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nWay Announces $5 Million Series A Round From TransLink Capital, Baseline Ventures & Others
Dec 11, 2013 (11:12 AM EST)
SAN FRANCISCO, Dec. 11, 2013 /PRNewswire/ -- nWay, an independent San Francisco-based gaming startup, has today announced a Series A funding round in the amount of $5 million led by TransLink Capital, with participation from Baseline Ventures' Steven Anderson, Cowboy Ventures' Aileen Lee, Harrison Metal's Michael Dearing, and Lightspeed Venture Partners' Jeremy Liew. Jay Eum, Managing Director at TransLink Capital joins Steve Anderson, Founder of Baseline Ventures on nWay's board of directors. Creators of ChronoBlade, an action RPG game currently in Beta on Facebook and Ouya and coming soon to mobile devices, nWay is a pioneer in technology enabling a lag free competitive and cooperative multiplayer experience across mobile and online platforms. WI Harper Group, Zhen Fund, Bowana, and XG Ventures also contributed to the round, which will be used to complete development of ChronoBlade and nWay's back-end multiplayer technology.
"The days when you had to sit side-by-side in front of a TV hooked up to the same console to have a good player vs. player fighting game experience are over. We are going to revolutionize how skill based multiplayer games are played and shared," said Steve Anderson. Jay Eum added, "nWay's work to build a game that has enough depth to be an e-sports game while being hyper accessible for the casual crowd certainly caught our eye and we confirmed strong interest from several leading gaming publishers in Asia where this type of game is more advanced."
"It's been a long time coming but we're very close to delivering an online multiplayer experience that has never been perfected on any platform," said Taehoon Kim, CEO and Co-founder of nWay. "Gamers will be able to duel each other in a fast paced action game running at 60 frames per second with low enough latency to do blocks, counters, and hundreds of perfectly timed combos that were previously only possible with two controllers hooked up to a gaming console. We want this experience to be hyper accessible on web, mobile/tablet, and smart TVs and this round of funding will fuel the resources necessary to make this a reality."
ChronoBlade is currently in beta and available to the public on Facebook as well as Ouya consoles. A fast-paced and combo-driven brawler, ChronoBlade has been designed for hardcore gamers by a team with experience working on major titles like Diablo II, Dungeon Fighter Online, and Grand Theft Auto. The game will launch across mobile, online, and additional platforms leveraging nWay's proprietary back-end technology allowing for real-time, synchronous multiplayer experiences.
nWay is the game studio behind ChronoBlade, a console-quality multiplayer action brawler game for web and mobile platforms. The free-to-play title, currently in beta on Facebook and OUYA and set to launch on Android, iOS, and Smart TVs in 2014, features fast-paced and synchronous cross-platform multiplayer gameplay by leveraging nWay's proprietary technology for a latency-free experience. Founded in 2011, the company is based in San Francisco and currently employs 34 people with venture funding from Baseline Ventures, TransLink Capital, Cowboy Ventures, Lightspeed Ventures, Harrison Metal, Bowana, and WI Harper Group. For more information, visit nWay at www.nway.com.