China-based mobile gaming startup FunPlus has secured $74m in a series B round featuring Steamboat Ventures, the US and China-based venture fund affiliated with Walt Disney.
China-based investment group Orchid Asia Group Management and China-based venture capital firm GSR Ventures also participated in the round. GSR Ventures previously funded FunPlus’ $13m series A round in 2012.
FunPlus specialises in social games for mobile devices, and its lead game, Family Farm, has 4 million daily users, according to the company. Founded in Beijing in 2010, it has since opened offices in San Francisco and Vancouver and has doubled its revenue year on year since 2011.
“We are pleased that Orchid Asia Group, GSR Ventures and others have recognised our success and are coming on board at this time to accelerate our growth to the next level,” said Andy Zhong, CEO of FunPlus. “This new round of funding will help us expand more quickly into new markets and to recruit and hire the best game development talent in the world.”
Other China-based game developers in Steamboat’s portfolio include Cocoa China, Troodon and Youxigu.