Home / Business / Redhill Games’ first funding round secures $11.4m

Redhill Games’ first funding round secures $11.4m

Redhill Games, the free-to-play PC game studio founded by veterans of companies like Remedy Entertainment and Wargaming, has raised $11.4 million (£9m) in investment. In a round led by Makers Fund and Play Ventures, with project financing from Kowloon Nights, Redhill Games’ core focus is now “creating high-quality titles that capitalize on the team’s extensive knowledge of free-to-play, games-as-a-service experiences”.

The game developers from Remedy and Wargaming recently joined together in Helsinki to form Redhill Games. Matias Myllyrinne – former CEO of Remedy Entertainment – took up position as the new CEO after working as head of global development for Wargaming since 2015. The studio itself will be populated “with talent hand-picked from around the world from companies like Guerrilla Games, Starbreeze, Next Games and more”.

The studio states it “believes firmly” in the principles of “cooperative and social play, fair monetization models and data-driven development”. The financing will be used to complete the studio’s first game, which is not expected to be revealed until next year.

“Since forming Redhill Games in 2018, we’ve carefully built up our development and production capabilities with hand-picked expertise from around the world,” said Myllyrinne. “With this new round of funding, we’re positioned to move forward aggressively on our first big title, which we’re excited to share more about later.”

“We’re continually impressed by the pedigree powering Redhill Games. We can’t wait for the team there to show the world what they are working on,” added Michael Cheung, partner at Makers Fund, whilst Harri Manninen, founding partner at Play Ventures said: “We’re firm believers that free-to-play business models will continue to grow in popularity across traditional core gaming categories. Redhill Games’ world-class team is uniquely positioned​ to cater to this trend and audience, and we’re proud to have supported them from day one.”

“I’ve had the joy of working with so many wonderfully talented people since beginning in games in 1999. Redhill Games represents the best of the best from all my years of experience, bringing together some of the industry’s top professionals from various disciplines for a new adventure,” Myllyrinne said at the time the studio was announced. “These are people who have collaborated closely before, and I’m confident our best games are still ahead of us.”

About Vikki Blake

It took 15 years of civil service monotony for Vikki to crack and switch to writing about games. She has since become an experienced reporter and critic working with a number of specialist and mainstream outlets in both the UK and beyond.

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