Monday, August 18, 2008

GameLogic grabs $8M in third funding round

By Mass High Tech Staff

GameLogic Inc. has collected $8 million of a $10 million Series C round of financing, according to published reports.

Waltham-based GameLogic, which provides products and services designed to enable legal casinos and lotteries to stay connected to their players, received the funding from investors that included Boston-based Bain Capital Ventures, Cambridge-based General Catalyst Partners and Seattle-based Maveron LLC, website PE Hub reported.

GameLogic was founded in 2002 by chairman and CEO Steven Kane, founder of Gamesville, which was acquired by Lycos in 1999 for $232 million.

In February 2006, GameLogic received an $18.6 million Series B round of funding. That same year, the company licensed online game Slingo as the latest addition to its PlayAway portfolio for casinos. The game, a combination of Bingo and Slots, was developed on a traditional 5-reel slot machine in 1995.

GameLogic announced in November 2007 that it was hired by Trump Entertainment Resorts Inc. in Atlantic City to provide all three of its New Jersey properties with online gaming modules aimed at developing new customers and providing existing “club” customers -- frequent casino customers and VIPs -- with off-site promotions and entertainment.