Startup developer-publisher Sparkplay Media has announced that it has secured $4.25 million in financing from Redpoint Ventures and Prism Ventureworks.

The company says it will use the funds to expand development of its first MMO, Earth Eternal, as well as other browser-based 3D multiplayer games.

Sparkplay was founded by former Iron Realms (Achaea) principals Matt Mihaly, Chris Kohnert and David Kaye, and the management team also includes veteran development consultant Martin Best as VP of production. The company indicates that its vision encompasses both MMOs and virtual worlds.

Said Mihaly, "We’ve been self-financing, and thus bootstrapping, for two years now and are incredibly excited about the chance to expand and accelerate our plans. We’re developing a different kind of game: one that combines compelling traditional MMO gameplay with new experiences that can be shared with friends on social networks and beyond."