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Ultizen Raises $1.5 Million in Financing

| 9 Jul 2007 16:16
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Chinese game outsourcing company Ultizen raises Series A round funding for expansion.

Ultizen Games, a Shanghai game development and outsourcing company, has raised $1.5 million in its first round Series A funding from Dragonvest Partners in order to expand its international operations. The 150-person studio is one of the top 10 game outsourcing companies in China, helping larger developers create titles for all major systems. As one of the six Chinese companies licensed for Microsoft's Xbox Live Arcade, Ultizen is in the final stages of its first title for the 360. Additionally, the company produces and distributes its own casual game platform, U-Pal, to high traffic Chinese websites.

"Dragonvest Partners is not simply an investor-it's a partner that recognizes our intrinsic value to the game development ecosystem.We look forward to their continued assistance in developing new directions and new opportunities for Ultizen Games," said Ultizen Games Chief Executive Officer Mr. Lan Haiwen.

Dragonvest Partners Co-Founder and Co-Managing General Partner Jesse Parker will be joining Ultizen's board to assist the company in launching its service across China. Parker commented, "Led by CEO Lan Haiwen and COO Wu Jun, Ultizen is the perfect example of the next generation of Chinese entrepreneurs combining deep local market knowledge with a sophisticated understanding of global markets. We are very pleased to welcome them into the Dragonvest family."

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