PurePlay has announced the closing of Series C equity financing round for $15 million. The company claims to be the first and the largest online, legal non-gambling poker site with a record 1 million users and to-date has given away $3 million in cash prizes. The funding will allow PurePlay to increase marketing and expand infrastructure to handle the rapid growth.
Investors include Bay Partners, Ron Conway, James Joaquin, and other Silicon Valley investors. Ron Conway formerly headed Angel Investors LP and is currently an independent angel investor. He wrote "The Godfather of Silicon Valley" and, notably, he sits on the boards for Facebook, Plaxo, Anchor Intelligence, Associated Content and Zappos. He was also an initial investor in Google. James Joaquin funded When.com, presided over OFoto and Xoom and acts as a venture partner at Bridgescale Partners.
Maybe this company doesn't even need the potential regulatory loosening up that has been proposed by Barney Frank.
VC invests in legal online poker site
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