In March 2022, Gamefam announced they have raised $25 million in its Series A funding round, which was led by Konvoy Ventures and participated in by Play Ventures, Makers Fund, Bessemer Venture Partners and Galaxy Interactive.
In November 2021, Gamefam announced in an interview with Forbes that they partnered with WildBrain to start integrating various brands into their portfolio of Roblox titles.
In October 2021, Gamefam partnered with WowWee to create toys for their popular Roblox game Twilight Daycare. In November 2020, Gamefam, with the partnership of Mattel, released Hot Wheels Open World on Roblox, which is a Hot Wheels-themed open world racing game. What that means is that each game needs to have a very distinctive and attractive immersion to it, in a way that mobile free-to-play doesn’t." The company is described by Ferencz as the "first and only fully-dedicated, professional game publishing company on Roblox" and has recruited veteran Roblox developers. Explaining his reason for founding Gamefam, Ferencz told TechCrunch, " Roblox truly is the Metaverse for this younger generation. Ferencz was originally involved with bringing Hot Wheels into the Forza series and Rocket League, and while doing so, he was observing Roblox's success as a free-to-play video game platform. Gamefam was founded in 2019 in Los Angeles, California, United States by Joe Ferencz, the current CEO. Gamefam has been accused of mistreatment of its employees. It has produced content for brands such as Sonic the Hedgehog ( Sonic Speed Simulator), the National Football League, Hot Wheels, Doctor Strange, Kung Fu Panda, Samsung, and Puma and staged virtual concerts for musicians such as The Chainsmokers and Saweetie. It primarily utilizes Roblox as a video game development platform it also utilizes Fortnite Creative and Minecraft. Gamefam Studios is an American video game company.
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