Manticore Games Raises $100 Million to Accelerate Growth

By McKenzie Carpenter Thursday, April 8, 2021

The gaming industry is worth hundreds of billions of dollars as it is an extremely popular form of entertainment and social networking. Last week, Manticore Games, a video game development startup company, announced the gaming business raised $100 million.

A gaming keyboard and headphones.

About the Gaming Business

Manticore Games is a video game development startup company that owns and operates Core, a digital playground of video games designed by a community of creators offering an endless universe of games to play. The gaming business allows people to connect and play socially or individually, and lets designers create their own games.

Founded in 2016 by Jordan Maynard and Frederic Descamps, the San Mateo, California-based startup company offers a variety of video games like party games, shooting games, role-playing games (RPGs), or simply exploring different universes. The gaming business is completely free for users and creators. In addition, the founders of the startup company have quite a bit of experience in the video gaming industry from working for businesses in the past like EA and Zynga.

Manticore Games is backed by many investors, including Benchmark, Epic Games, Correlation Ventures, RocNation, Sapphire Sport, and several others. Before the funding announcement Wednesday, the gaming business raised $15 million in September 2020.

$100 Million in Financing

Last week, the startup company announced it raised $100 million in a Series C financing round led by XN with participation from SoftBank Vision Fund 2, LVP, and previous investors.

The press release details that the gaming business is preparing for Core to be available for Early Access exclusively on the Epic Games Store on April 15, with more than one million player and creator accounts globally. Additionally, 20,000 free games and about 500,000 projects have started using the platform created by Manticore.

Frederic Descamps, CEO and co-founder of the gaming business, said in the press release, “...Core puts the power in Creators’ hands to build an endless arcade of free games for players and they’ve delivered. We are thrilled to have more resources to invest in our Creators, who we see as the engine of our growth, to ultimately build the games Multiverse and the best playground for players. Our Early Access launch on Epic Games Store next month is just the beginning.”

The startup company has a strong belief that user-generated content (UGC) is the future of the gaming industry. As a result, Manticore Games will use the new capital to accelerate Core’s growth by investing in its creator programs and tools.

Ravi Paidipaty, a partner at XN, said, “We are pleased to support founders Frederic Descamps and Jordan Maynard and their best-in-class team at this inflection point in the growth of Manticore’s organization and developer and player communities.”

Manticore Games is competing against other UGC platforms like Roblox, which recently went public on the New York Stock Exchange, Rec Room, and Dapper Labs. Forbes reported on a study published by Juniper Research indicating the video gaming industry could exceed $200 billion in value by 2023.

About the Author

Headshot of McKenzie Carpenter

McKenzie Carpenter is a graduate of Central Michigan University with a B.A.A. in Integrative Public Relations and French. McKenzie has previously worked for small businesses and nonprofit organizations.

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