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Multi-studio game company ProbablyMonsters nets $200 million to continue expansion

Founder Harold Ryan said the deal will secure the company's future "beyond any one triple-A game project."

Chris Kerr, News Editor

September 1, 2021

1 Min Read

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.

About the Author(s)

Chris Kerr

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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