CrowdStar Raises $23 Million In First Round Of Funding Led By Intel Capital and Time Warner

Posted May 23, 2011

CrowdStar is a social gaming company that has just raised $23 million in a first round of funding led by Intel Capital and Time Warner Investments. CrowdStar will be using the funding to hire additional talent and globally expand.

?We want to be a global social and mobile gaming company, not just a Facebook game company,? stated CrowdStar CEO Peter Relan. ?As we do so, it becomes difficult to fund all of that investment through our Facebook growth alone.? Relan is also the chairman of the YouWeb incubator.

The9 and NVInvestments participated in this round of funding. CrowdStar had about 20 people on their team as of early 2010. Currently CrowdStar has over 100 employees. CrowdStar was founded by Suren Markosian in summer 2008 with incubation from YouWeb.