What Raw Fury Games does

Raw Fury is a privately held, Stockholm-headquartered indie video game publisher founded in 2015, operating as the primary publishing brand within the Combined Effect ecosystem of independent publishers and studios. The company has built a catalog of more than 50 titles spanning strategy, RPG, adventure, roguelite, horror, simulation, and puzzle genres, distributed globally through major digital storefronts including Steam, GOG, Epic Games Store, Nintendo eShop, PlayStation Store, Xbox Store, Apple App Store, Google Play, and Meta Quest. Its portfolio includes the long-running Kingdom franchise, Blue Prince, Cassette Beasts, Sable, NORCO, Dome Keeper, Routine, and Per Aspera, among others. The company curates and finances external independent developers — many of them small studios of 1–10 people — providing publishing infrastructure, multi-platform porting and certification, marketing, and distribution. It also owns a wholly owned development subsidiary, Fury Studios (Zagreb, Croatia, ~20 employees), which co-develops the Kingdom franchise and provides shared 2D/3D asset, animation, porting, and QA services to the broader publishing portfolio.

The business model is a premium one-time-purchase model: Raw Fury finances and markets third-party developed games, takes publishing rights, and earns a share of unit sales across storefronts, with no disclosed subscription, live-service, or microtransaction monetization. Customer segments are dual — B2C end-gamers (fragmented, global, served via storefronts) and B2B indie developers (sourcing pipeline). Marketing is driven by event participation (PC Gaming Show, Future Games Showcase, Nintendo Indie World, IGN Fan Fest), social and Discord community channels, press kits, and Steam wishlist conversion tracking. Reported unit outcomes for recent releases include Blue Prince at 2.4 million units (BAFTA longlist, multiple Game Developers Choice Awards in 2026), Routine at 532,000 units, and Monsters Are Coming! at 248,000 units. The parent ecosystem, Combined Effect, reported 43% revenue growth in 2025 alongside improved profitability, and Raw Fury acquired Neon Doctrine on 2025-10-29 for an undisclosed amount, extending the publishing footprint.

Raw Fury's revenue concentration is hit-driven, with Blue Prince functioning as a marquee 2025 anchor title and the Kingdom series providing ongoing catalog revenue. Pricing is set per storefront norms; the company does not disclose contract economics, royalty splits, or net revenue. Distribution is fully outsourced to platform holders (Steam/Valve, Sony, Microsoft, Nintendo, Apple, Google, Meta), creating platform-fee exposure but also global reach without internal sales infrastructure. Since 2017, Raw Fury has raised approximately $6.275 million in disclosed funding across three rounds, including a $5.5 million round led by Nordisk Games in August 2018, and has operated profitably within the Combined Effect group as of 2025.

Name

Raw Fury Games

Legal name

Raw Fury AB

Website

http://www.rawfury.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Raw Fury is a Stockholm-based private indie video game publisher founded in 2015, publishing 50+ titles across PC, console, and mobile platforms. It serves independent game developers with publishing infrastructure and gamers seeking curated indie experiences.

Ownership category

akta.pro rank

Product category

Indie Video Game Publishing

NAICS

Software Publishers (513210), Software Publishers (51321), Software Publishers (5132)

akta.pro primary industry

Full-Service Game Publishers (1st/2nd/3rd-Party Publishing) (MPAFABAA)

Keywords

• Indie game publishing
• Multi-platform game distribution
• Video game publisher
• Digital game storefronts
• Console game releases

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Game Publishing Revenue: Raw Fury generates revenue through publishing indie games and selling them as one-time purchases across multiple digital storefronts. The company maintains a library of over 50 published titles including the Kingdom series, Blue Prince, Cassette Beasts, Norco, and Sable.

Go-to-market motion3 records

Distribution channels9 records

Marketing channels6 records

Core offering

Raw Fury is a Swedish indie game publisher that funds, markets, and distributes a portfolio of over 50 video games across PC (Steam, GOG, Epic), consoles (Nintendo Switch, PlayStation, Xbox), mobile (iOS, Android), and VR (Meta Quest 2). The company partners with independent development studios to publish their titles under multi-platform deals, charging gamers as one-time purchases through major digital storefronts. Notable published franchises include the Kingdom series, Blue Prince, Cassette Beasts, NORCO, Sable, and Dome Keeper.

