Framingham video game technology company Beamable, formerly known as Disruptor Beam, has filed for bankruptcy.
The Chapter 11 filing was entered on Oct. 1 in U.S. Bankruptcy Court. The company reported $3.4 million in liabilities and $637,987 in property assets, according to court documents.
Among the company’s largest creditors are a capital venture fund that is owed $1 million, the only such creditor with secured claims. The others are unsecured, including Silicon Valley Bank, which processed the company’s Paycheck Protection Program payments and is owed nearly $900,000 and a total of 10 equipment finance firms owed a total of roughly $920,000.
Most of Beamable’s assets are in checking and money market accounts with either Silicon Valley Bank or First Republic Bank.
Beamable has made video games based on the TV shows Game of Thrones, Walking Dead and Star Trek, and until a few years ago was a fast-growing firm that looked to have a bright future. The company moved into larger offices in Framingham in 2017, and made the Inc. 5000 list of the fastest-growing private companies in the country in 2017 and 2018.
Beamable had a three-year revenue growth of 709% through 2016, and a tripling of revenue through 2017, according to the Inc. 5000 lists.
