The investors were Benchmark Israel and BlueRun Ventures.
Sources inform ''Globes'' that mobile game technology start-up GameStream Ltd. has closed its first financing round, raising $4 million from Benchmark Capital and BlueRun Ventures. The company declined to comment on the report. BlueRun also declined to comment but said that “the company is currently in the middle of a number of strategic moves that will turn it into a key global player in the gaming industry.” The sources added that the company will also be changing its name in the near future.
GameStream was co-founded in 2005 by CTO Yossi Buznach, former CTO and technical manager at Adwise, and acting CEO Yossi Hasson, a partner at BlueRun Ventures. The company develops desk-top quality games for 3G handsets. Prior to joining BlueRun Ventures, Hasson worked in Intel Capital's wireless group as a senior strategic investment manager, and before than he was investment manager at Ophir Holdings, where he oversaw its investments in Memco Software, ComBox, DSP Communications, and Nogatech. BlueRun Ventures managers three funds totaling $1 billion, with investments in EZchip Technologies, Advasense and others.
Benchmark Capital was founded and has $3 billion in assets. Benchmark Israel closed its second fund on $250 million eighteen months ago.
Published by Globes [online], Israel business news - www.globes.co.il - on January 1, 2007
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