Kabam raises $30 million in funding
Kingdoms of Camelot developer aiming for expansion, acquisitions
Social developer Kabam has raised $30 million (£18.8m) in a third round of funding, capital it intends to use to fuel both organic and acquisition-based growth.
The company, which is focused on strategy-based Facebook titles, says it is looking to expand both its San Francisco and Redwood offices as well as making acquisitions similar to the deal which saw it become the owner of social developer WonderHill last year.
WonderHill specialises in games with some moral substance, turning out the rainforest preservation game Green Spot. Kabam believes that aiming for this market will bring it more dedicated users than the average Facebook title, players who return with more regularity and spend more time on each visit.
The funding also reflects an investment environment which is giving a great deal more credulity to the profit-making powers of social and casual gaming, with large investment funds and corporations all taking note of the growing sector. Companies such as PlayFirst, OMGPOP and Lionside have all seen success in recent funding drives, whilst established players such as Zynga and Facebook are contributing to large start-up funds in an attempt to identify and invest in potential social gaming success.