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Venture Capital News: Happy Cloud Smiles with $4.25M Round

2013-05-22
NEW YORK, NY, Happy Cloud announced its Series A fundraising round of $4.25 million and introduced eCommerce veteran Tamir Buchler as CEO.
Today Happy Cloud, Inc. announced its Series A fundraising round of $4.25 million and introduced eCommerce veteran Tamir Buchler as CEO. Led by Avalon Ventures and joined by Jesselson Capital and Shaman Ventures, this round brings Happy Cloud's total funding to $7 million and allows the company to build out its team and prepare for the upcoming launch of a games-on-demand service offering nearly instant access to demos. Happy Cloud leverages its unique data streaming technology to enable on-demand access to games.

"Game quality and capacity continue to reach new heights, and as the gaming industry evolves, the need for a scalable on-demand technology becomes even more relevant," explained Rich Levandov, managing director, Avalon Ventures. "We've seen many solutions raise lots of capital and fail because they don't scale. Happy Cloud is the only scalable technology of its kind and will dramatically disrupt the industry while creating value for the entire gaming world."

"We are excited to have Tamir Buchler on board," said Michael Jesselson of Jesselson Capital. "He has strong leadership skills and has a proven track record of driving revenue growth for consumer-facing platforms."

Buchler comes from IAC/InterActiveCorp where he was previously COO and CRO of the comparison shopping network Pronto.com. He will focus on growing Happy Cloud's licensing business as well as launch its consumer-facing game portal.

"Happy Cloud adds unparalleled value to the gaming ecosystem by eliminating barriers to entry and giving users what they want," Buchler noted. "By offering free on-demand access to the best high-end games, we can bring new gamers on board, increase conversions and keep gamers engaged. Happy Cloud is a scalable solution that can effect change in the same way iTunes and Netflix have transformed media consumption by offering seamless, instant access."

Visit www.thehappycloud.com to learn more about Happy Cloud.

About Happy Cloud, Inc.

Happy Cloud is a cloud-based game service that provides distribution to PC, console and Android game publishers and a games-on-demand service for consumers. Its distribution system dramatically reduces abandonment rates and increases paid user conversions. Happy Cloud was founded in 2009 and is based in New York.
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