Game Peripheral Maker Razer Raises $50M in First Round
Carlsbad, CA-based Razer bills itself as a maker of “professional gaming” hardware, which always struck me as an oxymoron, like “jumbo shrimp.”
Nevertheless, Razer just demonstrated how serious it is, raising $50 million in a Series A round venture round led by the IDG-Accel China Capital Fund, a global investment fund established by IDG and Accel Partners.
Razer was founded in 1998 by Min-Liang Tan and Robert Krakoff, and says its capital previously came from angel investors and the company’s own global operations. Over the past 13 years or so, Razer says its operations have grown to hundreds of employees in nine cities, including San Francisco, Hamburg, Seoul, Shanghai and Singapore.
“We took a long time raising our first VC round as games like Battlefield 3 kept us pretty busy recently,” CEO Tan says in a statement from the company. “More importantly, we took our time selecting an institutional investor as we wanted to find a partner that understood our commitment to gaming and our no-compromise attitude to designing products. Plus these guys didn’t freak out when we disappeared for a week in the middle of the deal when Skyrim launched.”