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Ex-Bungie chief’s ProbablyMonsters raises $18.8 million for two triple-A game studios

  • Posted byby Dean Takahashi
  • Updated
  • 6 min

Former Bungie CEO Harold Ryan doesn’t do anything small. And so it’s no surprise that he is running one of the most ambitious video game startups in a long time. Today, Ryan’s ProbablyMonsters is announcing it has raised $18.8 million for the company’s two triple-A game studios.

Ryan has been running the Issaquah, Washington-based ProbablyMonsters in stealth since 2016, and today the company is revealing Cauldron Studios and Firewalk Studios. The combined teams have more than 70 employees.

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Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.