ProbablyMonsters, the multi-studio game company established by former Bungie president and CEO Harold Ryan in 2016, has raised $200 million in Series A funding to build "long-lasting" studios and franchises.

The financing round was led by LKCM Headwater Investments and according to Ryan will provide lasting stability while the company, which currently operates three game studios, expands its live operations and community engagement efforts.

"As part of our growth, we are now secure beyond any one triple-A game project, predictably providing our teams with stability, creatively rewarding and long-lasting gaming careers," said Ryan.

"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."

Aside from supporting ProbablyMonsters' existing trio of studios, Ryan explained the deal will open the door "for future teams and IPs in more genres," with the founder keen to bolster the company's 230-strong workforce in the near future.

The news comes less than a year after ProbablyMonsters opened an unnamed next-gen studio led by a group of former Borderlands and Torchlight developers. The company's other two studios, Firewalk and Cauldron, are working on multiplayer and narrative projects, respectively.