Virtual Goods News

According to SEC filings, social developer Booyah raised a second $5 million round of funding this week. The company's first round was a $4.5 million investment lead by Kleiner Perkins Caulfield & Byers. The filing does not disclose which investors participated in the second round. Booyah is the developer of Booyah Society, an iPhone social game where users "level up" by achieving things in their real life. The game is intended to eventually monetize by selling avatar customization virtual goods to users. 

Booyah is a high-profile start-up thanks to being founded by traditional games industry veterans from Blizzard and Insomnaic. While Booyah Society has not become of the iPhone's more popular apps, it's clear that investors still believe Booyah has the ability to produce something special (and lucrative). CEO Keith Lee has confirmed to Inside Social Games that the company is at work developing other projects, so it's possible the funding is primarily intended to help grow some new product rather than Booyah Society.