Washington video game company ProbablyMonsters announced the closure of a record $200 million Series A funding round on September 1st. The money will be used to allow ProbablyMonsters to continue growing its business while providing “long-lasting stability for people-first gaming careers,” according to a statement from the company. Founded in 2016, ProbablyMonsters consists of three distinct development teams: Firewalk Studios, Cauldron Studios, and a yet-unnamed third team that is working on an unknown RPG project. All three teams are considered “AAA,” and are made up of over 230 employees as it stands now.
“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,” said ProbablyMonsters CEO Harold 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.”
ProbablyMonsters was founded to change the way AAA development is viewed. The goal, according to Ryan, is to create a sustainable development model that avoids many of the pitfalls associated with the business. It’s not a publisher – in fact, both Firewalk and Cauldron have signed deals with separate publishing partners – but a sort of incubator for AAA developers.
The financing round was led by LKCM Headwater Investments, an arm of Luther King Capital Management in Fort Worth, Texas. Much of the money was raised from investors who had contributed to ProbablyMonsters’ previous funding rounds, though specific names were not released.