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Six Degrees Games Gets $7 Million Extra Financing

by Rainier on Nov. 12, 2009 @ 8:37 a.m. PST

Six Degrees Games announced that it has raised $7 million in equity financing, funding that will be used to accelerate its growth in the sports entertainment space and to enhance in-house development capabilities.

Time Warner Inc. led the investment along with current investors, Clearstone Venture Partners and Prism VentureWorks. The additional funding will be used to accelerate Six Degrees Games’ growth in the sports entertainment space and to enhance in-house development capabilities.

“This has been a great year for Six Degrees Games,” said Minard Hamilton, CEO and co-founder along with President of Six Degrees Games, Ben Jones. “Our success since launching early this year shows there’s clearly a demand from sports fans for new immersive ways to engage their passions for sports. Time Warner shares our vision and brings an unparalleled portfolio of sports and kids properties to the table.”

With more than a million Athletes created every month, ActionAllStars.com is the premiere online sports entertainment destination for tweens and teens featuring official marks and virtual brands from partners, such as the National Basketball Association and Major League Baseball Advanced Media.

"Time Warner is always interested in identifying, creating and distributing compelling content that consumers will find engaging,” said Rachel Lam, Senior Vice President and Group Managing Director of Time Warner Investments. “ActionAllStars.com provides a unique, immersive experience for young people who are interested in sports and games, and is an attractive extension to some of our brands, including Cartoon Network, Turner Sports and Sports Illustrated for Kids. In addition we are intrigued by Action AllStars' virtual goods-based business model, which is a fast-growing new avenue to monetize high-quality virtual content."

Six Degrees Games, Inc. also announced today that Paul Condolora, SVP Digital at Turner Broadcasting, will join its board of directors.

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