Woozworld, a virtual world for tweens, has scored $3 Million in Series A financing round and will be spinning off from virtual world developer Montreal-based Tribal Nova, which incubated and launched Woozworld in December 2009.
Woozworld claims over 350,000 members and one million user-generated virtual spaces (up from about 50 at the end of last year). Woozworld says it intends to continue developing and promoting its Web 2.0 virtual world where tween users build an entire world where they can engage with their peers, design their own virtual spaces, set up the activities they choose and even manage their own businesses.
With the new funding round was led by iNovia Capital and ID Capital, a division of Telesystem Group. Chris Arsenault of iNovia Capital and Daniel Cyr of ID Capital will be joining the spin-off’s Board of Directors.
This time last year Tribal Nova closed a $3 Million growth financing round from the same two venture capital firms to launch virtual worlds – looks like the funds have been working hard over the past year.