CCP Games has raised $20 million in new funding to help promote its ambitious online shooter, DUST 514.
According to Techcrunch, who spoke to the company's CFO Joe Gallo, the money was raised through convertible bonds from institutional investors in its native country, Iceland.
DUST, a free-to-play FPS for PlayStation 3, is scheduled for release this year, and CCP understands the need to remain competitive against the other major FPS releases - Halo 4 and Call of Duty, among many others.
However, CMO David Reid doesn't believe that DUST should go, "head-to-head with EA and Activision," and the game's persistent online nature allows CCP to take a more measured approach to promotion.
Reid also suggested that, if successful, DUST would allow the company to, "do some of the things you need to do for IPO preparedness."