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Dealipedia - World Golf Tour receives an investment from Panorama Capital...

World Golf Tour receives an investment

Deal Participants:
Company: World Golf Tour View Profile Charts Homepage
Investors: Panorama Capital View Profile Charts Homepage
Battery Ventures View Profile Charts Homepage
Deal Financials:
Series: B
Date:
Announced: May 05, 2008

PRESS RELEASE - World Golf Tour receives an investment

World Golf Tour (www.worldgolftour.com), creators of the world's most authentic online golf experience, today announced Panorama Capital, a Menlo Park, Calif.-based venture capital firm, as its lead investor in the Series B funding round. The new funding also includes participation from current investor Battery Ventures.

Launching in Beta this summer, World Golf Tour will bring the prestigious Kiawah Island Golf Resort, located in Charleston, S.C., to the Internet for play for the first time. Since the launch of its demo in May 2007, the revolutionary golf game has attracted more than 500,000 players from over 150 different countries.

"World Golf Tour is leading the creation of compelling new media experiences on the Web," said Michael Jung, Principal of Panorama Capital. "The technology behind the product is like nothing else on the market and enables a very compelling proposition." As part of the financing Michael Jung has also joined the board of directors.

"We are thrilled to have Panorama's support and guidance as we move towards our launch," said World Golf Tour CEO YuChiang Cheng. "We had many firms vying for participation in our investment round, but Panorama's dedication to our vision, deep understanding of online consumer services and valuable media relationships made them the ideal partner."

The World Golf Tour experience will offer numerous monetization and charitable opportunities for partners and sponsors alike. Currently, World Golf Tour is working with some of the top names in golf, such as PGA.com, TaylorMade and adidas Golf to showcase products within the online experience. In addition to recreating courses for competitive play and sponsored tournaments, World Golf Tour will feature in-depth information about resorts in the game, as well as provide direct links to tee time reservation systems and resort booking sites.

ABOUT WORLD GOLF TOUR

San Francisco-based World Golf Tour� (WGT) offers the world's most photo-realistic online golf experience. WGT seeks to democratize the game of golf via the Web, making golf accessible and affordable for all, and to build an online community based on its engaging, interactive golf experience. WGT enables multiple players to explore famous courses simultaneously and sparks competition with tournament play and real-life prizes. For more information, please visit www.worldgolftour.com.

ABOUT PANORAMA CAPITAL

Panorama Capital (http://www.panoramacapital.com) is a venture capital firm focused on technology and life sciences companies. Panorama Capital has a singular focus: helping entrepreneurs build market-leading companies. Panorama invests in entrepreneurs and teams who share its values: a passion to build great companies; an unyielding focus on people and teamwork; and a commitment to integrity. Panorama's philosophy is to make that same commitment to the teams it supports, over and above its financial investment, and to take a hands-on, highly collaborative approach to investing, bringing to each portfolio company the team's extensive operating and investing experience.

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May 05 '08
This version submitted by azstrik
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