ProbablyMonsters Closes The Largest Series A Round of $200m
💵 Series A Funding
US-based independent game company ProbablyMonsters, which builds and sustains a family of AAA game studios, has raised a $200m in Series A round led by LKCM Headwater Investments. The round is considered to be the largest Series A raise in game development to date.
ProbablyMonsters has plenty of plans for the proceeds, which will be used for expanding the company’s live operations and community features, financing its three upcoming games, enhancing benefits to employees, expanding its long-term resources, and boosting its business and headcount growth.
🎲 Product & Business Overview
The company has been founded by former Bungie president and CEO Harold Ryan with the goal of creating a business that gives its developers full creative freedom. ProbablyMonsters team has collectively worked in more than 70 major companies and has been developing dozens of AAA games
- Currently, ProbablyMonsters’s development teams are working on multiple AAA game projects at the same time:
- Firewalk team led by Activision Publishing’s former employee Tony Hsu is working on a yet announced multiplayer AAA game. In Apr’21, the studio entered into an agreement with Sony Interactive Entertainment as its exclusive publishing partner
- Cauldron team led by ex-Bungie art director Dave Matthews is developing an undisclosed single-player adventure game
- The yet-unnamed RPG-focused studio is reportedly developing an open-world co-op game
💵 Previous Funding
- In Oct’19, ProbablyMonsters raised $18.8m in a Seed funding round