Lost Lake Studio raises $5M in funding for game development team

Lost Lake Studios, a crossplatform game development studio, announced today that it has closed a round of funding and raised $5 million. Bitkraft Ventures led the round with participation from Lightspeed Venture Partners, Moon Holdings, and 1Up Ventures.

James Phinney, lead designer of StarCraft, co-founded Lost Lake alongside Joe Pikop, formerly of Rockstar and ArenaNet, and Mark Pottorf, engineer and programmer on H1Z1 and Quantum Conundrum. The studio is committed to making “bold and imaginative” games.

Scott Rupp, founding general partner at Bitkraft, praised the co-founders in a statement, “It’s extremely rare to find a co-founder trio spanning design, engineering, and art who played key roles in iconic game franchises. This is an incredible opportunity to back a game studio with a bold imaginative vision, a strong collaborative and empowering culture, and excellent iterative execution capabilities.”

Phinney added in a statement, “Lost Lake is not tied to a single platform or genre but rather to a core belief that empowering talented individuals and fostering a culture of collaboration leads to incredible games. We are thrilled to be working with BITKRAFT Ventures and the whole team of investors who are helping bring our vision to life.”

The company plans to use the investment to expand its team and studio.