Westwood, Mass. - Multiplayer online game developer Turbine announced on Wednesday that it has raised $40 million in a new financing round co-led by Time Warner (NYSE: TWX) and GGV Capital.

Palo Alto, Calif. - Social Gaming Network (SGN), a developer of social media games whose titles include "Warbook" on Facebook, announced on Tuesday that it has raised $15 million in its first round of funding, led by Greylock Partners, Founders Fund, Columbia Capital and Novak Biddle Venture Partners.

Westwood, Mass. - Turbine, a developer and publisher of multiplayer online games, is raising a $40 million third round of venture capital financing, led by Granite Global Ventures, PEHub.com reported.

San Francisco - Gizmoz, a provider of customized, user-generated avatars for use with social media services, announced on Monday that it has raised $6.5 million in its second round of financing, led by DoCoMo Capital.

Rockville, Md. - Hillcrest Labs, the developer of a platform that lets consumer electronics manufacturers and service providers create interactive digital media products, said on Monday that it has raised $25 million in a new round of funding, led by new investor AllianceBernstein.

McLean, Va. - Mobile Posse, a provider of permission-based mobile advertising services, has raised $10 million in its second round of funding, led by SoftBank Capital, PEHub.com reported.

Reston, Va. - Avail Media, a provider of IPTV and other media services to broadband operators, announced on Thursday that it has raised $25 million in its second round of venture capital financing.

Menlo Park, Calif. - Emerging from stealth mode, Gizmoz, the developer of a new service that lets users create 3D talking characters and videos for use in blogs, social networks and e-mail, said on Thursday that it has raised $6.3 million in its first round of funding from Benchmark Capital and Columbia Capital.

Herndon, Va. - Ruckus Network, a provider of digital entertainment services to more than 900 college campuses, said on Thursday that it has raised $10 million in its second round of funding, co-led by new investors Anschutz Investment and Columbia Capital.

Reston, Va. - Avail Media, a provider of advanced media services to broadband operators, said on Tuesday that it has raised $17 million in its second round of venture capital funding, co-led by Novak Biddle Venture Partners and Columbia Capital.

Baltimore, Md. - Millennial Media, a developer of mobile advertising technology, announced that it has raised $6.3 million in its first round of venture capital financing.