Privately held casual game developer, PopCap Games, announced on Tuesday that it had secured $22.5 million in funds from Meritech Capital Partners along with technology investors Larry Bowman and John McCaw. The investment marks the first time that the company has taken outside funding and gives the investors a minority stake in the future of a company that's celebrated 10 years of hit games such as Bejeweled, Peggle, Zuma and Plants vs. Zombies (pictured below).
"We're excited to have additional working capital that lets us be more aggressive with our expansion into social media and reaching new geographies," said David Roberts, CEO of PopCap. "Meritech is a premier late-stage investment firm with a portfolio that includes some of our most important business partners such as Facebook, and adding John McCaw to our investor roster is of huge strategic importance with his deep connections in the mobile and financial communities."
The funds will be used to keep the company's 240 employees moving forward with a mention in the press release stating "possible acquisitions." And while $22.5 million may not seem significant in the world of mega mergers, it appears that the investment wasn't to change the direction of the company, and with the rise of the company's gaming stance on social networks like Facebook with Bejeweled Blitz, we're likely to see versions of the game's entire catalog take on the social gaming realm.