Kabam nets extra $85 million funding
Total funding reaches $125 million as Glory of Rome developer targets Asia
Social games developer Kabam has raised $85 million in new Series D funding, with the company's total for new investments now standing at $125 million.
The funding round was co-led by Google Ventures and Pinnacle Ventures, with additional investment from Performance Equity and SK telecom ventures and previous investors Canaan Partners, Redpoint Ventures and Intel Capital.
Kabam will continue to focus on social games for core gamers, with games such as Kingdoms of Camelot, Dragons of Atlantis, Glory of Rome, and Global Warfare. In the last 16 months the company has grown from just 25 employees to over 400.
Five new titles are expected to be released in 2011, with the new funding being used to aid further international growth - particularly in Asia - and to make acquisitions.
An independent survey recently conducted by Kabam suggests that over 80 per cent of people who play strategy and role-playing game style social games also play games on 'core platforms' such as consoles. The company intends to release an in-depth report based on the study in the coming months.
"Kabam provides hardcore gamers using social networks two important benefits - a highly immersive, engaging game experience along with frictionless pricing and convenient access. We've tapped into a major shift in hardcore gamer behaviour, as we create compelling social gaming experiences for traditional console and PC gamers," said Kevin Chou, CEO of Kabam.
"This round of funding enables us to build long term franchises and invest in amazing gaming experiences for our customers. We have a full pipeline of games and look forward to sharing more exciting news about our upcoming titles as we move through the year."
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