nWay, a San Francisco, CA-based game developer, raised $11m in funding.
Backers included March Capital Partners and Ridge Ventures, and existing investors Baseline Ventures (Steve Anderson), TransLink Capital (Jay Eum) and WI Harper Group (Jeffrey Chu). nWay also announced that three executives have joined its expanded Board of Directors with Lionsgate’s Peter Levin; Ridge Ventures Managing Director Phil Sanderson; and March Capital Partners Co-founder Gregory Milken.
This company intends to use the funds for new game development and as well as continue to accelerate the success of the blockbuster mobile game Power Rangers: Legacy Wars, developed by nWay in collaboration with Power Rangers creator Saban Brands and global content leader Lionsgate (NYSE: LGF.A, LGF.B).
Led by Taehoon Kim, CEO, nWay is the game studio behind Power Rangers: Legacy Wars and ChronoBlade, a competitive and cooperative multiplayer action RPG for mobile, TV, and browser platforms. The company is based in San Francisco with offices in Seoul, Korea.
The deal will further expand the relationship between Lionsgate and Ridge Ventures, which includes investments in other game developers that work closely with Hollywood properties, such as Telltale Games and Next Games, both of which include Peter Levin and Phil Sanderson as board members. Lionsgate has also previously invested alongside Gregory Milken in the professional esports organization Immortals.