Red 5 Secures $23 Million in Funding, Launching Firefall in 2014
The long march to launch for Firefall may finally be nearing its end. Developer Red 5 recently announced that it has secured an additional $23 million in Series B funding from Shanghai Oriental Pearl Culture Development Co., Ltd., in conjunction with its existing investor The9 Limited.
ÂThis additional round of funding will offer us the means to execute on our plan for successfully launching Firefall in 2014.Â said James Macauley, acting CEO, Red 5 Studios. ÂThis is the year Firefall takes flight. The entire Red 5 tribe is focused on creating top quality content that will take Firefall to the next level and we are excited for this next stage of development.Â
Firefall has had its ups and downs of late with many beta changes, including the removal of PvP, something that the team plans to reintroduce later this year with new open world PvP zones. The recent departure of former CEO and co-founder Mark Kern was also something of a shrouded mystery. But with James Machauley now at the helm as acting CEO, the Red 5 team seems to have recovered and are now back on track. If all goes as planned, Firefall should finally launch later this year.
Source: Firefall Announcement