Investment for Entertainment Company

Kabam, formerly known under the name of Watercooler, based in Redwood City, CA, announced earlier this day that it received a $30 million in series C funding. This round was led by Redpoint Ventures and Intel Capital from Menlo Park and Intel (NASDAQ: INTC) from Santa Clara. Another participant was the Menlo Park based venture capital company Canaan Partners which incubated Kabam in its offices at seed stage.

Kevidn Chou, Chief Executive Officer of Kabam declares that “Kabam has pursued a distinctly different strategy than other social game companies. Rather than target ‘casual’ players, we are focused on creating a new segment of games that appeal to a more core gamer demographic. Our market success to date demonstrates that our strategy of creating this new segment of massively multiplayer social games is really resonating with players. This infusion of capital enables us to further our aggressive growth plans as we continue to hire the industry’s best engineering and creative talent and seek appropriate acquisition and partnership opportunities in the technology, team, and product areas.”

Maha Ibrahim, the general partner at Canaan Partners, which has counseled and funded Kabam since its beginning, said that “This heavily oversubscribed Series C financing round validates Kabam’s leadership in this market.”Mr. Allen Beasley from Redpoint Ventures also said that “Kabam’s commitment to leading the creation of the next wave of social games is extremely exciting and we are eager to see it continue to experience explosive growth around the world.”

Kabam, a company that had initially had 20 employees in the early 2010, has grown to 200 at the present moment and has studios in Redwood City (where the headquarters are), San Francisco and China. The investment is going to help the company further grow and expand fits studios, create a greater variety of brand and original social games and make acquisitions as the ones of WonderHill from October last year. The company has also raised in the past a total of $9.5 million from Canaan Partners in first and second round of funding.

The recent quality portfolio of Kabam include the names of Kingdoms of Camelot®, Dragons of Atlantis™, and Glory of Rome™. Unlike other companies that offer “casual” social games, Kabam offers its players a competitive environment, real time chat and also “synchronous gameplay”, which allow the gamers to play in real time in game worlds populated by millions of people worldwide.