Radical Forge secures $3.4m in funding
Game developer Radical Forge has secured a £2.6 million ($3.4 million) investment from Mercia Ventures' Northern Powerhouse Investment Fund II fund.
The cash is going to be used to create 15 new roles at the Middlesbrough-based studio, take on more work as well as release its own project, Southfield, in early 2025. This follows a small number of layoffs earlier in the year.
Mercia has previously invested in the likes of NDreams and monetisation platform PlayerLands
"Well, we did it! We are beyond happy to say that we've secured funding to help us build Radical Forge into the company we want it to be and bring everyone along with us on the journey," Radical Forge CEO Bruce Slater said.
“In Mercia, we found a partner willing to understand not only the nuts and bolts of the company but the human heart that makes it tick. They share our ambitions to be a great development partner whilst creating original games in a culture that puts people first.
“Thanks also to our advisers Cerelo, as without their guidance, navigating the world of finance would have been a whole lot tougher."
Mercia's Chris McCourt added: “Radical Forge are a talented team with a vibrant culture that has helped them attract and retain skilled developers. We believe the current environment holds real opportunities for the business. With many of the big players in the industry downsizing their teams, they have the chance to attract top talent, expand their skills base and win larger and more complex projects. The NPIF II funding will enable them to pursue their expansion strategy and provide a further boost for Middlesbrough’s growing games industry.”
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