Theorycraft Games

Theorycraft Games

Independent studio creating deep multiplayer games

Overview

Theorycraft Games is an independent game studio focused on creating deep, engaging multiplayer titles. Its main project, codenamed Project Loki, combines elements from different genres into a single game described by players as a mix of League, Apex, and Smash. Loki aims to deliver a trio of experiences in one package: a group adventure, a competitive sandbox, and a highlights factory, all built around multiplayer rounds where players team up, compete, and showcase moments. The company differentiates itself by prioritizing social play that fulfills core human needs—belonging, creative expression, and mastery—and by blending multiple genres into one cohesive experience rather than sticking to a single genre. Its goal is to provide a game that is more enjoyable with friends and to build a sustainable business by selling games, with potential additional revenue from in-game purchases, subscriptions, or advertising in the broader market.

About Theorycraft Games

Simplify's Rating
Why Theorycraft Games is rated
C-
Rated C on Competitive Edge
Rated C on Growth Potential
Rated D+ on Differentiation

Industries

Consumer Software

Entertainment

Gaming

Company Size

11-50

Company Stage

Series B

Total Funding

$87.5M

Headquarters

Santa Monica, California

Founded

2020

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Simplify's Take

What believers are saying

  • Theorycraft’s website says it is currently working on its next game.
  • The studio still maintains careers openings as of August 25, 2026.
  • Former Riot-led teams retain hiring appeal for engineers building multiplayer systems.

What critics are saying

  • SUPERVIVE shut down February 25, 2026, signaling weak retention and monetization.
  • Steam retired SUPERVIVE by September 2026, erasing the studio’s only live revenue engine.
  • If Theorycraft’s next game misses traction, the studio becomes a one-hit shutdown case.

What makes Theorycraft Games unique

  • Theorycraft combines Riot, Bungie, Blizzard, and Valve veterans on one remote team.
  • Its games target social multiplayer loops, not disposable single-session content.
  • SUPERVIVE validated Theorycraft’s ability to ship a complex hybrid PvP game.

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Funding

Total Funding

$87.5M

Above

Industry Average

Funded Over

2 Rounds

Notable Investors:
Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
Linktree
$50M
Theorycraft Games
$65M
Substack
$100M
ClickUp

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Unlimited Paid Time Off

Company Equity

Performance Bonus

Profit Sharing

Flexible Work Hours

Growth & Insights and Company News

Headcount

6 month growth

↓ -5%

1 year growth

↑ 0%

2 year growth

↑ 2%
Allkeyshop
Jun 30th, 2025
Supervive: Theorycraft Announces Official 1.0 Release Date for MOBA

Theorycraft has announced that Supervive 1.0 will release on July 24, 2025.

GamesBeat
Jun 19th, 2025
Riot veterans raise $37.5 million for Theorycraft Games startup

A crew of game veterans from Riot Games and other studios have raised $37.5 million to launch their Theorycraft Games game studio.

Summit Media
Sep 10th, 2024
MOBA plus Battle Royale, here's why SUPERVIVE is worth the try

THEORYCRAFT GAMES announced that SUPERVIVE, their free-to-play MOBA battle royale meets hero shooter, will debut a feature-rich demo at Steam Next Fest: October 2024 Edition.

Bleeding Cool
Jun 29th, 2024
Theorycraft Games Launches Supervive Week-Long Playtest

Theorycraft Games have launched a special playtest for their new game Supervive, as you can play an early version of the title.

Esports Insider
Jun 25th, 2024
Theorycraft Games reveals Project Loki official name SUPERVIVE

In June 2023, Theorycraft Games officially announced Project Loki and put the project into alpha testing in April of this year.

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