Funding Raised by Local Offer Network and GameSalad

March 31, 2011

5:30 pm

Today announcements were made that both Chicago-based Local Offer Network and Austin-based GameSalad, both of whom have participated in Tech Cocktail events in the past, have received funding. We are happy to see the continued success of these two companies.

Local Offer Network, who we have previously covered, aggregates more than 1,500 group buying offers daily from websites in 97 markets worldwide. It’s platform powers the local offers on some of the Tribune Company properties including Metromix. Today they announced they have raised a Series A round of $1.5 Million led by investors IllinoisVentures and Matthew Pritzker Company. The funds will be used to further accelerate the company’s network expansion, product enhancements, client service staff and new business development. Local Offer Network also are the makers of DealRadar which was showcased at our mobile focused event last summer in Chicago.

Jorge Zapata of Local Offer Networks Demos at a Tech Cocktail Chicago Event

Jorge Zapata of Local Offer Networks Demos at a Tech Cocktail Chicago Event

GameSalad, who we covered previously when they participated in our Tech Cocktail SXSW event in Austin two years ago (and received an angel investment check on the spot at the event), also announced that they have closed a Series A round of $6.1 million in funding, led by Steamboat Ventures, with participation from Greycroft Partners, DFJ Mercury, DFJ Frontier and ff Asset Management. GameSalad offers a platform that enables anyone (even non-programmers) to easily create a mobile game for iPhone or iPad. The additional funding will go to strengthen the technical and product teams and towards the development of its game creation technology.

GameSalad Team at Tech Cocktail SXSW 2010

GameSalad Team at Tech Cocktail SXSW 2010

Congrats to both companies, we are happy to see you continue to grow, evolve and innovate.

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Frank Gruber is the cofounder, CEO and Executive Editor of Tech.Co (formerly Tech Cocktail). He is the author of the book, Startup Mixology, Tech Cocktail’s Guide to Building, Growing, and Celebrating Startup Success. He is also a startup advisor and investor to startups.

Find Frank Gruber online and follow him on Twitter at @FrankGruber.

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