Zynga given $29 million boost

Digital

Zynga given $29 million boost

Zynga given $29 million boost

CASUAL CONNECT 08: Social games service Zynga has completed a new round of funding led by Kleiner Perkins Caufield & Byers along with Institutional Venture Partners (IVP) – to the tune of $29 million.

The investment also includes funding from previous investors Union Square Ventures, Foundry Group and Avalon Ventures.

Zynga said that the funding will be used to accelerate creation of its social games.

The company has also announced that Kleiner Perkins partner and former co-founder and chief creative officer of Electronic Arts, Bing Gordon, will take an active director role in building the company.

He joins LinkedIn’s chairman Reid Hoffman, Foundry Group’s Brad Feld and Zynga’s CEO Mark Pincus on the company’s board of directors.

In addition, Zynga announced today that is has acquired YoVille, which it claims is the largest virtual world game on social networks.

“We are excited that Kleiner Perkins and IVP are joining our terrific investor group,” said Pincus.

“With this new investment, we are doubling down on social gaming, raising the production quality and scaling the infrastructure. We’re also excited to have Bing, who has been an amazing contributor even before becoming formally involved, join in an even more significant way.”

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