Los Angeles-based game developer Riot Games has announced the completion of its first round of independent equity funding, totaling $1.5 million, as well as the appointment of several new company executives.
In addition to its new funding, Riot Games has added Brandon Beck, a former media and technology consultant from Bain & Company, as the studio's new chief executive officer. The company also added former Advanstar Communications manager of corporate marketing, Marc Merrill, as its president and chief marketing officer. William Petro, who helped launch Atari's Backyard Sports
franchise and was a lead programmer for Westwood Studios' Command & Conquer Red Alert
, was also named as Riot Games' chief technology officer and executive producer.
Comprised of individuals from Electronic Arts, Sony, Microsoft, and other video game companies, Riot Games is currently developing an as yet unannounced title that “combines the best elements of the action role-playing and real-time strategy genres into a uniquely fun and competitive multiplayer experience.” Company officials expect to formally announce the game in early 2007.
“Our team is made up of successful and respected industry veterans who all share a passionate vision of our company’s potential,” commenter Merrill. “Riot is committed to delivering innovative products of the highest quality that focus on gameplay and replayability in order to build deep, ongoing relationships with gamer communities.”