CM Games
CM Games is an independent Estonian game developer and publisher founded in 2010, building multi-platform games across mobile, PC, and VR. Its portfolio of 30+ titles, anchored by the Nitro Nation racing franchise (75M+ registered users) and the Into the Radius VR survival series, has reached 500 million+ players globally.
- Company typePrivate
- Founded2010
- HeadquartersTallinn, Estonia
- Headcount101–250
- GTM typeB2C
- OfferingSoftware
What CM Games does
CM Games OÜ is an independent, privately held game developer and publisher founded in 2010 and headquartered in Tallinn, Estonia, with a distributed team of over 130 professionals across 20 countries. The studio develops and publishes multi-platform games spanning mobile (iOS/Android), PC, and all major VR headsets (Meta Quest, Steam VR, Pico, PSVR2), using Unity and Unreal Engine 5 as core development technology. Its portfolio of over 30 published titles has reached more than 500 million players globally, anchored by two flagship franchises: Nitro Nation, a cross-platform drag-racing series with 75 million+ registered users and licensed car models from manufacturers such as Bugatti, McLaren, and Porsche, and Into the Radius, a VR survival shooter that achieved Steam VR Platinum status and Best VR Game 2020 recognition.
The company's product surface has expanded materially in recent years, including the July 2024 Early Access launch of Into the Radius 2 with up to four-player co-op, the August 2024 release of the original Into the Radius on PSVR2 via publisher Fast Travel Games, the October 2023 global launch of Nitro Nation World Tour (a blockchain-enhanced free-to-play mobile racing game built with Mythical Games), and the 2022 release of UnLoop, a VR puzzle adventure. Revenue is generated through three streams: free-to-play mobile games monetized via in-app purchases (virtual currency, cars, upgrades), one-time premium purchases of VR titles across multiple storefronts, and transaction-based economics in the blockchain-enabled Nitro Nation World Tour. Go-to-market is product-led, relying on organic discovery via Steam wishlists (Into the Radius 2 achieved 150,000 wishlists during early access), marketplace visibility, dev diaries, an active Discord community, and event presence at GDC, Gamescom, and Tokyo Game Show.
CM Games is led by co-founder and CEO Vladimir Funtikov, with disclosed functional heads across VR, Art, Development, Business Development, and Marketing. The company has operated without disclosed external venture funding or institutional investors, and has no disclosed revenue, parent company, or acquisition history in the available data. Strategic positioning centers on extending the Into the Radius and Nitro Nation franchises across emerging VR platforms and Web3 gaming, supported by an internal incubation program (CM Labs) launched in 2022.
CM Games firmographics
Firmographics- Name
- CM Games
- Legal name
- CM Games OÜ
- Website
- https://cm.games
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- CM Games is an independent Estonian game developer and publisher founded in 2010, building multi-platform games across mobile, PC, and VR. Its portfolio of 30+ titles, anchored by the Nitro Nation racing franchise (75M+ registered users) and the Into the Radius VR survival series, has reached 500 million+ players globally.
- Ownership category
- akta.pro rank
CM Games industry classification
Industry- Product category
- Mobile & VR Video Games
- NAICS
- Software Publishers (5132)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Sports/Racing Game Studios (MPAFAAAJ)
- akta.pro secondary industry
- Web3/Blockchain Game Studios (MPAFAAAO)
Keywords
Where CM Games is headquartered
LocationHeadquarters
- HQ city
- Tallinn
- HQ country
- Estonia
- HQ region
- Europe
Offices1 record
Markets served
CM Games business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations
Revenue model
- Free-to-Play Mobile Games with In-App Purchases: Nitro Nation and Drag Racing Classic operate on a free-to-play model with virtual currency purchases and in-game item transactions. Players can buy virtual items, upgrades, and currency for enhanced gameplay.
- Paid VR Game Sales: VR titles like Into the Radius, Into the Radius 2 (Early Access), UnLoop, and Nitro Nation VR are sold as premium purchases on Steam, Meta Quest, Pico, and PlayStation Store.
