Demeo’s Resolution Games Closes $25m Funding Round
Resolution Games has one of the biggest back catalogues of any virtual reality (VR) developer, having released Blaston, Acron: Attack of the Squirrels, Bait!, Angry Birds VR, and most recently Demeo. Helping strengthen its position within the industry, today, Resolution Games has announced the successful closing of a $25 million USD Series C funding round.
Co-led by Qualcomm Ventures LLC and BITKRAFT Ventures, the round also saw Knutsson Holdings AB, GV, MizMaa, GP Bullhound, Partech, Creandum, Initial Capital, Bonnier Ventures and Sisu Game Ventures all participate. This now brings Resolutions Games’ total funding to $38.5 million. The announcement also sees Boaz Peer, Senior Investment Director, Qualcomm Ventures Europe and Israel at Qualcomm Israel Ltd., joining the board of directors, and Malte Barth of BITKRAFT Ventures, becoming a board observer.
Resolution Games plans on using the funds to continue its push into live VR videogames, scaling its business and teams to build new titles. The studio will also continue to support its existing roster of videogames, dedicating more resources to this endeavour. Most recently, Resolutions Games released the Realm of the Rat King expansion for turn-based dungeon crawler Demeo. The title has become a massive hit surpassing the multi-million dollar mark in revenue.
“Six years ago, Resolution Games was one of the first studios focused on VR and AR. We’ve learned a lot, worked in a time with limited technology, survived a small market, and have continued to think big-picture and long-term,” said Tommy Palm, CEO of Resolution Games in a statement. “We see vast potential in VR and that the market is maturing. We want to up the game and standard for quality to ensure VR users have the best possible experience, and that VR games not just meet – but surpass – the potential from what we’ve seen on other platforms like PC and console.”
“The VR market is growing at an accelerated pace, and we expect this trend to continue in the next few years,” said Peer. “Resolution Games has demonstrated it can create world-class IP, compelling immersive experiences and has shown great leadership across the market. We are excited to invest in Resolution Games to support the growth of superior mobile VR and AR experiences.”
Resolution Games currently has 14 videogames currently on the market for VR and augmented reality (AR) devices and as that roster continues to grow, VRFocus will keep you updated.
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