Funcom's Future Is Secured Thanks To A New Investment

Funcom announced today that it has received a $6.3 million private placement investment and brought the amount of debt it is in down by around $7.7 million via "a debt conversion process that has no cash impact on the company." The end result is that Funcom's equity has jumped from -$10 million to over +$4 million and Funcom's future endeavors are essentially secured.

Funcom CEO Rui Casais had the following to say about the announcement.

This investment is a major turning point for the company. Funcom has been making great games for more than twenty-three years, but it is no secret that the company has had a strained financial situation in recent years that made it challenging to fully realize our new strategy and get back on the right track. This investment allows us to finally do that.

Funcom will be using the chance given by the investment to "execute its new strategy, secure development on new titles, and continue to support its portfolio of live online games." An alleged Funcom employee stated the following in response to a Reddit thread about the announcement: "We've a bright future ahead of us." It seems that things truly are turning around for Funcom.