City State Entertainment lands $7.5m from Mythic investors
Mythic founder Mark Jacobs' studio pledges to accelerate the release of crowdfunded MMO Camelot Unchained
City State Entertainment has raised $7.5 million through an investment from the original backers of Mythic Entertainment, the first studio started by City State co-founder Mark Jacobs.
The investor group includes the New York City private equity firm GF Capital Management & Advisors, and it is the same group that invested in Mythic Entertainment. Mythic had grown to 175 employees when EA acquired it in 2006, five years after the launch of its MMO Dark Age of Camelot.
Mythic was founded by Mark Jacobs, who is also the co-founder and CEO of City State Entertainment. Pitched as a casual game studio when it started in 2011, City State successfully raised $2.2 million on Kickstarter two years later, for an MMORPG project called Camelot Unchained.
"Knowing that we have support from the same core investors who helped enable Mythic Entertainment to create Dark Age of Camelot is incredibly exciting," said Jacobs in a statement.
"I couldn't be happier with what this investment means for Camelot Unchained, our company, and most importantly our crowdfunding Backers. We can immediately accelerate hiring in our Virginia and Seattle Washington studios as well as our delivery of Camelot Unchained, as a way of thanking our Backers for their continued loyal support."
Jacobs co-founder for City State is Andrew Meggs, the company's CTO, who previously worked as lead engineer on EA Mythic's Warhammer Online and senior engineer on Bethesda's Elder Scrolls V: Skyrim.