Funcom are an independent developer and publisher that’s mostly known for creating MMO games such as Age of Conan and The Secret World, although its point and click adventure game The Longest Journey was decent too. In recent times, specificaly in 2012, Funcom found itself in financial trouble, forcing it to cut over half its workforce; 165 workers.
Thankfully those desperate moments seem to be behind them, as the publisher announced today that it’s been able to secure 6.3 million USD in private investment funding, which it says is a “major turning point for the company”
“Funcom has been making great games for more than twenty-three years, but it is no secret that the company has had a strained financial situation in recent years that made it challenging to fully realize our new strategy and get back on the right track. This investment allows us to finally do that.”said Funcom CEO Rui Casais.
Debt has been significantly reduced, with 7.7 million USD shredded through a debt conversion process that has no cash impact on the company, and as a result equity has been greatly improved from -10 million USD to more than +4 million USD. Funcom says this will help them secure development on new titles, while allowing it to support a portfolio of excisiting MMO games such as The Secret World and Age of Conan.
“Going forward, Funcom is focusing on developing both smaller and larger scale games simultaneously in both Oslo and North Carolina, and aims to experiment with new ideas, technologies, and business models on the smaller projects that will serve to benefit the larger projects.” said Funcom in a statement sent to GameWatcher.
The Park is one of those smaller projects that Funcom talks about, while its upcoming ‘Conan Exiles’, an open-world survival game that will launch into Early Access during late summer 2016, is what the developer is putting most of its efforts into.
Have you played The Park, The Secret World or Age of Conan? Are you happy to see that the future of these projects in now secure with this latest investment? Let us know in the comments area below!
