Game Company N3TWORK Secures $40M in Funding
ByNovember 21, 2019
Tech and gaming company N3TWORK has secured $40 million in Series C funding to aid in development of first-party games, its live games publishing platform and its media and audience network. The investment is led by Griffin Gaming Partners (a new venture firm co-founded by former Lionsgate exec Peter Levin), Galaxy Digital Capital, KPCB Holdings, Korea Investment Partners, TABLE, Blue Planet Software and Ocean Road.
The investment in N3TWORK is the first by Griffin Gaming Partners since its formation in September. Levin will also join the company’s board of directors.
“We’ve always imagined our company as a full-stack games company that doesn’t just create but also provides tech and services to other people who create games,” N3TWORK CEO Neil Young tells The Hollywood Reporter. Young previously founded and ran mobile game publisher ngmoco from 2008-2016. Prior to that venture, he served as an exec at EA.
“N3TWORK has a clear vision to build the next great games company, leveraging the power of a modern media company model,” says Levin. “N3TWORK has all the ingredients of a company of destiny: a great team, a great structure to build a growing and virtuous cycle around games and communities, and an advanced platform that underpins its ability to serve live games and their audiences.”
N3TWORK currently offers mobile game Legendary: Game of Heroes and will release Tetris Royale, a battle royale take on the popular puzzle game, in the near future. The company also has a number of other titles currently in development. The company also hosts a partnership program for developers called Scale Platform and will launch a “community app” next year named The N3twork.
“We have learned a lot about building media and community networks for Legendary,” says Young. “We have this product that was doing really well and our audience had this insatiable appetite to connect with other people who played the game, but they were spread across disparate places on the internet. That interest and excitement manifests in the business and the retention of those players, so we endeavored to bring all of those things together in one place.”
The team created N3TWORK as a social hub for its games, with different channels for various titles (currently only Legendary‘s is live) which the company populates with “five to seven new stories every day,” from video content to written articles to podcast, all produced in-house.
Currently, N3TWORK has just over 100 employees spread across three locations. The company is headquartered in San Francisco with additional offices in Los Angeles and Santiago, Chile.