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Image via Ironwood Studios
Pacific Drive developer Ironwood Studios has closed a $4 million seed funding round led by Lifelike Capital. The cash will be used to finance the Seattle-based studio’s next project.
“As a team we are very thankful for the opportunity to keep making games and at the same time so incredibly excited for what the future of Ironwood holds,” said studio CEO and creative director, Cassandra Dracott, in a press release.
“This funding round points us towards the best version of that future and we’re thrilled to work alongside Lifelike Capital to make it a reality.”
Pacific Drive has sold over 1.5 million copies worldwide. It has also attracted over 3 million players thanks to its inclusion on subscription services like PlayStation Plus and Xbox Game Pass.
The eldritch survival title is also being adapted for television by Atomic Monster, the production company founded by horror veteran James Wan.
Lifelike Capital co-founder and general partner Randy Lee said the venture capital firm was convinced to invest in the “exceptional talent” at Ironwood after taking Pacific Drive for a spin.
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“Their ability to build an immersive world and innovative game play, combined with a proven track record of shipping and launching a game, makes them a natural partner for Lifelike. We’re really excited for what they build next,” added Lee.
Lifelike has previously invested in notable video game companies such as Roblox, Unity, Red Rover Interactive, Dead Astronauts, and Wolf Haus Games.
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Senior Editor, News, GameDeveloper.com
Game Developer news editor Chris Kerr is an award-winning reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton.
