If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

Three Rings Design, Inc. Completes Series B Financing

FOR IMMEDIATE RELEASE



San Francisco, CA - June 26, 2006 - Three Rings Design, Inc., a premier developer of multi-player online casual games, announced today it has completed a successful Series B financing round led by Mercury Capital Partners and Amicus Capital that includes participation from the Arba Group and angel investors like Stewart Alsop.

The new financing follows the beta launch of "Bang! HowdyTM," a multi-player online tactical strategy game and the company's success with "Puzzle PiratesTM," an internationally acclaimed massively multi-player online game that TIME Magazine called "addictive." Both titles are distributed online and are free to play, with optional purchase of micro-currency to obtain upgrades and additional content.

"We're very excited about our investment in Three Rings. We believe that broadband adoption coupled with digital distribution creates tremendous opportunities in this sector," stated Teo Balbach, a Principal of Mercury Capital Partners. "The Three Rings team has built a very compelling online games platform in a space that is experiencing rapid growth."

"The 'free to play, pay for items' business model has proven very successful in the Korean market and is the economic driver of our business," said Daniel James, Three Rings' CEO. "With over 1.9 million registered players and a near even male/female split, this model is popular with a broad demographic and is attracting a substantial international audience. The financing allows us to accelerate our core business and to continue to develop new breakthrough products."

Three Rings is profitable and growing at over 30% per quarter. The financing was over-subscribed and the use of proceeds will be for expansion and new product development.

About Three Rings
Three Rings is a premier developer of massively multi-player online casual games. Since launching "Puzzle PiratesTM" to international acclaim in 2004, the company has quickly become one of the most popular and well-respected developers and operators of online games. Three Rings games are free to play and have virtual economies with unique micro-currencies. They are currently played in more than 50 countries. More information on Three Rings can be found at http://threerings.net/.

About Mercury Capital Partners

Mercury Capital Partners is a private equity fund focused on investments in the media and communication industries. The principals at Mercury have an extensive operating and investment history in the media world. Mercury looks for opportunities in a broad array of media industries including Internet, licensing, entertainment, radio, TV, and print media. More information on Mercury Capital can be found at http://www.MercuryCapitalPartners.com/

About Amicus Capital
Amicus Capital (San Francisco, CA) supports its companies with early stage capital and helps to position its companies for success by refining strategy, making introductions to sources of later stage capital and helping to manage the funding process. Amicus leverages the partners' significant experience in the development of market leading companies to help entrepreneurs identify and assess strategic opportunities. For more information, visit http://www.amicusweb.com

# # #

CONTACT:

William Fischer
Three Rings Design, Inc.
415-615-9596
bill@threerings.net

Author
GamesIndustry International avatar

GamesIndustry International

Contributor

GamesIndustry International is the world's leading games industry website, incorporating GamesIndustry.biz and IndustryGamers.com.