Rift dev raises $85 million

Trion Worlds, California-based developer of fantasy MMOG Rift, has raised $85 million (£55 million) from investors.

In a press release, the developer says it will use the funds - contributed by the Ontario Teachers' Pension Plan and existing stakeholder BDMI - to fund development of its next two projects and its Red Door platform.

Investors were drawn by the success of Rift - which drew a million registered users within four months of its launch, and brought in $100 million in revenue from North America and Europe alone during 2011 - and Red Door. Trion describes its work-in-progress initiative as an "end-to-end" solution, serving consumers, developers and publishers using the same technology that powers its games.

Founder and CEO Lars Buttler said: "We are thrilled about entering this exciting period of growth and scale with our investors. Rift's success with gamers worldwide is the tip of the iceberg for Trion.

"No other company has successfully attempted to create an original IP, build paradigm-altering technology, and develop a business of scale to lead the industry, let alone all three.

"We have a world-class team focused on our vision to bring the era of connected live services to premium games, much in the way casual and mid-core games have already been disrupted."

This latest round of investment means Trion Worlds has raised $185 million in capital since 2007. Last October, Buttler told Reuters a stock market IPO was "clearly on our horizon … we definitely have enough substance and enough skill to be a public company at the right time."

Trion's next game is End Of Nations, an MMORTS co-developed with Petroglyph Games, and is scheduled for launch in the first few months of the year.

Also in development is Defiance, an ambitious collaboration with the SyFy TV channel. Both game and TV show will be set in the same universe, with "merging storylines and the ability to mutually impact events and consequences across the mediums."