Austin, TX (PRWEB) July 26, 2011
The Austin Technology Incubator (ATI), a unit of the IC2 Institute of The University of Texas at Austin (UT), congratulates web and mobile game platform GameSalad on its graduation from the program. GameSalad graduated at the end of 2010 with a well rounded and experienced executive team, solid funding, and an industry-changing mobile and web gaming platform. Throughout GameSalad’s year and a half in ATI, ATI was present at every milestone: providing guidance on fundraising, legal issues, operations planning and corporate positioning.
“From introductions to insight, Austin Technology Incubator has been by our side helping GameSalad grow our business,” said Michael Agustin, GameSalad founder. “Bart Bohn, and the team at ATI have drawn on their real world experience and individual expertise to guide us as we grew to maximize the potential of GameSalad.”
GameSalad’s flagship product, GameSalad Creator, is a groundbreaking software tool that empowers anyone, regardless of technical skills, to design, publish and distribute sophisticated original games, using a visual, drag-and-drop interface that requires no coding. Once the game has been designed, developers can choose to publish to the iPhone, iPad, Mac, or Web, simply by clicking a button. Popular among both established and aspiring developers, GameSalad Creator has been used to create over 18,000 games, including more than 40 top 100 Games in Apple’s App Store. With the addition of HTML5 publishing in June 2011, GameSalad allowed developers to expand beyond iOS and reach a market of over a billion people currently using a web browser.
ATI met GameSalad (then Gendai Games) in 2008 at a Texas Funding Symposium. Inspired by GameSalad’s vision for game development ATI’s IT and Wireless Director Bart Bohn invited the company to the 2008 Wireless Seed Stage Forum. In March 2009, ATI included GameSalad in the prestigious Entrepreneur’s Lounge at SXSW, and in July 2009, the company was formally admitted into ATI.
At SXSW in March 2010, GameSalad was an urban legend come true: an investor wrote them an angel check on the spot at the TECHCocktail event. ATI introduced GameSalad to DFJ Mercury’s Blair Garrou, and that angel check snow balled into a $1.1 Million Series A round with DFJ Mercury in place as GameSalad’s first and lead investor.
GameSalad’s momentum continues: In recent months the company appointed former Disney executive CEO Steve Felter, expanded the company’s reach exponentially with the launch of HTML5 publishing and announced a $6.1 Million Series A-1 funding round that included original investor, DFJ Mercury, and brought in in Steamboat Ventures (Disney’s investment arm); Greycroft Partners; DFJ Frontier and ff Asset Management. This recent funding qualified GameSalad to graduate from the ATI program.
“Seeing GameSalad at SXSW this year, 2011, was such a fantastic validator for all the hard work they’ve done and phenomenal success and momentum,” said Bart Bohn, ATI IT and Wireless Director who has worked closely with GameSalad for the past two years. “We at ATI truly appreciate GameSalad letting us come along for the ride. To see the progress, from 2 years ago until todau, and the trajectory they are on now…this is why we do our jobs.”
Over the past 20+ years, ATI has worked with more than 200 start-up companies, helping them raise over $750 million in capital. Over just the past three years, 50 ATI member companies have received over $75 million in funding and ATI alumni companies have had over $300 million in positive exists through acquisitions by large technology players such as IBM and BMC. ATI has a proven track record of connecting its portfolio companies to the right investors, with over 75% of ATI companies receiving funding. ATI has been on the front lines of emerging technology sectors, establishing successful focus areas within spaces such as Wireless, Bioscience, Clean Energy, and creating infrastructure around emerging areas including Big Data and the Semantic Web.
More About the Austin Technology Incubator
The Austin Technology Incubator is a nonprofit unit of The University of Texas at Austin that harnesses business, government and academic resources to provide strategic counsel, operational guidance and infrastructure support to its member companies to help them transition from early stage ventures to successful technology businesses. Since its founding in 1989, ATI has worked with over 200 companies, helping raise close to $750 million in investor capital. ATI is a key program of the IC2 Institute at The University of Texas at Austin. For more information, visit http://www.ati.utexas.edu.
About GameSalad Inc.
GameSalad is a community that empowers everyone to express and share their ideas through games. GameSalad provides a platform that allows creators to rapidly design, publish and distribute original games for the iPhone, iPad, Mac, and Web. Founded in 2007, GameSalad is a privately held, venture-backed company headquartered in San Francisco, CA, with studios in Austin, Texas and Los Angeles, California.