Massively multiplayer online game developer Turbine Inc. has completed a new $40 million third round of funding, according to a
report on PEHub.com. First-time investor Granite Global Ventures led the round, while existing backers Highland Capital Partners, Polaris Venture Partners, Tudor Ventures and Columbia Capital kicked in additional money.
Granite Global Ventures specializes in introducing U.S.-based companies
to the Asian market and maintains offices in Silicon Valley, China and
Singapore. Former Turbine CEO Jeff Anderson
told The Deal in 2005 that the company was enjoying especially rapid growth in Korea and China, and it forged a partnership with Chinese game operator Shanda Interactive Entertainment Ltd. to develop and localize games for the Chinese market. (Anderson has since left Turbine to lead Play Hard Sports, a PC game developer that
announced $5 million in new funding from New Enterprise Associates last month.)
In the past two years, Turbine has fashioned games based on the Lord of
the Rings movie trilogy and the interactive game Dungeons & Dragons, and
released virtual world game Asheron's Call in 1999. The venture
investments followed almost a decade of more modest growth after the
company was founded in 1994.
Turbine has raised a total of $88 million, including an $18 million first round from Highland and Polaris in 2003 and a $30 million Series B round in May 2005.
-- Paul BonanosSee April 29 post from PEHub.comSee May 2005 article from The DealFor more see
Xconomy
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