Turbine announced that it has raised $40 million in equity financing. Time Warner and GGV Capital led the investment along with existing investors, Highland Capital Partners, Polaris Venture Partners, Tudor Ventures and Columbia Capital. The investment will be used to further accelerate Turbine’s growth as a global leader in online entertainment.

“Our investment in Turbine is an important addition to Time Warner's entertainment initiatives,” said Rachel Lam, Senior Vice President and Group Managing Director of Time Warner Investments. “Online interactive entertainment is a huge growth market and we are very excited about Turbine, its unique capabilities and the obvious opportunities that exist with our own broad portfolio of IP.”

Turbine is recognized for its industry-leading technology platform, groundbreaking game graphics and its exceptional ability to create and operate multiple massive, persistent online worlds that power hundreds of thousands of interactive social gaming experiences. The company currently operates three award-winning franchises, The Lord of the Rings Online: Shadows of Angmar, Dungeons & Dragons Online and Asheron's Call, and is one of the largest privately-held online gaming studios in North America.