MMO Network Lands $4.2million in Funding

The funding, which was led by Sterling Stamos Capital Management, will go towards hiring new employees, finishing off version 1.0 of the company's MMO platform and launching its consumer network of games and virtual worlds, the company said in a statement.

"We believe that Multiverse will play a fundamental role in the growth of virtual worlds and multiplayer games," stated Joanna Strober, director of private equity at Sterling Stamos and new board member at Multiverse. "Based on the Multiverse team's experience and creative vision, we believe they could become a $1 billion leader creating breakthrough applications for business, education, government and entertainment."

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