternal. It claims its platform combines traditional gameplay with social networking, a similar pitch as Rocketon, which recently raised $5 million. CEO Matt Mihaly founded Iron Realms Entertainment and is a MMO industry veteran. Release.