Gaming Startup ProbablyMonsters Raises $200M

ProbablyMonsters Inc., a startup video game developer, raised a $200 million Series A on Thursday. 

The round, led by LKCM Headwater Investments, will allow ProbablyMonsters to accelerate growth while continuing to invest in its employees. 

The company previously raised a $18.8 million seed round in 2019, with participation from Dallas Cowboys owner Jerry Jones and former Activision Blizzard executive VP David Oxford.

Now, ProbablyMonsters is leveling up.

“People tell me it’s the biggest Series A raise in gaming ever,” CEO and Founder Harold Ryan told GamesIndustry.biz. “It really is a sweet-spot number that lets us hold to our focus.”

ProbablyMonsters has been busy expanding its offerings. 

• Its FireWalk Studios agreed to an exclusive publishing partnership in April with Sony Interactive Entertainment to deliver its inaugural multiplayer title.
• The company’s Cauldron Studios is creating a single-player adventure title.
• Its third yet-to-be-named studio is working on a role-playing title that will create a community of players. 

Since 2019, ProbablyMonsters has seen average annual growth of 50%.

The Washington-based company expects to increase its number of employees from 230 to 300 by the end of 2021.