San Francisco - Zynga, a developer of social media games, announced on Wednesday that it has raised $29 million in new financing, and acquired YoVille, a virtual world game on social networks.

Kleiner Perkins Caufield & Byers and Institutional Venture Partners led the investment round; previous investors Union Square Ventures, Foundry Group and Avalon Ventures also participated.

The new funds will be used to accelerate Zynga's game development.

The San Francisco-based company's titles, which include versions of card and word games, are available on Facebook, MySpace, Bebo, Hi5 and Friendster.

YoVille, a city-building simulation game, currently claims over 154,000 daily active users on Facebook.

Related Links:
http://www.businesswire.com/news/google/20080723005398/en

http://www.zynga.com

http://www.facebook.com/apps/application.php?id=21526880407 (YoVille)