News: Turbine - Yet more Venture Capital and a change of direction? - Massive Multiplayer Online Gaming Forums by MMOTricks.com

05-01-2008, 05:30 AM

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News: Turbine - Yet more Venture Capital and a change of direction?

GamaSutra reports that:

Westwood-based MMO game developer Turbine has secured $40 million in Series C financing, according to a regulatory filing discovered and reported by Private Equity Hub. Turbine has raised over $90 million in VC funding to date.

Granite Global Ventures led the round, with managing partner Hani Nada taking a seat on Turbine’s board. Previous investors also joined in, including Highland Capital Partners, Polaris Venture Partners, Tudor Ventures, and Columbia Capital.

Turbine’s catalog of subscription-based PC MMO titles include Asheron’s Call, Lord of the Rings Online, and Dungeons & Dragons Online. The company appointed former m-Qube COO Jim Crowley as its new CEO in a round of new executive hires in late 2007.

Though representatives were unavailable to comment on the funding this morning, Turbine is expected to announce future plans for its direction in two weeks.

Read the story Here

Source: GamaSutra

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