Playful Studios details their unique funding efforts for New Super Lucky’s Tale

Playful Studios today announced the successful completion of its Series A private offering. The studio, which will bring the next chapter in its “Lucky” franchise, New Super Lucky’s Tale, to Nintendo Switch later this year, took a unique approach to raising this capital. Instead of leveraging banking institutions or venture capitalists, the Playful team decided to reach out to its own network of supporters around the world to spread the word about its private offering. In turn, those individuals reached out to others, and over the course of nine months, Playful met with over 300 potential individual investors.

“We believe in full transparency across our business and games,” said Mark Stanley, president and chief business officer at Playful Studios. “It’s been very important for us to connect with each investor directly to share our unique vision for this company: that the beloved intellectual property we create is our true long-term value. We have intentionally capitalized ourselves in a way that allows us to make content we believe in, and — crucially — retain ownership and stewardship of that IP for the long-term.”

To date, including a private common stock offering in 2013 and this year’s Series A preferred offering, Playful has privately raised a total of $48M. This allows the company to build and nurture franchises while planning IP strategy across a decades-long-term horizon. Playful, which now employs over 75 developers at its new McKinney, Texas, headquarters, has gained extensive experience developing content for disruptive platforms such as the Nintendo Switch, mobile and VR platforms, and next-gen console/PC hardware. Playful is currently working on its next generation of products, which it believes will help define the upcoming horizon of interactive entertainment.

“Playful’s core mission is to bring joy and connection to the world through play,” said Paul Bettner, Playful’s founder and CEO. “That is our promise to our players, and this new capital ensures that we can fulfil that promise for generations to come!”