Friday, October 16, 2009

Sometrics Raises Series B

Los Angeles-based Sometrics, which develops analytics software for gaming applications, said Friday morning that it has raised a Series B round of financing. Amount of the funding was not released, however, reports put the amount at $4M. The investment was led by Steamboat Ventures, and also included prior investors Mail Room Fund and Greycroft Partners. Beau Laskey of Steamboat has joined the firm's board with the funding. According to Ian Swanson, the CEO of Sometrics, the investment came as the firm has shifted its business focus into providing analytics for better monetizing virtual goods--a market which is expected to hit over three quarters of a billion this year in revenues. Among the firm's key partners is social gaming firm Playdom, NHN, Ndoors, K2 Networks, and Ntreev.