Oculus co-founder’s studio, Mountaintop, raises $30m in series A funding

Nate Mitchell’s Mountaintop today announced that it had raised $30m in funding to continues development of its first title, which is as yet unnamed. The announcement came alongside the first glimpse of environment art from the team, above. 

Led by Oculus co-founder Mitchell, Mountaintop also includes veterans from Naughty Dog, Epic, Respawn, Double Fine, and Hidden Path. Which looks to give it a lot of potential.

The funding round was led by Andreessen Horowitz, with its Jon Lai joining the board at Mountaintop – Lai having previously worked at Riot and Tencent. Also taking a part were Spark Capital, Founders Fund, and Detroit Venture Partner.

“When we founded Mountaintop last summer, we set out with a simple mission: Bring players together through exciting and unforgettable new challenges. That mission remains our northstar. We’ll use this round of funding to grow the team, continue to develop a world-class tech stack, and bring our first title to players everywhere,” said Mitchell. 

He revealed that the team has grown to 35 people, and that it would remain small (at least for the time being). “By keeping the team small and focused on a single project, we move faster, collaborate more effectively, and empower everyone to make better decisions.”

The team is still iterating upon its core design and looks to take on community members for alpha testing early in the development process. The studio is ‘remote-first’ with Mitchell previously noting that it’s “building a studio that puts the team first — one that’s collaborative, anti-crunch, diverse, and inclusive.”

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