Series Entertainment, a game development platform focused on generative AI, has successfully raised $28 million in an oversubscribed Series A funding round. The investment was led by Netflix and Dell Technologies Capital, with participation from previous investors Andreessen Horowitz, BITKRAFT, and F4 Fund. This funding comes just a year after the company launched with a $7.9 million seed round led by a16z.
Under the leadership of Pany Haritatos, Series has already made significant strides, including the acquisition of mobile game studio Pixelberry, known for its interactive game Choices: Stories You Play.
Series, also referred to as Series AI, aims to empower game developers by creating video games using large language models (LLMs) and generative AI technologies. The company has developed the Rho Engine, marketed as the first AI-native, multimodal full-stack game creation platform that integrates visuals and audio to streamline game development processes.
While skepticism exists around the broader applications of LLMs, the gaming industry is seeing transformative potential. With Rho, developers can automate character design and enhance interactivity, allowing for more complex non-player characters (NPCs) and extensive customization options for players.
Despite competition from other AI gaming engines like Modl.ai and Unity’s Muse Chat, Series positions Rho as a comprehensive solution for game development, handling everything from design to bug detection.
Haritatos brings a wealth of experience to the table, having previously founded and sold successful gaming studios. His leadership and vision have attracted high-profile investors, including BITKRAFT, known for its focus on eSports, and F4 Fund, run by seasoned game developers.
Series has expanded rapidly, growing from 17 to over 100 employees since the beginning of 2024, with talent sourced from major gaming companies like Zynga and Google. Haritatos expressed gratitude for the support from investors, acknowledging the challenging funding landscape.
According to Pitchbook estimates, the Series A funding represents about 15% of the company, leading to a post-money valuation of approximately $190 million, though Series has not confirmed this figure.
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