Wang Feng, CEO of mobile game developer LineKong, confirmed today the company had secured $80 million of Series C funding from consortium consisted of Orchid Asia, SAIF Partners, Starwish Global Limited, Profitable Century International Limited.
Wang Feng, CEO of the company, disclosed that the capital will be used for R&D, team construction, among others. Wang added that the company planned to release ten mobile games in 2014 with more than half of them to be developed by LineKong team.
Wang has previously disclosed that the company has record profits and planned to launch IPO in this year.
Started as a client game developer, the company shifted its focus to mobile games last April. Its premium products are mobile RPG game The Legend of King and Sword of Sky. Wang claimed The Legend of King has recorded a monthly turnover of 45 million yuan (around $7.4 mn) as of August last year.
Both Wang Feng and Liao Mingxiang, president of the company, had worked in Kingsoft for several years before founding LineKong . Wang is also the cofounder of smartwatch manufacturer Tomoon.
image credit: LineKong