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Red 5 Secures $18.5 Million Investment

| 12 Dec 2006 13:14

Red 5 Studios, a new development group made up of former Blizzard employees, has gained new investment from Benchmark Capital and Sierra Ventures.

Mark Kern, the former team lead on World of Warcraft and CEO of Red 5 is obviously pleased with the new round of investments. "With the financial backing and operational advice of Benchmark and Sierra, our uniquely talented team will have the resources to create the most exciting massively multiplayer titles for a worldwide audience," he said in a press release today.

While Red 5 has not made any details known about their first game, they have already signed a deal with Webzen for worldwide publishing and financial support. The new development group is obviously gaining traction quickly thanks in part to the success of World of Warcraft. A quick glance at the employee roster shows a number of former Blizzard employees, just the right ingredient for investor interest.

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