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$10 Million Funding Secured For Hawken, Still On For December

Author:
Matt Gardner
Category:
News
Tags:
Adhesive Games, F2P, Free to play, Freemium, Hawken, Mech games, Meteor Entertainment

 Million Funding Secured For Hawken, Still On For December

The future of free-to-play is looking up. Meteor Entertainment have managed to successfully raise $10 million to help fund the development costs and release of Hawken later this year. Developed by Meteor's subsidiary, Adhesive Games, we've had our eye on the F2P mech romp for some time, and we're not the only ones.

VentureBeat reports that Meteor have managed to secure this round of funding from a number of investors, including Benchmark Capital and FirstMark Capital. The very same investors who took a plunge on what became the hit online game League of Legends from Riot Games.

"We were tremendously thankful to be associated with Riot, but we viewed the market as much bigger than a single title," said Benchmark partner Mitch Lasky. "We think that $8 billion to $10 billion will migrate away from packaged goods games and free-to-play will be a lightning rod for those dollars."

"We are seeing the rise of the direct-to-consumer model, where all is downloadable and free-to-play," added Rick Heitzmann, founder and managing director of FirstMark Capital.

"You can disrupt the business with a free-to-play title. Gamers are willing to pay via virtual goods to do that. League of Legends is a fantastic title, but it is just one game and one genre that has blown up. We think it’s possible to produce very high quality games that have huge audiences that are willing to pay."

The success of free-to-play games across PC and mobile platforms such as iOS and Android is there for all to see, with "freemium" models being incorporated more and more into games these days, the key when it comes to investment is making sure you find an "extraordinary product", as Lasky puts it.

"This is the most chaotic period in the game industry I can remember, and chaos is good for investors and startups. This year, I don’t think there will be a galvanizing event like Zynga’s initial public offering. But there will be a series of small events that will look significant in retrospect. Social and mobile games are clearly lower risks. But if you find an extraordinary game like Hawken, you can build a defensible competitive position."

Hawken is slated for a December release.

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