Heatwave Interactive Raises $7.5 Million Investment

Heatwave Interactive today announced that it has successfully raised $7.5 million in Series A investment from Syncom Ventures Partner and talking about their new business model, which will allow them to fund concepts and then raise further funds and partner with developers to develop the product further.

Heatwave’s innovative business model is designed to minimize the risks traditionally associated with developing new entertainment properties. “We internally fund the development of new concepts and screen them through an exhaustive evaluation process,” explained Donn Clendenon, CEO of Heatwave. “Once a concept makes it through this process, Heatwave raises development funds, partners with talented developers and leverages strategic relationships to bring our products to market. This model enables designers and artists to be creative and innovative while at the same time reducing the risk for investors, publishers and strategic partners.”

Click here to read the details surrounding the business model and the investment deal.