Kabam Raises $30M in Series C Funding
Published On January 20, 2011 |
Kabam, a Redwood City, CA-based developer of massively multiplayer social games, has raised $30m in Series C funding.
The round was led by Redpoint Ventures and Intel Capital, with participation from existing investor Canaan Partners, which incubated Kabam at the seed stage.
The company intends to use the funds to further expand studios, to hire engineering and creative professionals, produce original and branded social games, and make targeted acquisitions (it acquired WonderHill in October 2010).
Founded in 2006 and led by CEO Kevin Chou, Kabam has offices in San Francisco and Beijing, China and currently employs over 200 people. Its portfolio includes Kingdoms of Camelot®, Dragons of Atlantis™, and Glory of Rome™. Other games are scheduled for launch in early 2011.
The company’s strategy is to combine massively multiplayer online strategy and role-playing games with the social connectivity and interaction provided by social platforms.