Beamable secures $5 million in funding

To be used to grow its live game service for Unity

Beamable secures $5 million in funding

Service platform Beamable has secured $5 million in a funding round.

Companyon Ventures and GrandBanks Capital led the investment. Other investors included and Oyster Funds, among others.

"What impressed us about Beamable is the vision for enabling any designer to create amazing games without the burden of building and rebuilding the backend infrastructure for those games," said Companyon Ventures general partner Firas Raouf.

"And the decision to invest was made that much easier after we spoke to the studios that are currently using Beamable to power their game revenue while lowering their live-game operating costs by up to 75%."

Fueling growth

Beamable will use its newfound finance to fuel the growth of its live game service for Unity game developers.

Since last year, more than 100 companies have signed up to use Beamable, and over 20 million users have accessed titles built using the platform.

"Game studios want to focus on what they love most: building great games," said Beamable CEO Jon Radoff.

"We saw them struggling with workflow: brittle processes, continuously reinventing the wheel, or coping with complex backend-as-a-service products.

"Studios come to us because they need a platform built around Unity that makes it easy to deliver new content and features, drives social engagement and delights paying players."

In October 2020, Beamable filed for bankruptcy, though shortly after, it confirmed it would not be shutting down as a result.

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