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Phoenix Labs

Develops cooperative, free-to-play action RPGs

Overview

Phoenix Labs is a Canadian game developer known for creating cooperative, multiplayer AAA titles. Its flagship game Dauntless is a free-to-play, co-op action RPG where players become Slayers who hunt giant Behemoths, gather resources, and craft better weapons and armor to face tougher monsters. The game supports solo or four-player play and was one of the first to launch with cross-play and cross-progression across PC and major consoles, with monetization through cosmetic items and a seasonal Hunt Pass. The studio also released Fae Farm, a farming life-simulation game. The company differentiates itself with a team of veterans from major studios like Riot Games, BioWare, Capcom, and Blizzard, and by focusing on cooperative multiplayer experiences built to survive as live-service games. Its goal is to create enduring, shared gaming experiences that bring players together across platforms, while iterating on content through ongoing live-service development.

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About Phoenix Labs

Simplify's Rating
Why Phoenix Labs is rated
F
Rated D- on Competitive Edge
Rated F on Growth Potential
Rated D- on Differentiation

Industries

Consumer SoftwareEntertainmentGaming

Company Size

11-50

Company Stage

Acquired

Total Funding

$150M

Headquarters

Vancouver, Canada

Founded

2014

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Simplify's take

What believers are saying

  • September 2025, Gambit Digital bought Fae Farm IP, preserving some residual franchise value.
  • Dauntless proved Phoenix Labs could launch a recognizable cross-platform hit.
  • Phoenix Labs' veteran founders still command industry credibility for future studio efforts.

What critics are saying

  • January 2025 layoffs cut the majority of Phoenix Labs, effectively ending internal development.
  • Dauntless servers shut May 29, 2025, erasing its recurring revenue and community.
  • Forte's 2023 secrecy, 2024 project cancellations, and 2025 asset sales signal existential collapse.

What makes Phoenix Labs unique

  • Phoenix Labs built Dauntless with early cross-play and cross-progression across consoles and PC.
  • The studio attracted Riot, BioWare, Capcom, and Blizzard veterans under Jesse Houston.
  • Fae Farm showed Phoenix Labs could ship cozy simulation beyond monster-hunting live service.

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Funding

Total Funding

$150M

Above

Industry Average

Funded Over

1 Rounds

Acquisition funding comparison data is currently unavailable. We're working to provide this information soon!
Acquisition Funding Comparison Coming Soon

Growth & Insights and Company News

6 month growth

-67%

1 year growth

-67%

2 year growth

-67%
GamesIndustry.biz
Feb 3rd, 2023
Phoenix Labs regains independence after management buyout

Canadian developer Phoenix Labs will go back to being independent following an investor-backed management buyout. Accor…

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