PopCap Games today announced that it has received $22.5 million in funding. This funding was led by Meritech Capital Partners with help from Larry Bowman and John McCaw. The captial is the first that PopCap has ever raised in their decade-long history.
“PopCap is arguably the most unique video game company on the planet,” stated Rob Ward, managing director at Meritech. “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.”
The funding will be used for potential acquisitions and other operational purposes. Those investing will receive a minority stake in PopCap.
“We’re excited to have additional working capital that lets us be more aggressive with our expansion into social media and reaching new geographies,” said David Roberts, CEO of PopCap. “Meritech is a premier late-stage investment firm with a portfolio that includes some of our most important business partners such as Facebook, and adding John McCaw to our investor roster is of huge strategic importance with his deep connections in the mobile and financial communities. 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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