The former CEO of Halo maker Bungie Harold Ryan has revealed his new venture ProbablyMonsters.

This is a new company whose aim is to build new triple-A studios. The venture was set up in 2016 and has been working behind the scenes helping two new developers - Cauldron Studios and Firewalk - launch.

The company has $18.8m from a Series-A funding round.

“As we enter a new generation of gaming, the industry needs a better model for building triple-A studios where game developers can reliably turn their creative vision and effort into exceptional experiences that delight players,” Ryan said.

“Our mission at ProbablyMonsters is to unite, guide, and empower talented game developers in a stable and predictable business environment that respects people, culture, and creativity.”

Speaking to Gamasutra, Ryan said that part of his aim is to create sustainable games companies that offer stability to employees.

"[I'd like them to] understand what to expect when they come to work and what kind of environment they were going to be in,” he said.

"I think more so than ever, game development is a career for people and it should be a place [where] everyone deserves the right to belong to a place where they're safe; where they can reliably show up for work and be a part of the team, and know what's going to happen."