Phoenix Labs has announced that it has “raised a Series C financing led by Sapphire Ventures, with continued support from Everblue Management and other current investors.” While Phoenix didn’t disclose the value of this new investment round, it’s enough to let the Dauntless developer “expand our live service operations at Phoenix Labs and create new and exciting content even faster, keeping the heart beat of Dauntless steady and vibrant for years to come,” said CEO Jesse Houston.

Houston spoke at greater length to GamesIndustry about the new investment, which he said would give the company “a couple years of runway.” He called the open beta “better than we could have possibly anticipated,” with revenue being five times better than their expectations, and still growing, though he stresses that the game is still very much in development. He also said that Phoenix Labs isn’t spending much on advertising or other forms of user acquisition, content instead to bring people in through streamers or YouTubers.

Interestingly, he also credits Monster Hunter World with helping to boost Dauntless. When it launched earlier this year, some people thought Capcom’s juggernaut title might eclipse the smaller studio’s similar game, but Houston said that hasn’t been the case.

“When those [PC and console] games have launched, we tend to see significant spikes in engagement in the positive for us. When they do a big marketing push, our sign-ups go up… It really opened the genre up. One of the operational challenges we had as a publishing team was how to grow that [monster-hunting] market in a cost-effective manner. Along came Capcom and really helped us in broadening that audience. Hopefully we helped them in some ways as well.”

the author

Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.

4 Readers Commented

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  1. derpina on October 23, 2018

    Garbagio

  2. rickshaw on October 22, 2018

    This is exactly what gaming was and still should be, good business practices.

    Not the begging for free cash from individual players through crowd funding and early access.
    Worse culprit and abuser of handouts ever = Star Citizen, still wanting handouts.

    • BillyGoat on October 22, 2018

      I guess the gaming market has been corrupted so badly that people most i used to know have quit multiplayer online.

    • TreadHead on October 23, 2018

      This game had founders packs though

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