On 26 May, Kabam, a leading free-to-play MMO social games company headquartered in Redwood City, San Francisco announced series D funding of US$85 million. The round was spear-headed by Google Ventures and Pinnacle Ventures. Additional funding was provided by Performance Equity and SK Telecom Ventures, as well as previous financial investors Canaan Partners, Redpoint Ventures and Intel Capital. Total funding now amounts to US$125 million. I spoke with Andy Lee, Managing Director of Kabam Asia to find out more.

Originally named Watercooler, the company was founded in 2006 and focused on developing sports and entertainment apps. In 2009, they shifted strategy and experimented with building a social multi-player game, Kingdoms of Camelot which was launched on Facebook and became very successful. In August 2010, the company changed their name to Kabam and has exploded from 25 people to over 400 people in California, Luxembourg and Beijing. Kabam China now has around 80 staff and with multiple games teams made up of engineers, artists and game producers. Kabam values the gaming industry at US47 billion and believes it is “ripe for disruption.”

Highest revenue per user in the industry, “many times” higher than peers

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Jason Lim

Jason is an Australian born Chinese living in Beijing, specializing in entrepreneurship, start-ups and the investment eco-system in China, especially in the tech and social area.