Beamable, the developer behind Game of Thrones Ascent and Star Trek Timelines, filed for bankruptcy on October 1st.
That’s according to the Worcester Business Journal, who report that the developer, formerly known as Disruptor Beam, had $3.4 million in liabilities and $637,987 in property assets, according to court documents.
The only creditor was a secured claim is a venture capital fund that is owed $1 million. The other unsecured claims include Silicon Valley Bank, who is owed nearly $900,000, on top of a rough total of $920,000 owed to 10 other firms.
Founded as Disruptor Beam in 2010, the studio focused on games based on established TV show IPs, such as the social network and mobile game Game of Thrones Ascent, and mobile title Star Trek Timelines.
Things looked bright for the company initially, making the Inc. 5000 list of the fastest-growing private companies in the country in 2017 and 2018. Back in 2017, the company was able to secure $8.5m in Series B venture capital financing.
In more recent years however, the company laid off nine of its staff as it pivoted to focus on its Disruptor Engine. This was followed by its rebrand to Beamable in April, to reflect the company’s change in focus.