Seattle-based video game developer completes major funding round
By Bob Garcia
ProbablyMonsters picks up $200 million to expand its video game development
A Series A funding round turned out to be quite successful for ProbablyMonsters, a Seattle-based video game company, after announcing two days ago that it raised a total of $200 million. Now with this money, the company intends to make big changes and improvements, including the construction of new studios.
Former Bungie CEO Harold Ryan was the one who decided to found ProbablyMonsters in 2016. The company is a collective that bills itself as “building a family of sustainable game studios through a people-first culture.” Unlike many traditional game publishers, this company takes a more active role with respect to business management. The idea is to be able to give more freedom to all the staff of its studios so that they have more time to work on creativity. According to Forbes, never through a Series A has a video game company raised such a large sum, which speaks volumes about ProbablyMonsters.
Via a press release, the company has made it clear that with this $200 million, it now intends to continue to grow the business, while providing “long-lasting stability for people-first gaming careers.” In other words, ProbablyMonsters management plans to hire employees and keep them for a long period of time, rather than churning them through the hiring cycles and various layoffs that are fairly common in high-end video game development. In addition, with the money, it will also be able to expand community participation through live operations.
“As part of our growth, we are now secure beyond any one AAA game project, predictably providing our teams with stable, creatively rewarding, and long-lasting gaming careers,” Ryan said in a press release. “Our goal is to make ProbablyMonsters a home where developers with vision can build a meaningful career, thrive in a positive culture, and deliver amazing experiences to generations of gamers across the world.” Ryan’s idea is to create a culture of respect, beyond the mere creation of original intellectual properties.