Google Ventures, the corporate venturing arm of search firm Google, is reported to have been one of the investors behind the recent secondary offering to employee shareholders of the US-based game publisher Kabam.
A group of unnamed investors made the secondary offering in July 2013, to buy $38.5m of stock in a deal valuing Kabam at $700m.
Joe Kraus, general partner of Google Ventures, is quoted as saying that Kabam had “successfully made the transition to mobile at a time when many previously Facebook-oriented gaming companies haven’t.”
Kabam’s current investors include search firm Google, entertainment company Warner Brothers, film producer MGM, microprocessor maker Intel, telecoms operator SK Telecom, and investment firms Canaan Partners, Redpoint Ventures and Pinnacle Ventures, amongst others.
Since being founded in 2006, Kabam has raised a total of at least $125m in venture funding, including $85m in a series D funding in 2011 from Canaan Partners, Redpoint Ventures, Intel Capital, Google Ventures, Pinnacle Ventures, Performance Equity and SK Telecom Ventures. In December 2012, Kabam raised an undisclosed amount of funding from Warner Brothers Entertainment and MGM Studios.