K2 Network Closes $16M Investment

Officials from free-to-play MMO game company K2 Network (War Rock) announced today that the company has received $16 million in series B funding. The company stated that it will use the funds to develop and internationally market online multiplayer games as part of its Free2Play PC gaming service. The round of funding was led by Intel Capital, the investment arm of Intel Corporation, with additional contributions coming from new investors Greycroft Partners, Khosla Ventures and Novel TMT Ventures as well as returning investors BV Capital and mvp Capital. K2, which has an operational presence in the United States, Korea and India, serves “over 10 million gamers in over 100 countries,” according to the company. Today's funding announcement follows K2's recently confirmed partnership with major electronics firm Samsung, which will see the release of the Korean MMO Red Stone in five countries, including North America, this summer. “K2 Network has demonstrated leadership in this market with its innovative business acumen to build a gaming company that is focused on service-oriented architecture,” said Joshua Hong, CEO and Co-founder of K2 Network. “K2 Network is in a position to take some major steps in growth and market share and we are glad Intel Capital, as a strategic investor, is supporting us as we write the next exciting chapter in our company’s history.”