Video game startup ProbablyMonsters announced today that it raised $ 200 million in a Series A business financing round led by LKCM Headwater Investments.
Helping Game Developers Achieve
LKCM is the private equity arm of the investment advisory firm Luther King Capital Management and its affiliates, a company that has already invested in ProbablyMonsters. The video game business, which builds “AAA” game studios, plans to use the commercial funds raised to stimulate further growth and continue to provide stability for people-first gaming careers.
AAA is an informal classification used to categorize games produced and distributed by larger publishers. These companies tend to have much higher development and marketing budgets than other tiers of video games.
ProbablyMonsters cooperates with game development teams and equips them with the necessary resources and the right environment to build lifelong careers. The new business funding is expected to drive and support the video game startup’s multiple AAA game projects across the entire number of its internal development teams.
“As part of our growth, we are now confident beyond any AAA gaming project, predictably providing our teams with stable, creatively rewarding and long-lasting gaming careers,” said ProbablyMonsters founder and CEO Harold Ryan.
“Our goal is to make ProbablyMonsters a home where visionary developers can build meaningful careers, thrive in a positive culture, and deliver incredible experiences to generations of gamers around the world.”
Trading funds will be used to grow live trading and features to better interact with players, among other plans. The new capital will also be used for the three game studios announced by the startup. In addition, the funds will be used to improve benefits for your employees and increase resources in the long term. At the moment, ProbablyMonsters has more than 230 employees and aims to continue its current annual growth rate of 50% of the workforce.
Startup company leader Harold Ryan has around 20 years of experience in the video game industry and has acquired more than $ 5 billion in game franchise revenue. Monsters teams probably consist of the best game developers who have collectively worked on dozens of game franchises from over 70 companies. Before starting the company, Ryan was the CEO of Bungie, the game development studio behind the successful Halo and Destiny franchises.
“We are excited to expand our partnership with ProbablyMonsters, reflecting our confidence in the team’s strong progress executing on its vision to develop a portfolio of games led by a proven, well-aligned and exceptionally talented team in a culture carefully developed from our initial investment. in 2018, “said Bryan King, Managing Partner of LKCM Headwater Investments.
Teams in the ProbablyMonsters family develop their own kind of gamer experience, but share the company’s mission to create exceptional gaming and entertainment experiences. Earlier this year, the startup company’s Firewalk team struck a deal with Sony Interactive Entertainment to be the global publisher of its inaugural AAA multiplayer game.
Summary
Video game development business ProbablyMonsters said it raised $ 200 million in a Series A funding round spearheaded by LKCM Headwater Investments. The startup plans to use the new capital to achieve its growth plans, support its multiple AAA gaming projects, grow its live operations, and more.
