Chinese social game company FunPlus picks up $74m from Steamboat Ventures, others


family farm funplusA trio of early stage investors have helped Chinese social gaming company FunPlus close a $74m financing round to help grow the business and launch new games.

Steamboat Ventures, GSR Ventures and Orchid Asia Group provided the capital for FunPlus, which says it has doubled its revenue every year since 2011.

The company previously closed a $13m Series A round in 2012, and is currently focused on recruiting new talent to join its teams in the San Francisco, Vancouver and Beijing offices.

FunPlus said it planned to launch at least two to three additional games in 2014, bringing its total game portfolio to six to eight across multiple platforms.

GSR managing director Richard Lim said, “FunPlus is well-positioned to become one of the fastest growing developers in mobile social gaming.

“We firmly believe in the company’s worldwide growth strategy and the enthusiastic team they are building to bring fun to a constantly-growing worldwide community of gamers.”

The company’s successful games to date include Family Farm and Royal Story on Facebook, and Family Farm Seaside on iOS, Google and Amazon.

All games are free-to-play, and users have the ability to purchase virtual currency and goods.

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