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ngmoco Raises $25 Million in Series C

ngmoco, the leading publisher and developer for iPhone OS devices, has raised a new round of financing led by Institutional Venture Partners (IVP), along with the company’s previous investors, including Kleiner Perkins Caufield & Byers, Norwest Venture Partners and Maples Investments. IVP General Partner Sandy Miller has joined ngmoco’s board of directors.

“We’re delighted that IVP shares ngmoco’s vision for creating & distributing freemium entertainment for the mobile Internet,” said Neil Young, CEO, ngmoco. “We’re looking forward to growing ngmoco both organically and strategically as we strive to build the very best next generation mobile entertainment company.”

2009 was an important year for ngmoco as it saw the introduction of the company’s first freemium #1 hits Eliminate Pro and Touch Pets Dogs, the acquisition of leading iPhone OS social MMO company Miraphonic and the Epic Wars brand, and the launch of the leading player network, Plus+.

ngmoco has pioneered freemium games for the mobile Internet, offering high quality free-2-play games as service, driving Eliminate Pro, Touch Pets Dogs and Epic Wars games to more than 12.5 million downloads. With its recent round of funding, ngmoco will grow the team with top talent and IP, expand creation of compelling new freemium games and leverage its unique experience and technology to enable Plus+ as a development platform for partners to build and monetize free-to-play experiences.

“ngmoco is positioned to lead this next generation mobile Internet games space,” commented Sandy Miller. “ngmoco has the right team, the right resources and the right model to build a strong and lasting business at scale.”

About ngmoco

Headquartered in San Francisco, ngmoco was founded in 2008 by games industry veterans committed to the new mobile landscape opened up by Apple’s iPhone. ngmoco creates and publishes socially empowering games for iPhone and beyond with the best and brightest game makers in the world. Founded by Neil Young, Bob Stevenson, Alan Yu and Joe Keene, the company’s investors include Kleiner Perkins Caufield & Byers, Maples Investments and Norwest Partners. To witness the lives and minds of the ngmoco team at work on the future of games, visit http://www.ngmoco.com.

About Institutional Venture Partners (IVP)

With more than $2.2 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. The partnership is currently investing IVP XII, a $600 million later-stage fund focused on investments in rapidly growing technology and digital media companies. Founded in 1980, IVP has a 29-year IRR of 43.2% and has invested in over 300 companies, 85 of which have gone public. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions and select public market investments. Since its inception, IVP has invested in such notable companies as ArcSight (ARST), Ask Jeeves (IACI), Aspect Communications (ASPT), At Road (ARDI), Business.com (RHD), Clarify (CLFY), ComScore (SCOR), Concur Technologies (CNQR), Danger (MSFT), Digital River (DRIV), Form Factor (FORM), Foundry Networks (FDRY), HomeAway, Juniper Networks (JNPR), LSI Corporation (LSI), Mobile 365 (SY), MySQL (JAVA), Netflix (NFLX), Polycom (PLCM), Quigo (TWX), Seagate (STX), Synchronoss (SNCR), Tivo (TIVO), Twitter, Websense (WBSN) and Zynga. For more information, visit http://www.ivp.com or follow IVP on Twitter: http://twitter.com/ivp.

About Kleiner Perkins Caufield & Byers

Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 600 ventures, including AOL, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm's portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions. The firm has offices in Menlo Park, California; Beijing, China; and Shanghai, China. For additional information visit, www.kpcb.com.

About Norwest Venture Partners

Norwest Venture Partners (NVP) is a global venture and growth equity investment firm that manages more than $3.7 billion in capital. It has offices in Palo Alto, California, Mumbai and Bangalore, India and Herzelia, Israel. NVP makes early to late stage venture and growth equity investments in U.S. and global companies across a wide range of sectors including: information technology, business services, financial services, infrastructure, technology enabled services and consumer. NVP has actively partnered with entrepreneurs to build great businesses for more than 48 years and has funded over 450 companies since inception.

Notable investments include Actel Corporation, Airespace (acquired by Cisco Systems), Brocade, Cerent (acquired by Cisco Systems), Corio (acquired by IBM), Cray Research, Documentum (acquired by EMC), Extreme Networks, Forte Software (acquired by Sun Microsystems), LifeSize Communications (acquired by Logitech), NSE (National Stock Exchange of India), Open-Silicon (acquired by Unicorn Investment Bank), PeopleSoft (acquired by Oracle), Polycom, Qumranet (acquired by Red Hat), Rackspace (NYSE:RAX), Shriram City Union Finance, Siara Systems (acquired by Redback Networks), SideStep (acquired by Kayak), Spinnaker Networks (acquired by Network Appliance), SPSS (acquired by IBM), Tivoli Systems (acquired by IBM), Transaction Systems Architects (Nasdaq: ACIW), Verio (acquired by NTT), Winphoria Networks (acquired by Motorola) and Yipes (acquired by Reliance/Flag Telecom). For more information, please visit www.nvp.com.

About Maples Investments

Maples Investments is a Silicon Valley based, early-stage micro-fund focused on start-ups that fundamentally disrupt existing large markets or create new market categories. The firm currently works with consumer-focused companies such as ngmoco, digg, Twitter, Kongregate, IMVU, and Aggregate Knowledge, as well as business-focused companies such as Solarwinds, Spiceworks, Demandforce, YuMe Networks, and Hyper9.

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