UK cloud-based simulation technology firm Improbable has raised $502 million in series B funding to continue the development of its SpatialOS service.
The funding round was led by SoftBank, which has taken a non-controlling stake in the company and added Deep Nishar to Improbable's board. Existing investors Andreessen Horowitz, Horizons Ventures and Temasek also contributed to the round.
The money raised will be used to continue developing the company's technologies, including its SpatialOS service. It also plans to expand its London and San Francisco offices, as well as make investments in other developers.
Reflects the potential size
"The kinds of games enabled by SpatialOS – multiplayer games allowing players to form meaningful relationships with games worlds and with each other – will be category-defining, and attract new audiences," said Herman Narula, CEO of Improbable.
"This investment reflects the potential size and importance of the market for this next generation of games and, ultimately, how massive-scale virtual worlds could become fundamental to how society works."
Improbable recently hired ex-King Chief Legal Officer Robert Miller as its own Chief Legal Officer. He had been with the Candy Crush developer for five years before the move.