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Moon Beast Productions Secures $4.5M in Funding

Co-creators of Diablo I & II are taking a fresh look at ARPGs

California, USA - December 18th, 2024 — Moon Beast Productions, an independent game studio founded by industry veterans Phil Shenk, Peter Hu, and Erich Schaefer, has secured $4.5 million in seed funding. Led by 1AM Gaming, the round is joined by 1UP Ventures, The Mini Fund, Overwolf, Versus Ventures, and a network of notable angel investors that includes Gaingels, Cohh Carnage, and Mark Pincus.

This funding marks a critical moment for the studio, providing resources to expand the team while maintaining the lean, focused approach that has defined Moon Beast since its inception. The investment will accelerate the studio's development of an innovative Action Role-Playing Game (ARPG) that challenges conventional design paradigms.

"In today's challenging funding environment, we're incredibly fortunate to have investors who understand our vision," said Peter Hu, President and Co-Founder. "Our approach has always been about working smarter, not just harder. We're building reusable, data-driven systems that allow us to iterate rapidly and create more with less."

The studio is acutely aware of the challenges facing independent game developers. While big-budget AAA titles dominate the market, players are increasingly hungry for fresh, innovative experiences that break away from formulaic design. Moon Beast sees this as an opportunity to offer something genuinely different.

"We've never been content to follow the crowd," explained Phil Shenk, CEO and Co-Founder. "Throughout our careers, we've always pushed to redefine genres. We were there at the start, helping to invent ARPGs with Diablo and Diablo II. In the years following, from Hellgate: London to Torchlight, and Marvel Heroes Online, we've consistently sought to expand what players expect from the genre."

The upcoming project is a testament to this philosophy. Looking back to the pivotal moment after Diablo II, the team is exploring an alternate trajectory for action RPGs—one that was impossible with the technology of over two decades ago. Their new game aims to reimagine what the genre could have become if ARPG designs had taken a different path.

Leveraging advanced procedural generation and dynamic world technologies, Moon Beast is creating a game world that offers truly unique experiences with each playthrough. The goal is an expansive, open-ended design that provides players with unprecedented freedom and replayability.

"For the past 20 years, we’ve dreamed of ARPG gameplay in more open, dynamic worlds," explains Chief Creative Officer and Co-Founder Erich Schaefer. "We finally have the technological capabilities and decades of design experience to bring those visions to life. We're going back to what made those early Diablo games feel so awesome but taking them in some cool, fresh directions."
 
A key innovation is the studio's commitment to user-generated content (UGC). "Our world technology is inherently dynamic, which makes it incredibly easy for players to create and integrate their own content," Hu explains. "We're building in-game tools that allow players to not just mod, but potentially create entirely new game modes using our robust, client-server ARPG systems."
 

Avner Florenthal, VP of Business Development at Overwolf, noted, "We are thrilled by Moon Beast's vision for player creativity. Their approach to UGC has the potential to extend the game's life and even spark entirely new gameplay experiences."

Shenk elaborates, "Think about how MOBAs emerged from Warcraft III mods. Our UGC tools could similarly unlock entirely new genres built on ARPG gameplay and systems."

Lead Investor Gregory Milken from 1AM Gaming shared his perspective: "What sets Moon Beast apart is their thoughtful approach. They're not chasing trends but expertly crafting a unique experience that could genuinely expand the ARPG genre and shake up the current formula. We are big believers in the team and great fans of their genre-defining past works."

The studio plans to reveal more details about their new project early in  2025.

"I think fans of our original Diablo games will find a lot to love," Schaefer says, "but I'm also super excited about the new ways we're shaking it up. It's exciting to be able to take a fresh approach to the genre."

For more information on Moon Beast Productions:
Visit their site: www.moonbeast.com
Follow Moon Beast Productions on Twitter: https://twitter.com/MoonbeastInc
Like Moon Beast Productions on Facebook: https://www.facebook.com/MoonBeastProductions
Connect with Moon Beast Productions on LinkedIn:
https://www.linkedin.com/company/moon-beast-productions


About Moon Beast Productions
Moon Beast Productions is an independent games developer founded by industry veterans Phil Shenk, Peter Hu, and Erich Schaefer. They are distributed with offices in San Francisco, CA. Founded in 2021, Moon Beast Productions focuses on innovation in ARPG games.