International Mobile Entertainment Company Expanding Offering for New and Established Developers
BEIJING – Oct. 18, 2013 – Leading international mobile entertainment company Chukong Technologies today announced it has secured $50 million in Series D funding led by New Horizon Capital, a leading China-focused private equity fund, with participation from existing investors GGV Capital, Sequoia Capital, Steamboat Ventures and Northern Light.
The company announced it was generating $12 million in monthly gross revenue this August, and the round brings its total funding to $83 million to date. Chukong Technologies will use the funding to expand its success in mobile game development, publishing and game engine development. The fund will also be used for R&D and marketing expense for developing a mobile entertainment platform.
“With the proliferation of smartphones across China and countries worldwide, we see a significant opportunity not only to publish polished games and entertainment content but also to provide tools for developers to access emerging mobile platforms and overcome challenges caused by device fragmentation,” said Haozhi Chen, CEO of Chukong Technologies. “There is a bigger play here than offering discrete mobile game experiences, and that’s what we’re going after.”
Commenting on the partnership with the New Horizon Capital-led consortium, Mr. Chen stated, “We welcome the continued support from our existing investors, as well as from New Horizon Capital. Their investment is a strong endorsement of our past achievements and great confidence in our future growth potentials. We look forward to building a more exciting chapter of Chukong Technologies with our strategic investors.”
Chukong Technologies develops and publishes first-party mobile games under the Coco brand (formerly branded as PunchBox) and also works with top-tier developers like Gameloft, Nexon, Disney, Gamevil, and Konami as an international localization and publishing partner market under its CocoaChina brand. With more than one billion sessions per month, 350 million activated downloads and 63 million monthly active users, Chukong Technologies is a clear leader in the mobile space.
To support the entire mobile development ecosystem, Chukong Technologies supports and maintains Cocos2D-x, a cross-platform open source game engine. More than 400,000 developers in 150+ countries use Cocos2D-x, including 70 percent of the top grossing games in China and companies like Zynga, Wooga, Gameloft, Glu and Konami. In addition to powering games for iOS and Android, the engine supports development for Windows, Mac and HTML5.
Chukong Technologies is based in Beijing with offices in Tokyo, Seoul, Taipei and Menlo Park, California. To learn more about the company visit, www.chukong-inc.com.
About Chukong Technologies
As the largest mobile game company based in China, Chukong Technologies is a leading game developer, international publishing partner and gaming community manager under its Coco and CocoaChina brands. Chukong has helped some of the world’s largest mobile developers navigate the complexities of the Chinese mobile market, as well as published many of the most popular mobile titles in China, such as the Fishing Joy franchise. Chukong also sponsors and manages Cocos2D-x, one of the most widely used 2D game engines in the world.
Chukong Technologies aims to become a leading digital distribution company and is currently expanding its infrastructure and partnerships to facilitate new business opportunities. Headquartered in Beijing, China, the company also has operations in Tokyo, Seoul, Taipei, and Menlo Park, California. For more information, please visit http://www.chukong-inc.com/ and follow the company on Twitter at @CocoaChina.
Tristan Kruth, TriplePoint