Casual-game developer Heyzap has raised between $500,000 and $1 million in a seed round led by Union Square Ventures, co-founder Immad Akhund told paidContent, though he declined to be more specific about about the amount raised. Epinions founder Naval Ravikant, del.icio.us founder Joshua Schecter, and angel investor Maurice Werdegar also participated in the round. Akhund and co-founder Jude Gomila launched the company with $40,000 from a small investment by Y-Combinator and personal savings, so this is the first material seed round for the company.
Heyzap develops games that are distributed to multiple partner websites (currently more than 20,000 sites) and reaches several hundred thousand users a month. The company earns money through advertising, but plans on selling virtual goods as an additional revenue stream in the future.
By Rory Maher