Gamefam Secures $25 Million in a Series A Funding Round

Gamefam, the publisher of games on Roblox, announced it has raised $25 million in a Series A funding round. The round was led by Konvoy Ventures with the participation from Play Ventures, Makers Fund, Bessemer Venture Partners, and Galaxy Interactive.

The company said that it has already used the funding to grow its team to more than 100 people, and it will also invest in further development of "metaverse platforms" like Roblox and Minecraft. The money will also go towards building partnerships and accelerating revenue.

Founded in 2019, Gamefam has over 30 titles on Roblox as a developer or publisher, including Twilight Daycare, All Star Tower Defense, and Tower of Misery. The studio also runs several Minecraft servers and creates branded activations like the 24kGoldn interactive concert that will be held this Friday in Roblox.

"Gamefam is a company started by creators to support creators," Gamefam CEO Joe Ferencz shared. "We have been able to bring together experts from AAA gaming as well as some of Roblox’s top native talent to drive successful revenue growth for our games, create opportunities for brands, and build new franchises. We are pioneering a new type of creative media business born from the metaverse."

"Gamefam is at the forefront of building and monetizing mass audiences as they continue to deliver entertaining and social experiences for millions of players. We are thrilled to lead their Series A round and be in their corner for this journey," Konvoy Ventures managing partner Josh Chapman commented.