Mountaintop Studios, a San Francisco-based gaming startup, has raised $30 million in Series A funding to boost the development of its next Player Vs Player (PVP) video game.
The round was led by Andreessen Horowitz and counted with participation from Spark Capital, Founders Fund, and Detroit Venture Partners. After this round, the startup has raised a total of $35.5 million since being founded in 2020 by Oculus VR co-founder Nate Mitchell. Andreessen Horowitz’s Partner Jonathan Lai, who will be joining the startup’s board of directors, told VentureBeat:
“Nate came across as not only a proven leader and a company builder at Oculus, but he’s also a core gamer himself. We spent hours talking about our favorite competitive video games. And we also spent a lot of time discussing how to build an effective studio culture, and a faster, more agile development process, which I think is actually going to be unique.”
At this time, 35 people work for the gaming startup but Mountaintop will be using the new funding to grow its team to around 60 members, allowing it to accelerate the development of its PvP shooter game while also paying special attention to increasing diversity. The company has employees in Los Angeles, Seattle, Raleigh-Durham in North Carolina, and other continents. Mitchell referred to the startup’s focus on diversity by stating.
“We have people all over. We have a few folks in Europe, we have a person or two in Canada, and a number of folks in the Midwest. I’m like the last man standing in San Francisco. But remote has been a huge boon for us in finding the right people. It’s a very special team.”
With the gaming industry growing in relevance after surpassing the music and movies industry in the entertainment sector, the gaming startup has more resources than ever in terms of demand, technology, and funding, to successfully launch its new title.