K2 Network secures $16 million

K2 Network, an MMO service company operating in the US, Korea, and India has closed a USD 16 million Series B round of venture capital led by Intel Capital.

K2 plans to use the funds to further develop and internationally market its portfolio of multi-player online games.

âThe online gaming market segment is experiencing tremendous growth supported by multiple revenue models from subscription, free to play, advertising supported to micro-transaction and virtual currency,â said Alexander Marquez, director of strategic investments for Intel Capital.

âK2 Networkâs extensive gaming knowledge along with its unique Free2Play model is well positioned to capitalise on this exciting opportunity in interactive entertainment.â

Intel Capital, the investment branch of Intel Corporation, was joined by newcomers Greycroft Partners, Kholsa Ventures and Novel TMT Ventures. BV Capital and MVP Capital contributed to both the latest round and the prior round of funding.