Three Rings raises USD3.5m from True Ventures

Games developer Three Rings has received USD3.5m in funding, reports VentureBeat. The round was led by True Ventures, who provided USD3m. The rest came from Chance Technologies and return investors, Amicus Capital and Mercury Capital.

The online games company was founded in 2001, with its first Java-created game, 'Puzzle Pirates' entering beta in Jul 2003. Initially the game was offered on a subscription basis, but this was later switched to virtual currency.The firm has 30 employees and is currently developing a social networking game called 'Whirled'. Three Rings claims to have raised USD4m in revenue in 2007.