Network Next, a video game-focused software developer based in Santa Monica, emerged from stealth mode Jan. 23 to announce a $3.1 million seed round led by Santa Monica and Germany-based Bitkraft Esports Ventures.
The raise brings the company’s total funding to $4.4 million.
Bitkraft finalized a $125 million venture capital fund Jan. 16 after previously raising $18.5 million in 2017 for e-sports incubation and investment.
Network Next believes its new high-speed network can revitalize the gaming industry. Game developers that partner with Network Next integrate its software into new or existing games, and it runs in the background to find the fastest way through internet service providers to get data from one server to the next, decreasing latency.
“We believe that game traffic should be prioritized above other internet traffic and could not be more thrilled to partner with investors who share that belief,” said Chief Executive Glenn Fiedler. “With this new investment, we’ll be able to grow our team and continue the development of our technology, which will ensure that we can deliver on our vision.”
Boston-based Bain Capital Ventures and London-based Velo Partners contributed to the funding round. So did San Diego-based game developer Psyonix, which also signed on as Network Next’s first client.
“We were motivated to invest in Network Next because of Glenn’s experience in the deep trenches of network code architecture and development in multiplayer games. Not only has he built a great team around him, but he has a thorough understanding of the challenges game developers face when it comes to the network side of their service operations,” said Bitkraft Founding Partner Jens Hilgers. “Bitkraft believes that Network Next is solving a very real problem for developers of multiplayer games, and most critically, for anyone operating an esports game.”
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PSC Biotech Ups Software Game
Pomona-based PSC Biotech Corp., which makes software for biotech companies, announced an update to its document management software.
The Adaptive Compliance Engine, nicknamed ACE, helps life science companies manage projects, reports and file regulatory and internal records. ACE now offers application programming interface (API) capabilities, which will allow use of the engine across all software platforms, increasing the tasks it can complete.
“The inclusion of a powerful API was a huge goal of ours in order for our clients to integrate ACE into their other best of breed life sciences enterprise IT applications,” said Chief Executive John Clapham.
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