After months of management shuffling and restructuring, NYC-based casual gaming firm Oberon Media has closed another round of funding: The company has raised a $20 million round from the Infinity I-China Fund.
Oberon doesn’t explicitly say in its release what it’ll do with the money, but it’s part of a “larger global strategy” that will include “establishing new partnerships in China” and expanding its business there.
Oberon operates a casual gaming platform for computers, mobile handsets, and interactive TV, and a game publishing business that includes production, development, and distribution.
In June, we’d heard that there was a “growing sense of loss of direction and confidence in the company,” including key staff departures; that Oberon is having a hard time shifting to Web-based games; and that its community platform is weak. No word on the mood since Don Ryan took over as COO.
Previous investors include Goldman Sachs, Morgan Stanley, Oak Investment Partners, and Lehman Brothers.