ASTRO Gaming funding
Peripheral maker raises a handy $3.5 million.
SAN FRANCISCO - Jan. 13, 2009
ASTRO Gaming, a premium video gaming equipment company, today announced the closing of $3.5 million in Series B venture funding. Led by Triangle Peak Partners, LP, other investors joining the round include Fayez Sarofim & Co., Nixon Watches co-founder Chad DiNenna, three-time NBA All Star and video game enthusiast Gilbert Arenas, as well as parent company ASTRO Studios. ASTRO Gaming expects to complete the round with an additional $1.5 million within the next 90 days. The Series B round will be used to support current product rollouts, additional product development and the introduction of the ASTRO Gaming brand to Europe and Asia.
“ASTRO Gaming is one of the strongest companies developing premium gaming peripherals,” said David Pesikoff of Triangle Peak Partners, LP. “With more and more people of all walks of life playing video games, we think ASTRO’s future is bright.”
Since its launch in early 2008 with the A40 Audio System, ASTRO Gaming has garnered numerous industry accolades and quickly established itself as a major player in the $5 billion peripherals segment of the video games industry. The A40 Audio System is currently the official licensed headset of Major League Gaming. Furthermore, the recently launched Transport Series of gaming gear bags were just selected as the Official Gift Bags for Spike TV’s 2008 Video Game Awards.
“Gaming has taken center stage as today’s entertainment form of choice, and the lifestyle surrounding it is only picking up speed,” said Brett Lovelady, CEO and co-founder of ASTRO Gaming. “ASTRO Gaming is leading the charge with professional-grade products that sit at the epicenter of the gaming lifestyle, offering high performance and style.”
The company has several new products under development and will continue the expansion of its catalog with new product offerings throughout the coming years.
“We launched our initial product line in April last year and had very high expectations,” said Jordan Reiss, co-founder and Vice President of ASTRO Gaming. “Little did we know that we’d surpass those expectations, thanks in no small part to a truly extraordinary holiday run. We're excited to be entering 2009 with strong momentum and with the backing of a great partner in Triangle Peak Partners.”
About ASTRO Gaming
ASTRO Gaming creates premium video gaming equipment for pro gamers, leagues and their lifestyles. Spun-off from design powerhouse ASTRO Studios, known in the gaming world for designing the Microsoft Xbox 360™, Alienware PCs, and HP’s Blackbird PC, ASTRO Gaming produces a line of gamer centric "tech-life" products, supporting this rapidly growing community. ASTRO Gaming’s product line includes the critically acclaimed A40 Audio System, the Official Licensed Headset of Major League Gaming, and the new Transport Series of gaming bags.
About Triangle Peak Partners, LP
Triangle Peak Partners, LP is an investment firm focused on venture capital and private equity investments in private and public companies in the technology, energy, and alternative energy sectors. The firm has over $300 million in assets under management, $165 million of which is in venture capital and private equity, and has offices in Carmel, Palo Alto, and Houston.
Chris Heintz, TriplePoint
Brett Lovelady, ASTRO Gaming