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