Gendai Games Raises Funding

Los Angeles- and Austin-based Gendai Games, a publisher of iPhone game development software, has raised a round of funding, according to the firm. Amount of the funding was not disclosed, however the firm said the funding was somewhere over $1M. The round was led by DFJ Mercury, and also included investments from Steamboat Ventures, DFJ Frontier, and ff Asset Management. The funding also included individual investors Paige Craig, Paul Bricalt, Tom McInerney, Josh Resnick, and Mark Suster. Gendai Games publishes the GameSalad game creation software, which allows non-programmers to create their own, sophisticated games for the iPhone, iPod Touch, and iPad. According to Founder and CEO Michael Agustin, the funding will go towards more marketing for the firm, as well as to expand the company's team. Gendai is one of the firms in the LaunchpadLA effort, headed by Suster. CEO Agustin recently moved into the LA area from Austin, and has started to build up a team here in addition to the firm's Texas staff. Agustin said that GameSalad is now at 70,000 downloads, and in the last nine months has had more than 800 games published to the iTunes App store, roughly 1 percent of the games on the store. More information »