Real Time Worlds confirms $50M raise
Real Time Worlds confirmed today that it has raised $50 million in venture capital to fund its online gaming ventures. The Dundee, Scotland video game studio will use the second round of funding to develop games such as All Points Bulletin, a massively multiplayer online game.
The round was led by Maverick Capital and existing investors New Enterprise Associates and WPP also participated. Real Time Worlds is run by founder David Jones, the creator of the original Grand Theft Auto game that has become one of the biggest video game franchises of all time.
The company has more than 200 game developers on staff and it produced the hit Xbox 360 console game “Crackdown,” its debut title, in 2007. The game sold more than 1.4 million units, which means it generated roughly $84 million at retail.
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About the Author, Dean Takahashi
Dean is lead writer for GamesBeat at VentureBeat. He covers video games, security, chips and a variety of other subjects. Dean previously worked at the San Jose Mercury News, the Wall Street Journal, the Red Herring, the Los Angeles Times, the Orange County Register and the Dallas Times Herald. He is the author of two books, Opening the Xbox and the Xbox 360 Uncloaked. Follow him on Twitter at @deantak, and follow VentureBeat on Twitter at @venturebeat.