Survios, the workshop behind VR titles The Walking Dead: Onslaught (2020 ), Creed: Rise to Glory (2018 ), as well as Raw Data (2017 ), has actually secured one more round of funding to the song of $16.7 million. The news was initially reported by Venture Beat.
Survios’ most recent round brings the company’s total financing to $70.9 million, with its most recent Series C generating the lion’s share of $50 million back in late 2016.
The round was financed by a variety of South Korea-based firms, as well as was led by SeAH Group’s financial investment wing Irongrey with involvement from Woori Technology Investment, KNET Venture Fund, Seoul Investment Partners, and Samsung Next. Silicon Valley’s Shasta Ventures as well as Lux Capital also took part in the round.
With the brand-new funding, Survios has generated Mike Medrano as VP of Marketing (previously of PUBG and Blizzard), TQ Jefferson as Chief Product Officer, and also Art Director Tate Mosesian (formerly of Naughty Dog).
Survios’ CEO Seth Gerson, who took the blog post in 2018, tells VentureBeat that he sees the financing as “a ‘Survios matures’ round.” Gerson sighed on Survios as Chief Business Officer in 2016.
Although there’s just been a few true indie success tales in the VR industry thus far, according to Gerson virtual reality is about to hit its stride with the recent pickup of Virtual Reality headset sales.
“The systems are increasing, and also you can really drive a genuine organization now,” Gerson informs VentureBeat. “The chance to ship more than a million units of a video game is there currently, with maybe 8 million systems in the marketplace. That’s been occurring while we kept becoming aware of the trough of disillusionment. You do not need to be a business economics major to understand that demand is outstripping supply.”
Founded in 2013, Survios is among one of the most elderly VR growth workshops out there, currently with seven full-realized VR titles to its name. Along with customer Virtual Reality video game creation, the workshop additionally runs as a VR author of location-based home entertainment games, with a network of thousands of areas across 60-plus nations.
With COVID-19 shutting down several VR games, the workshop reiterates its commitment to making cross-platform titles for customers.