Product overview

Raw Fury is an indie game publisher offering a diverse portfolio of over 50 games across multiple platforms including PC (Steam, GOG), PlayStation, Xbox, Nintendo Switch, and mobile. The portfolio includes notable titles such as the Kingdom series (Kingdom Classic, Kingdom: New Lands, Kingdom Two Crowns, Kingdom Eighties), Blue Prince, Cassette Beasts, Esoteric Ebb, Monsters Are Coming!, NORCO, Sable, and many more indie titles. The company publishes games across various genres including strategy, RPG, adventure, roguelite, horror, and simulation. Recent releases include Cassette Beasts 2002, Appulse, My Cannibal Family, Regions of Ruin: Runegate, Dome Keeper: The Lost Keepers DLC, Esoteric Ebb, and Blue Prince on Switch 2. Raw Fury is recognized as a top 10 publisher in Metacritic's annual rankings and maintains a network of publishing and development studios under parent company Combined Effect.

Differentiator

Problem solved

Functional benefit

Products and services

• Blue Prince Critically acclaimed puzzle-adventure game with intricate puzzles and genre-defying gameplay.
• Cassette Beasts 2002 Sequel to the retro collectible-monster RPG Cassette Beasts, set in fictional Nodnol with 250 beasts and over 50,000 possible combinations.
• Appulse Pinball roguelite shooter revealed at the Future Games Showcase.
• My Cannibal Family Monster horror simulation game where players manage a cannibal family.
• Regions of Ruin: Runegate Explorative RPG hack-and-slash adventure and expansion to the original Regions of Ruin.
• Esoteric Ebb Fantasy CRPG with isometric, Disco-inspired TTRPG-turned-CRPG gameplay featuring deep branching dialogue, staggering player choice, and turn-based combat in an Arcanepunk fantasy world.
• Monsters Are Coming! Roguelite survival game with city-building elements where players defend their city from monster hordes while managing resources and upgrades.
• Last Man Sitting Roguelite arena and swarm bullethell game where players shoot, hack and grind through sentient office appliances while attempting tricks on office chairs.
• KuloNiku: Bowl Up! Bowling-themed indie game.
• The Séance of Blake Manor Horror-themed adventure game.
• Rivage Indie game title in the Raw Fury portfolio.
• Deep Dish Dungeon Indie game title in the Raw Fury portfolio.
• Kathy Rain 2: Soothsayer Point-and-click adventure game sequel to Kathy Rain.
• Ballionaire Indie game title in the portfolio.
• Knights in Tight Spaces Strategy card game.
• Zet Zillions Indie game title in the portfolio.
• Star Trucker Trucking simulation game.
• Pizza Possum Indie game title in the portfolio.
• Tails Noir Preludes Narrative adventure game spin-off to Tails Noir.
• Post Trauma Horror adventure game.
• Friends vs Friends Multiplayer action game.
• Regions of Ruin Explorative RPG hack-and-slash adventure game.
• Routine First-person sci-fi horror game set on an abandoned lunar base designed around an 80s vision of the future.
• Kingdom Two Crowns Side-scrolling micro strategy game with minimalist feel and pixel art aesthetics featuring solo or cooperative play.
• Kingdom: New Lands Expands upon the award-winning Kingdom gameplay with new content while maintaining strategic simplicity.
• Kingdom: Classic Original 2D sidescrolling strategy/resource management hybrid with minimalist feel and pixel art.
• Kingdom Eighties Story-based tower defense spin-off to the Kingdom series set in the 1980s with summer camp aesthetics and synth music.
• Dome Keeper Roguelike action mining game where players defend against waves of alien monsters while digging for resources between attacks.
• Cassette Beasts Open-world RPG where players collect monsters and use a fusion system to combine any two monster forms for turn-based battles.
• Sable Coming-of-age exploration game across a strikingly rendered open world desert with unique art style and original soundtrack by Japanese Breakfast.
• NORCO Dialogue-focused point & click narrative adventure set in the sinking suburbs and industrial swamps of South Louisiana.
• Per Aspera Planetary simulation game combining hard science fiction and base building where players terraform Mars as an AI.
• Call of the Sea First-person adventure puzzle game set in 1930s South Pacific following a woman's search for her missing husband.
• American Arcadia 2.5D platformer and first-person puzzler set in a retro-futuristic 70s metropolis where citizens are unaware they're being broadcast 24/7.
• Kathy Rain Point-and-click adventure set in the 90s following a journalism major investigating her grandfather's death.
• West of Dead Cover-based twin-stick shooter set in the grim and gritty world of Purgatory with Wild West theme.
• GoNNER Score-based procedurally-generated platformer with roguelike elements and story about friendship.
• Townscaper Experimental passion project toy for building quaint island towns with curvy streets, arches, and stairways.

Quantifiable outcome

• 43% revenue growth in 2025 for parent company Combined Effect
• +2 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and minor.

