PopCap Games Receives $22.5 Million In Funding
6:00 AM | Cord Kruse | 2 comments
PopCap Games, the company responsible for popular casual games like Bejeweled, Peggle, and Plants vs. Zombies, has announced that it has secured $22.5 million in funding. The new funds will be for expansion into "social media and reaching new geopgraphies," as well as for "potential acquisitions."
Meritech Capital Partners led the funding round, which also included tech industry investors Larry Bowman and John McCaw. PopCap said the funding represents a minority stake in the company, which "has maintained profitability since its inception" 10 years ago. The Seattle-based game maker employs over 240 full-time staff across several locations worldwide.Visit the Gamasutra page below to read more.
Gamasutra: PopCap Games' New Funding
Meritech managing director Rob Ward said, "While other video game companies put out more flops than hits, PopCap has never produced a game that wasn’t a critical and commercial success. Taking the company’s boutique development style and universally appealing product lineup to the top of the video game food chain will be an exciting, potentially industry-changing, experience and we’re happy to be a part of it."
PopCap CEO Roberts added, "We’ve been pursued by investment firms for many years and have resisted taking outside capital, but we liked Meritech’s style and believe there’s a tremendous opportunity to grow and evolve our business at a time when many other video game firms are retrenching."
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