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Camelot Unchained developer City State picked up another $15M+ in investment funding

Money makes the world go round, and it certainly is the coal that fuels the game development engine. City State Entertainment, the dev studio behind the long-awaited and Kickstarted MMORPG Camelot Unchained, has had some of that fresh fuel shoveled into its fire thanks to a successful investor funding round that drew in more than $15 million – the largest single funding round the company has received to date.

According to the press release, this new money will be used to continue to develop the proprietary engine that powers CU and hire some new faces in the dev and leadership teams. Studio co-founder Mark Jacobs offered his thanks to new investors, existing investors, and long-term backers of the project, and further heralded the new money would “accelerate [City State’s] business activities.”

Of course, this news likely comes as cold comfort to those who are reportedly still waiting on refunds from CSE (or salty about the company’s second game, Final Stand Ragnarok, to say nothing of Kickstarter backers still waiting on Camelot Unchained after nine and a half years). We reached out to CSE’s Mark Jacobs this morning regarding the impact of the investment on the direction and leadership of the company, the engine’s licensing potential, outstanding refunds, the state of Final Stand Ragnarok, and the ETA for Camelot Unchained’s launch or next phase. We’ll update if and when we hear back.

MMORPG veterans will know that Camelot Unchained, which was originally Kickstarted in 2013, has taken flak over the years thanks to delays, the founding of a second studio, the announcement of a second game using CU’s custom-built engine, and delayed refunds. The game entered its “beta one” phase back in 2018, with tests capable of putting 3000 humans and bots on the battlefield simultaneously. In 2021, City State said it was still paying refunds and working on both games, though it balked at interviews with press. As of 2022, work on CU continues, but some players still say their 2020 refunds haven’t processed, and Final Stand Ragnarok is unpopulated.


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