• Bytten StudiocoreStrategic or Co-development Partner · 1 January 2021Bytten Studio is a tiny indie game studio based in Brighton, UK, composed of Jay and Tom. They developed Cassette Beasts and its sequel Cassette Beasts 2002, published by Raw Fury.
• DogubombcoreStrategic or Co-development Partner · 1 January 2021Dogubomb is the developer of Blue Prince, published by Raw Fury. Blue Prince won multiple Game Developers Choice Awards in 2026 and sold 2.4 million units.
• Fury StudioscoreStrategic or Co-development Partner · 1 January 2019Fury Studios is a studio founded in 2019 by Raw Fury, based in Zagreb, Croatia. With nearly 20 employees, they handle development of the Kingdom franchise and West of Dead, and supply 2D/3D asset production, animations, technical support, multi-platform porting, code optimizations and quality control for Raw Fury's titles.
• Kakehashi GamesminorStrategic or Co-development PartnerKakehashi Games is part of the Combined Effect ecosystem alongside Raw Fury and Fury Studios.
• bippinbitsminorStrategic or Co-development Partnerbippinbits is a two-person indie games developer based in Dresden, Germany. They developed Dome Keeper, published by Raw Fury.
• Out of the Blue GamesminorStrategic or Co-development PartnerOut of the Blue Games is a veteran developer studio based in Madrid, Spain. They developed American Arcadia and Call of the Sea, both published by Raw Fury.
• Lunar SoftwareminorStrategic or Co-development PartnerLunar Software is an independent games company based in the UK that consists of 4 people. They developed Routine, published by Raw Fury.
• Tlön IndustriesminorStrategic or Co-development PartnerTlön Industries is a 10+ person independent video game studio based in Buenos Aires, Argentina, founded by industry veterans. They developed Per Aspera, published by Raw Fury.
• Clifftop GamesminorStrategic or Co-development PartnerClifftop Games is a Swedish one-person indie game developer consisting of Joel Staaf Hästö. They developed Kathy Rain and Whispers of a Machine, published by Raw Fury.
• Art in HeartminorStrategic or Co-development PartnerArt in Heart is a studio founded by Ditto. They developed GoNNER and GoNNER2, published by Raw Fury. GoNNER won an IGF award.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Armor Games Studios: Armor Games Studios is a boutique indie publisher focused on high-quality, often strategy or roguelite titles, comparable in catalog size, genre mix, and indie positioning to Raw Fury.
• Annapurna Interactive: Annapurna Interactive is a premium indie publisher focused on artistically distinctive, narrative-driven games — directly overlapping Raw Fury's positioning on titles like Norco, Sable, and What Remains of Edith Finch. Both target the same indie game enthusiast customer.
• Team17: Team17 is a UK-listed indie publisher with a large multi-platform catalog of third-party-developed games, closely mirroring Raw Fury's strategy of publishing indie titles across PC and console storefronts globally.
• Devolver Digital: Devolver Digital is a leading indie game publisher with a similar portfolio-driven model across PC and consoles, frequently cited as the benchmark indie publisher alongside Raw Fury. Both companies sign, fund, and distribute third-party developed indie titles globally.
• Humble Games: Humble Games is the publishing arm of Humble Bundle and a direct competitor in the indie publishing space, signing third-party indie developers and distributing titles across PC and console platforms.
• Finji: Finji is an indie publisher and developer known for curated, design-driven titles such as Night in the Woods and Tunic — comparable to Raw Fury's selective approach and indie enthusiast positioning.
• tinyBuild Games: tinyBuild is an indie publisher and developer with a multi-studio model and a portfolio spanning multiple genres and platforms, directly comparable in scope and indie-publishing model to Raw Fury's operations.
• Fellow Traveller: Fellow Traveller is an indie publisher specializing in narrative and adventure games, comparable in catalog size and aesthetic emphasis to Raw Fury's narrative-focused titles like Kathy Rain, Tails Noir, and American Arcadia.

Broad incumbents

• Paradox Interactive: Paradox Interactive is a larger, publicly listed publisher that publishes strategy and simulation games (overlapping Kingdom, Per Aspera, Knights in Tight Spaces). Wider portfolio and self-development capacity, but overlapping indie/strategy end-market.
• 505 Games: 505 Games is a larger multi-platform publisher (owned by Digital Bros) that publishes a mix of indie and mid-tier titles — broader than Raw Fury but operating in the same third-party-publishing model and platform distribution channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/RawFury
• Facebookfacebook.com/rawfury
• Instagraminstagram.com/rawfury

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Raw Fury Games