Virtual Reality Game Studio Survios Raises $50 Million

Palo Alto – December 15, 2016 – Cooley advised Survios on its two recent funding rounds, which together totaled $50 million raised.

Hollywood studio MGM led one of the rounds, with MGM CEO Gary Barber taking a seat on the company’s board of directors. The other was led by Cooley client Lux Capital. Additional participation included Cooley clients Shasta Ventures, Danhua Capital and Felicis Ventures, as well as Shanda Holdings and Dentsu Ventures.

Nathan Burba, co-founder and CEO of Survios, said in a statement that the partnership with MGM will help Survios achieve its “goal of becoming the leading publisher and content creator in virtual reality.”

Survios’s “Raw Data” has been one of the fastest grossing VR titles to date, earning more than $1 million in revenue in the month of its launch on the Steam store for the HTC Vive.

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