Challenge Games Secures $10 Million Financing for Online Games

September 25, 2008

By Mike Peters

Challenge Online Games has announced it has secured $10 million in funding for browser-based, free-to-play, short form online game development. The Series B funding is led by Globespan Capital Partners with participation by Series A investor Sequoia Capital as well as existing investors.

Challenge Games Titles Include "Duels" and "Baseball Boss"

Challenge Games is the developer of "Duels," the popular online fantasy game, and the new fantasy baseball and card collecting game "Baseball Boss," the free-to-play online games that combines the collectibility and trading associated with collectible card games and sports cards with the competitive aspects of massively multi-player online games (MMOs), as well as the ease of access of community Web 2.0 applications. The games feature asynchronous, short-form design, which allows them to be played in 5 to 15 minute increments rather than in long marathon sessions.

Gamers can collect items and cards within the game and trade them with other players. They can also sign up for VIP memberships for a small subscription fee, which provides additional benefits such as the ability to buy special items and cards to enhance the gaming experience.

Challenge Games to Develop Additional Short Form Free-to-Play Online Games

"This funding further demonstrates that we are bringing innovation and value to the gaming industry," said Andrew Busey, founder and CEO of Challenge Online Games. "This funding will help us accelerate the growth of our business through the development of new games, explore partnership opportunities, and potentially acquisitions."

"Challenge Games is addressing a real need in the market," said Eugene Yoo, vice president at Globespan Capital Partners. "Short form, free-to-play, web-based games have the potential to pull new consumers into the category. And the engaging gameplay of their titles appeals to the active casual and hardcore gamer as well."