Survios has raised $16.7 million to continue building gripping virtual reality games such as the just-launched The Walking Dead: Onslaught.
This is the company’s fourth funding round and is particularly important as the VR industry approaches a new hardware cycle. Facebook is launching the Oculus Quest 2 wireless VR headset on October 13. And the Oculus Link cable will enable you to play PC-based games — like those Survios makes — on the Quest 2.
Facebook is still pumping a lot of money into the VR ecosystem, despite sales falling short of the hyped projections of 2016, when the first generation of VR systems launched. During this time, Oculus and HTC launched multiple rounds of hardware, far exceeding the level of innovation in the console or PC games business. But the bulk of the hardcore gaming revenues stayed on the console and PC side. For the sake of VR stalwarts like Survios, it’s good to see investors are still willing to put money in VR game companies as they grow up into something bigger.
“This is really a ‘Survios grows up’ round,” said CEO Seth Gerson in an interview with GamesBeat. “We have new capital, and we’re adding new talent. The exciting thing is to create some really amazing cross-play experiences using everything we have learned so far in VR.”
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The company has added new executives, including Mike Medrano as vice president of marketing (he worked in Blizzard’s marketing department); TQ Jefferson, the new chief product officer who specializes in taking franchise content and turning it into games; and new studio art director Tate Mosesian, who used to work at Naughty Dog.
The round was led by Irongrey, the investment arm of industrial