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Phoenix Labs raises Series C financing led by Sapphire Ventures

Vancouver-based game studio Phoenix Labs has secured an undisclosed amount in a Series C financing.

The round was led by U.S. venture capital firm Sapphire Ventures. It was joined by other existing investors, including Everblue Management.

The company’s other backers include GGV Capital, Next Frontier Capital, Ridge Ventures and Signia Venture Partners.

Founded in 2014 by Jesse Houston, Sean Bender and Robin Mayne, Phoenix Labs develops online multiplayer experiences for gamers.

It will use the funds raised to expand its Vancouver and San Mateo, California studios, increase live service operations and development of new content for its debut title, Dauntless, and explore new platforms.

PRESS RELEASE

Phoenix Labs Announces Series C Financing Led By Sapphire Ventures To Expand Studio Operations and Development of Action-RPG, Dauntless

Financing to Bolster Live Service Operations, Content Expansions and Platform Availability for Dauntless as Player Community Grows Beyond 2 Million Players

October 22, 2018

VANCOUVER–(BUSINESS WIRE)–Phoenix Labs, an independent game studio committed to building shared gaming experiences, has raised a Series C financing led by Sapphire Ventures, with continued support from Everblue Management and other current investors. The funding will provide Phoenix Labs with the resources to expand their Vancouver and San Mateo studios and increase live service operations and rapid development of new content for their debut title, Dauntless. In addition, Phoenix Labs will continue to build upon the momentum of Dauntless, which surpassed two million players on PC shortly after launching into Open Beta in May 2018, leveraging the new funding to explore new platforms and reach brand new audiences.

“The continued support from Sapphire Ventures and the rest of our current investment team is a testament to our vision of building the next evolution of online cooperative gameplay experiences,” said Jesse Houston, co-founder and CEO of Phoenix Labs. “The soul of Dauntless is in the ever-evolving online world which has kept millions of players and their friends coming back over the last year. The latest funding will help expand our live service operations at Phoenix Labs and create new and exciting content even faster, keeping the heartbeat of Dauntless steady and vibrant for years to come.”

“Phoenix Labs has established themselves in the online gaming world, and we’re excited to help them expand their passionate audience and presence in the global market,” said Dave Hartwig, Managing Director, Sapphire Ventures. “They have ambitious plans for 2019 that will shake up the online world in new and exciting ways, and we’re proud to play a part in their journey.”

Phoenix Labs is made up of industry veterans from BioWare, Riot Games, and other acclaimed studios, helmed by co-founders Jesse Houston, Sean Bender and Robin Mayne. Dauntless is the next evolution of online cooperative action games, built upon a living, breathing world that will continue to grow and expand for years to come.

About Phoenix Labs

Phoenix Labs is an independent game company based in Vancouver, British Columbia and San Mateo, California. The company was founded in 2014 to create games for it’s passionate community and evolve the way great games are made and enjoyed. They aspire to create new AAA gaming experiences that their community will share for years to come. Their debut title Dauntless, a co-op action RPG, is being created by a veteran team from BioWare, Riot Games, and other acclaimed studios. For more information on Phoenix Labs and open positions at both the Vancouver and San Mateo studios visit https://www.phoenixlabs.ca/.

Contacts

Phoenix Labs
Andy Burt, 925-212-6225
aburt@phxlabs.ca
or
fortyseven communications on behalf of Phoenix Labs
Chase Colasonno, 212-391-4707
phoenixlabs@fortyseven.com