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Gamefam nets $25 million to create even more Roblox games
Gamefam has created top Roblox titles including Twilight Daycare and Tower of Misery.
March 23, 2022
1 Min Read
Gamefam, a publisher and developer that works in Roblox, has secured $25 million in funding to increase its headcount to over 100 employees and bring new franchises to the "metaverse."
The studio has previously partnered with companies including Mattel, Disney, Sony, Ubisoft, and Paramount to create custom branded experiences in Roblox.
Gamefam currently has more than 30 games on Roblox, including numerous titles in the Top 25 charts such as Twilight Daycare, All Star Tower Defence, and Tower of Misery.
The company's entire portfolio currently generates over 750 million monthly visits, comprising 83 million hours of engagement.
Gamefam is also working to expand its franchises beyond the Roblox platform, and has plans to release a toy line based on Twilight Daycare in July 2022.
"We have been able to bring together experts from triple-A gaming as well as some of Roblox's top native talent to drive successful revenue growth for our games, create opportunities for brands, and build new franchises," said Gamefam CEO Joe Ferencz, outlining the company's business model in a press release. "We are pioneering a new type of creative media business born from the metaverse."
The investment news comes just weeks after Roblox's waning growth began to worry investors. It also arrives a few months after Roblox was criticized for allegedly taking advantage of young creators by implementing an exploitative business model.
About the Author(s)
News Editor, GameDeveloper.com
Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.
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