Theorycraft Games launched after raising $37.5M

New game studio Theorycraft Games has raised $37.5 million in Series A funding for the development of a new, community-driven multi-platform PvP game, the company announced Thursday.

Theorycraft Games was founded by software veterans from Riot Games, Bungie, Blizzard and Valve Software. The funding round was led by NetEase, Inc.

“We feel pretty damn fortunate -- not only to have gotten off to such a great start to the studio -- but to have found a group of such like-minded partners who believe like we do that games serve fundamental human needs; who support our goal of getting the game in players’ hands quickly and developing the game with them; and most importantly, who understand that we are in this for the long-term,” said Joe Tung, CEO and founder of Theorycraft Games.

“NetEase and our co-investors are the ideal group of partners to help us bring the company’s vision to life.”

The funding will be used to recruit talent to the studio to create deep games that give everyone the chance to connect and compete.

The Theorycraft team is led by Tung, Chief Technology Officer Michael Evans; former Creative Director at Bungie Mike Tipul, as Chief Creative Officer; former Art Director on Valorant, League of Legends, Dota 2 and Team Fortress 2 Moby Francke, as Art Director, and former Global Revenue and Finance Lead for League of Legends franchise Areeb Pirani, as Chief Operating Officer.

--Field Level Media