Playful Corp. today announced it has received $25 million in capital funding from a group of private investors. The studio had previously raised $8 million in 2012. Playful will use the funds to accelerate the development of original IP for cutting edge platforms.
“Interactive entertainment is the 21st century art form,” said studio founder and CEO Paul Bettner. “Now, thanks to breakthrough technologies, our players will literally inhabit our stories, reach out and embrace our characters. It is indistinguishable from magic. That’s why we raised this money. Because the most important growth opportunity our industry has ever experienced is starting now.”
Playful is the creator of Lucky’s Tale, the wildly popular character action game designed exclusively for virtual reality. Lucky will make his debut alongside the consumer version of the Oculus Rift virtual reality headset in 2016. Playful is also developing Creativerse, a next-generation sandbox adventure currently in early access on Steam with rave reviews from its beta players. With the new funding, Playful will aggressively expand these internal development teams and also fund new, original projects.
“We’re inspired by Snow White, by Toy Story, by Mario,” Bettner said. “These beloved stories and characters share something in common: technology made them possible. Motion pictures, CG characters, interactive video games — these advances enabled fundamentally new levels of empathy and audience connection. We founded Playful to carry on this tradition.”
Playful is seeking world-class game makers and bright new talent to join its team. The studio is proud to offer industry-leading compensation, an uncompromising work-life balance, phenomenal benefits, and a flat management structure.