Funding news · Sep 4, 2026
Burlingame Studios Raises $12M in Debt Financing Led by PvX Partners
Burlingame Studios Secures $12M Debt Round
Burlingame Studios, a mobile game development studio based in Burlingame, California, has raised $12 million in debt financing. The round is led by PvX Partners, which is the sole investor listed in the transaction.
The funding was recorded on September 4, 2026, and is classified as a Debt round. The capital is structured as non-dilutive, cohort-based user acquisition financing tied to revenue performance — a model that allows the studio to fund growth without giving up equity.
What Burlingame Studios Does
The studio develops mobile-first creativity and simulation games for a global audience. Its flagship title is Flourish by Garden Joy.
Burlingame Studios was co-founded by a team of veteran gamemakers: Chris McGill, Jose Avila, Barlow Gilmore, Brandon Jones and Scott Cuthbertson. The founding team previously built top design-genre titles, including Covet Fashion and Design Home, at CrowdStar, Glu Mobile and Electronic Arts.
That background places the studio squarely in the design and simulation genre, where its founders have already demonstrated the ability to ship and scale successful mobile titles.
Why the Financing Structure Matters
The use of non-dilutive, cohort-based user acquisition financing tied to revenue performance is notable for a mobile games studio. Rather than selling equity to fund marketing spend, the company is borrowing against expected revenue performance from user acquisition cohorts.
For acquisition watchers, this structure has several implications:
- No equity dilution — existing shareholders, including the founding team, retain their ownership positions.
- Revenue-linked discipline — the financing is tied to revenue performance, meaning the studio's growth metrics are central to the arrangement.
- Scalable UA engine — the capital is earmarked for user acquisition, suggesting the studio intends to scale its flagship title's player base.
The Team Behind the Studio
The founding group brings together experience from several well-known names in mobile gaming:
- CrowdStar — where the team built design-genre hits
- Glu Mobile — a major mobile publisher
- Electronic Arts — one of the largest gaming companies in the world
Titles like Covet Fashion and Design Home established the founders as operators in the fashion, design and home-decor simulation space. Burlingame Studios' flagship, Flourish by Garden Joy, extends that expertise into garden and creativity-themed gameplay.
Deal Summary
| Detail | Value |
|---|---|
| Company | Burlingame Studios |
| Headquarters | Burlingame, California |
| Round Type | Debt |
| Amount | $12,000,000 USD |
| Funding Date | September 4, 2026 |
| Lead Investor | PvX Partners |
| Investors | PvX Partners |
What to Watch
With $12 million in non-dilutive capital dedicated to user acquisition, Burlingame Studios is positioned to scale its mobile-first creativity and simulation portfolio. The key metrics to monitor will be the performance of Flourish by Garden Joy and the studio's ability to convert user acquisition spend into durable revenue cohorts — the very performance the financing is tied to.
For a studio founded by operators with a track record in top design-genre titles, the debt structure keeps the cap table clean while providing growth capital. That combination — experienced founders, a live flagship title, and revenue-linked financing — makes Burlingame Studios a name to track in the mobile simulation games market.