Games developer PlayCanvas boosted by £300,000 seed round
DC Thomson Ventures funding coincides with game engine’s 20,000th registered developer
PlayCanvas, a cloud-hosted games development platform, has announced that it has secured £300,000 seed funding in a deal led by DC Thomson Ventures, the venture capital arm of media group DC Thomson.
Founded in 2011, London-based PlayCanvas claims to be the “world’s leading” WebGL game engine and tools provider and is aimed at disrupting the way video games are built, shared and played.
Its online platform is used by developers, artists and designers to create 3D games and content and has, as of today, 20,0000 registered developers signed up to the site.
DC Thomson’s investment follows seven months spent working out of IDEALondon; the start-up incubator founded by the venture capital firm alongside Cisco and University College of London.
PlayCanvas co-founder and CEO, Will Eastcott, said: “Having invited us into IDEALondon, a state-of-the-art innovation centre, DC Thomson Ventures has been with us every step of the way.
“In the past six months, we’ve grown our team from four to 10, launched our payment plans and quadrupled our user base. Through all of this, DC Thomson’s support and advice has been absolutely invaluable.”
DC Thomson Ventures principal, Nick Verkroost, discussed the investment:
“Will and Dave are two highly accomplished founders bringing a wealth of experience from their time in the games industry. They have a clear vision of what the developer community needs as the industry fragments into smaller nimbler teams, and we’re delighted to be joining them on the journey.”