Social Gaming Network, a company I’ve written about countless times on this blog (and interviewed the CEO), just received $15 million in funding according to Caroline McCarthy. The Series A comes from Greylock Partners, Peter Thiel’s Founders Fund, Columbia Partners and D.C. based Novak Biddle Venture Partners.
Social Gaming Network is the third largest company on Facebook based on installs, according to Adonomics.com. It has half as many active users as the company’s rival, Zynga Game Network. While Social Gaming Network has a declining base of active users, it isn’t too late to turn that trend around. Given the new round, it looks like the investors agree with that sentiment.
$15 Million is a large amount for a Series A in this space. I’d expect the company to begin making more acquisitions to add to their portfolio. Social gaming is still extremely early stage and has only a few key players. I’d expect this space to explode alongside the social dating space which also appears to be booming on Facebook and Myspace.
While Zynga is currently dominating the gaming space on Myspace, look for SGN to start making aggressive plays to bolster their position. Given the early stage of this space it is still anyone’s game. Social Gaming network has solidified their dominant position with this new round of funding.