Playable Worlds Secures Over $25 Million In Series B Funding Round

Raph Koster and his new development studio, Playable Worlds, have secured another $25 million in investments in their Series B funding round. The round was led by South Korean video game publisher Kakao Games with participation from Galaxy Interactive, Bitkraft Ventures, and new investors Lilith Games and Gainjels.

The studio had also raised $10 million in a Series A funding round in June 2020. Koster says that the new investment will be used to expand their team and towards the development of their unannounced flagship MMO.

“While we're not yet ready to peel back the curtains, this funding round will help accelerate us closer to sharing more with prospective players, with a focus on providing a deeper and more meaningful experience consisting of rich simulations, organic content growth, and social mechanics,” said Koster.

The said MMO will apparently feature a multiverse of some kind which seems to be the current trend in game development.

“Cloud-native online games lead to multiverses of online worlds,” said Playable Worlds Co-Founder and President Eric Goldberg. “And these lead to metaverses when eventually connected to the real world. Cloud computing now enables us to build both stronger sandbox MMO games and connected multiverses of experiences.”

“The technology stack that Playable Worlds has implemented and proven thus far significantly influenced the investment, and will certainly play a role in metaverse development,” revealed Kakao Games CEO Kyehyun Cho. “The technology stack that Playable Worlds has implemented and proven thus far significantly influenced the investment, and will certainly play a role in metaverse development. The caliber of the team behind Raph and Eric ultimately sealed the deal, and we’re confident in their ability to execute.”

You can check out the official press release on the Playable Worlds official site.