US-based Manticore Games, a company that develops user-generated games in the multiverse, raised US$ 100 million in a Series C funding round on 31st March 2021.
Investors: The funding round was led by XN. Other participants included strategic and institutional investors such as SoftBank Vision Fund 2, London Venture Partners (LVP) and existing investors – Benchmark, Bitkraft’s new Opportunity Fund, Correlation Ventures and Epic Games.
Purpose of the funding: The funds will be used to accelerate Core’s growth by improving its creator programs and develop the most advanced game creation and publishing tools.
About Manticore Games
Founded in 2016 by Frederic Descamps and Jordan Maynard, Manticore Games develops Core, a platform and community to build, share and play online games. Core makes it easier for players to create their own games. Core games use Epic’s Unreal Engine which has graphics with both greater variety and higher quality. Players get a chance to create their own world through Core. They can connect their games through portals and traverse to other portals as well. They can also keep their avatars and use them in any other game world. The company is headquartered in San Mateo, California.
Manticore shares 50% of the revenue generated by games with the creators to help Core creators make a living making games. But it is still difficult for the company to share more with users because of expenses like marketing, customer service and community management. Thus, it finds other ways to help creators. For example – Manticore held a game creation contest and gave US$ 150,000 in prizes to the top 50 creators.
Core is offering more than 20,000 free games and has around half a million projects on its platform. It claims to have over one million player and creator accounts globally.
What the founders have to say: “UGC (user-generated content), gaming, online virtual events and communities, the creator economy all have strong fundamentals. We knew at some point we would have to raise more money because what we’re doing is extremely ambitious. The surface area of what we’re building is vast. The demand side, the supply side, the engine, the servers, the tech, the community. This is lots of work.” — Frederic Descamps, Co-founder of Manticore Games.
Recently, successful game companies have been able to raise huge amounts due to the increasing demand. Last week, Rec Room had raised US$ 100 million at a $1.25 billion valuation and Dapper had raised US$ 305 million.
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