- Web3/Gaming Integration: Nitro Nation World Tour integrates blockchain-based true ownership of digital assets in partnership with Mythical Games.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free-to-play mobile games with optional in-app purchases |
| One time/ perpetual license | Pay-as-you-go | VR game purchases (Into the Radius, UnLoop, Nitro Nation VR) |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels6 records
CM Games product offering
Product offeringCore offering
CM Games is an independent game developer and publisher that designs, develops and publishes multi-platform video games spanning mobile (iOS/Android), PC and VR (Meta Quest, Pico, Steam VR, PSVR2). Its core catalog includes the Into the Radius VR survival shooter franchise, the Nitro Nation drag racing franchise, the blockchain-enabled Nitro Nation World Tour, the VR puzzle title UnLoop, and the dystopian management game Beholder, monetized through one-time purchases and free-to-play with in-app purchases.
Product overview
CM Games is a multi-platform game developer and publisher with a diverse portfolio spanning mobile, VR, and blockchain-enhanced gaming experiences. The company's core products include the Into the Radius franchise (VR survival shooters), the Nitro Nation series (drag racing games across mobile, VR, and blockchain platforms), and additional titles like UnLoop (VR puzzle adventure) and Beholder (dystopian management game). The portfolio reflects expertise across multiple genres and platforms, with Into the Radius 2 marking the company's flagship VR sequel with co-op multiplayer capabilities.
Differentiator
Problem solved
Functional benefit
Products and services
- Into the Radius 2 Immersive VR survival shooter set in surreal landscapes and deadly anomalies of the Pechorsk Security Zone. Features realistic weapons, up to 4-player co-op, and exploration of mysterious anomalous locations. Targeted at VR enthusiasts on Steam VR, Meta Quest, Pico and PSVR2.
- Into the Radius VR survival shooter inspired by the sci-fi classic Roadside Picnic and open-world survival games. One of the best-selling VR games on PC and standalone, pushing the limits of VR in scale and complexity. Targets VR enthusiasts on PC VR, Meta Quest, Pico and PSVR2.
- Nitro Nation Cross-platform drag and drift racing game featuring 3D world with customizable cars, realistic racing physics, and in-depth gameplay. Offers 150+ licensed car models from Bugatti, McLaren, Porsche, Mitsubishi, Nissan, Ford, Dodge and others. Targeted at mobile and PC racing gamers.
- Nitro Nation World Tour Free-to-play mobile drag racing game built in partnership with Mythical Games. Features true ownership of digital assets and a moving festival lifestyle experience with a community of car enthusiasts. Targeted at mobile racing gamers on iOS and Android.
- Drag Racing Classic Mobile drag racing game featuring 100+ real cars including BMW, Dodge, Honda, Nissan, McLaren, Pagani and Hennessey Venom GT. The foundational title that established CM Games in the racing genre. Targeted at mobile gamers on iOS and Android.
- Nitro Nation VR Immersive VR drag racing experience featuring real-sized driver seat, adjustable mirrors and controls, neon-lit futuristic megacity tracks, and licensed cars from famous manufacturers. Targeted at VR racing enthusiasts on Steam VR and other VR platforms.
- UnLoop Single-player VR puzzle adventure where players are trapped in a time loop aboard a space station. Players cooperate with past copies of themselves to solve puzzles and escape. Targeted at VR gamers seeking innovative puzzle and adventure experiences.
- Beholder Dystopian management game where players manage an apartment building under a totalitarian state with oppressive laws and total surveillance. Targeted at PC and mobile gamers interested in narrative/management experiences.
Quantifiable outcome
- 500 million+ players reached globally
- +3 more outcomes
Companies that use CM Games
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
CM Games technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature5 records
CM Games partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Fast Travel GamescorePublisher partnership for bringing Into the Radius to PlayStation VR2. Fast Travel Games handles publishing on PSVR2 platform.
- Mythical GamescorePartnership for Nitro Nation World Tour - a blockchain-enhanced free-to-play racing game built in partnership with Mythical Games, featuring true ownership of digital assets.
- Playing 4 The Planet AllianceminorCM Games is a founding member of the UN-supported Playing 4 The Planet Alliance since 2019, working on environmental sustainability in gaming.
- National Library of EstoniaminorCo-sponsored Global Game Jam 2025 held at the National Library of Estonia with 120+ participants.
- Tallinn Business IncubatorminorCo-sponsored Global Game Jam 2025 alongside other local sponsors and partners.
- PlanetPlayminorPartnership for climate consciousness in gaming, promoting environmental awareness through special game integrations for Earth Day 2023.
