# Phoenix Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/phoenix-labs

- Industry: Software
- Headquarters: Vancouver, Canada
- Website: www.phxlabs.ca
- Latest round: Series C (Oct 22, 2018)
- Investors on record: 7

## About

Phoenix Labs Inc. is a game development company focused on creating interactive gaming experiences, notably recognized for its cooperative action role-playing game, Dauntless™, which allows players to engage in collaborative monster hunting adventures.Phoenix Labs Inc. was founded in 2014 in Vancouver, Canada. The company specializes in developing interactive games, with a notable focus on community-driven gameplay. The founders, Robin Mayne and Sean Bender, have previously engaged in game development prior to establishing Phoenix Labs. The company has undertaken four notable deals, with its most recent deal occurring on January 28, 2020, when Sea Limited acquired Phoenix Labs. Financial terms of the acquisition were not disclosed.Phoenix Labs specializes in the development and publishing of interactive games, with its flagship product being Dauntless™, a cooperative action role-playing game that allows players to team up to hunt massive creatures known as Behemoths. Released in early access in 2018, Dauntless™ aims to provide players with immersive gameplay experiences that foster collaboration and community engagement. The game operates on a free-to-play model, enabling a wide range of players to access its content across various platforms, including PC, PlayStation, and Xbox. Phoenix Labs is committed to enhancing player engagement by regularly updating the game with new content and features, supporting its global player base, which spans North America, Europe, and Asia. Additionally, the company is expanding its portfolio with new titles and experiences, including the upcoming release of Faefarm, a farming and adventure game that seeks to blend social interaction with immersive storytelling.Phoenix Labs generates revenue primarily through in-game purchases and microtransactions associated with Dauntless™, where players can acquire cosmetic items, seasonal passes, and other enhancements that enrich their gaming experience. The company adopts a direct-to-consumer model, facilitating transactions through its online platform, where players can make purchases directly within the game interface. Revenue streams include seasonal events and limited-time offers that incentivize purchases. Pricing structures reflect a variety of options catering to different player preferences, such as cosmetic packs or bundles that enhance gameplay. As the company continues to develop and expand its offerings, it strategically positions itself to capitalize on player engagement and community involvement, which are central to its business model.Phoenix Labs plans to leverage its recent acquisition by Sea Limited to enhance its product offerings and expand into new markets. The upcoming release of Faefarm is anticipated to diversify its gaming portfolio. The company aims to expand its reach within North America, Europe, and Asia by further engaging its player community and enhancing game content. The funding from the acquisition will be utilized to support these initiatives, allowing Phoenix Labs to continue growing its player base and enriching its gaming experiences.

## Funding rounds

- Series C, Oct 22, 2018 — Sapphire Ventures, Everblue Management
- Series B, Feb 14, 2018 — Granite Asia, Sapphire Ventures, Ridge Ventures, Signia Ventures, MTGx Ventures, Next Frontier Capital

## Investors

- Granite Asia (https://capitalatlas.ai/funds/granite-asia) — Series B
- Sapphire Ventures (https://capitalatlas.ai/funds/sapphire-ventures) — Series B, Series C
- Ridge Ventures (https://capitalatlas.ai/funds/ridge-ventures) — Series B
- Signia Ventures (https://capitalatlas.ai/funds/signia-ventures) — Series B
- MTGx Ventures (https://capitalatlas.ai/funds/mtgx-ventures) — Series B
- Next Frontier Capital (https://capitalatlas.ai/funds/next-frontier-capital) — Series B
- Everblue Management — Series C