Mobile social game developer FunPlus secured $74 million of Series B financing from Orchid Asia, SteamBoat Ventures, and existing investor GSR Ventures, raising the company’s total capital received to more than $87 million together with the $13 million Series A funding gained in 2012.
The fund raised this round will be injected in marketing and recruitment of excellent game designers and developers, said Andy Zhong, CEO and co-founder of the company.
FunPlus eyes global market since the very beginning of its establishment in 2010. Although the company is yet to be a familiar name to Chinese players, it has earned its credit as the largest Asia social gaming vendor in terms of daily active users on Facebook platform.
The company’s signature games are Family Farm which claims over 4 million daily active users, Royal Story, Fantasy Slots, three games that are available on Facebook platform, as well as Family Farm Seaside, a social game on iOS, Google Play and Amazon platforms. FunPlus’s games are all free-to-play and the company gains profits by selling virtual goods.
FunPlus now claims more than 6 million daily active users as of present, mainly from European and North American markets, which account for 55% and 40% of the company’s total revenue respectively, disclosed Dan Fiden, CSO of the firm. He adds that company’s annual revenue is expected to reach 175 million to 219 million dollars in 2014, while its ARPDAU stands at around 0.1 dollar. The company planned to release 2-3 new games in 2014.
FunPlus was co-founded by three experienced entrepreneurs: Andy Zhong (CEO) is the head of the developer team behind Birthday Cards and Zoo World, two popular apps on Facebook platform; Guan Yitao (CTO) is a software architect once worked in tech companies like Ask.com, Yousendit.com and IBM; Chen Qi (COO) is the former CEO at Spil Games Asia and founder of social networking site 360Quan. FunPlus has over 200 employees and is headquartered in Beijing, with offices in San Francisco and Vancouver.
image credit: FunPlus