- EAS and Startup EstoniaminorPartnership with Estonian Development Foundation and Startup Estonia for Spinner youth program supporting digital technology education.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
CM Games competitors and assessment
Company assessmentDirect peers
- Resolution Games: VR-first studio publishing titles like Demeo, Angry Birds VR, and Cook-Out across Meta Quest, Steam VR, and PSVR2. Highly comparable as a multi-title VR developer pursuing premium and casual VR segments similar to CM Games' ITR + UnLoop portfolio.
- Survios: VR-focused studio behind Creed: Rise to Glory and Sprint Vector. Comparable as a multi-platform VR developer (Meta Quest, Steam VR, PSVR) producing premium VR experiences in similar genres (action/sports) to CM Games' ITR franchise.
- Beat Games: Developer of Beat Saber, one of the highest-selling VR games of all time. Directly comparable as a VR-native studio that built a flagship title on Meta Quest, Steam VR, and PSVR2 with a similar premium, content-led model to Into the Radius.
- Hutch Games: Mobile racing developer behind Top Drives, F1 Clash, and Rebel Racing. Directly comparable as a mid-sized independent mobile racing studio with licensed car content and similar free-to-play live-ops model to Nitro Nation.
- Polyarc: Independent developer of Moss and Moss: Book II, flagship VR action-adventure titles on PSVR, PSVR2, Meta Quest, and Steam VR. Comparable as a small-to-mid-sized VR-native studio building critically acclaimed premium VR IPs.
- Natural Motion (Zynga subsidiary): Developer of CSR Racing and CSR Racing 2, dominant mobile drag racing titles with licensed cars and deep progression. The most direct competitor to CM Games' Nitro Nation franchise in mobile racing genre, mechanics, and monetization.
Broad incumbents
- Ready at Dawn: VR/console developer (Lone Echo, Echo VR, Marvel's Iron Man VR) acquired by Meta. Comparable as a premium VR developer pursuing similar immersive, narrative-driven VR experiences to the Into the Radius franchise.
- Gameloft: Major mobile and console game publisher behind Asphalt 9 and Asphalt 8. Comparable as a broad incumbent in the mobile racing category with significantly larger scale and marketing budget than CM Games' Nitro Nation franchise.
Emerging players
- Electric Square: Mid-sized multi-platform game developer (part of Keywords Studios) working on racing and VR titles. Comparable as a similarly-sized independent studio with multi-platform delivery capabilities and racing/VR genre exposure.
- Mythical Games: Blockchain gaming platform and publisher (NFL Rivals, Blankos Block Party) and CM Games' strategic partner on Nitro Nation World Tour. Comparable as an emerging Web3 gaming player and adjacent to CM Games through the NNWT co-development arrangement.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
CM Games social profiles
Digital presenceCM Games compliance and trust
Trust signalCompliance1 record
CM Games financial estimates
Financial estimateRevenue estimate
Valuation estimate
CM Games leadership team
Management profileNumber of profiles
Profiles10 records
CM Games funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CM Games M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CM Games
What does CM Games do?
CM Games is an independent game developer and publisher that designs, develops and publishes multi-platform video games spanning mobile (iOS/Android), PC and VR (Meta Quest, Pico, Steam VR, PSVR2). Its core catalog includes the Into the Radius VR survival shooter franchise, the Nitro Nation drag racing franchise, the blockchain-enabled Nitro Nation World Tour, the VR puzzle title UnLoop, and the dystopian management game Beholder, monetized through one-time purchases and free-to-play with in-app purchases.
Is CM Games a public or private company?
CM Games is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was CM Games founded?
CM Games was founded in 2010. It employs 101 to 250 people.
Where is CM Games based?
CM Games is headquartered in Tallinn, Estonia, in the Europe region.
How does CM Games make money?
Three revenue lines are on record. Free-to-Play Mobile Games with In-App Purchases are the primary driver. The others are paid VR Game Sales and web3/Gaming Integration.
Who are CM Games's main competitors?
Direct peers on record are Resolution Games, Survios, Beat Games, Hutch Games, Polyarc and Natural Motion (Zynga subsidiary). Broad incumbents are Ready at Dawn and Gameloft. Emerging players are Electric Square and Mythical Games.
Does CM Games have an API?
No public API is recorded for CM Games.
What industry is CM Games in?
CM Games's product category is Mobile & VR Video Games. Its primary akta.pro industry code is MPAFAAAJ, Sports/Racing Game Studios, with a secondary code of MPAFAAAO, Web3/Blockchain Game Studios. Its NAICS code is 5132 and its SIC code is 7370.