Investors are taking a second bet on a group of Epic Games veterans, funneling more than $7 million into Cary-based Lightforge Games.
It’s the second equity raise for the firm, which closed on $5 million back in 2020, and more could be coming. The round is capped at more than $15 million, meaning there’s $8 million to go.
Lightforge describes itself on its website as a “new, all-remote video game studio on a quest to change how the world plays role-playing games." It’s building what its developers call a new cross-platform, social video game, one “where players have the power to create worlds and tell stories with unprecedented freedom.”
The company is the brainchild of CEO Matthew Schembari who, until 2020, was director of user interface at “Fortnite” developer Epic Games, also based in Cary, leading the user-interface team “responsible for Front End systems such as the Battle Pass, Challenges, Store, Social and Lobby,” according to his LinkedIn page.
Prior to that, he served eight years at Blizzard Entertainment, acting as lead software engineer, UI, and working on games such as “Heroes of the Storm” and “StarCraft 2.”
Schembari did not return calls requesting comment on the fundraise. But he’s not alone in building it from the ground up.
Lightforge's executives include Nathan Fairbanks, a former senior producer at Epic Games; Daniel Hertzka, former lead programmer at Epic Games; Marcus Hutcheson, former marketing director at Epic Games; and Glenn Rane, former principle artist and art director at Blizzard Entertainment.
Sam Englebardt is listed as director for Lightforge. Englebardt is a co-founder at Galaxy Digital and managing partner of its interactive division. The firm invests in video game studios and backed Lightforge in its last round.
Lightforge incorporated in March of 2020 under the name Double 20 Games Inc. The firm changed its name to Lightforge later that year, state records show.
The latest raise is a mixture of equity and options, according to a securities filing. It comes from 17 investors.
Past backers have included NetEase Games, Dreamhaven, Maveron and 1UP Ventures.
