Former Microsoft and Clearwire exec Michael Sievert doesn’t appear to be wasting much time making his mark at Discovery Bay Games, the Seattle game accessory startup that he joined early last month. According to a SEC filing, Discovery Bay has raised $4.1 million of a $5 million debt round.
That would add on to the $12 million that the company — co-founded by Craig Olson as a traditional board game maker in 2006 — raised last year from angel investors. Discovery Bay is developing an iPad accessory known as the Duo which works in conjunction with mobile devices in oder to elevate game play to new levels. The company plans to market various games such as Duo Plink; Duo Pop and Duo Powered.
“Tablet games are a red-hot category and the company is well positioned to capitalize on this opportunity,” Sievert in a release at the time of his appointment. “As the pioneer and leader in this space, Discovery Bay Games will continue to find innovative ways to combine the physical and digital to create new types of gameplay experiences.”
Update: Discovery Bay has confirmed an unspecified number of layoffs at the company. Thanks to the reader who pointed this out into the comments below. Here’s a statement from Sievert …
“The original business model of Discovery Bay Games was centered around family board games. With the successful launch of our Duo product line in October 2011, we’ve shifted our focus to tablet game accessories, which is an emerging business for us. As such, the Company has reduced our staff to align with our new business model. We will continue to operate here in Seattle as the worldwide leader and pioneer in this exciting new gaming category.”
The company declined to comment on the new fundraising. Here’s a look at how the Duo Plink device works:
