Trophy maker, which had been looking for a title for the latest installment in the series, has secured $100 million in funding from venture capital firm Sequoia Capital, according to a news release.
The fund, known as the Sequoias, is focused on developing titles for consoles and mobile platforms.
It will invest in the company through two years of work, Sequoius chief executive John Yarbrough said in the release.
“With Sequoiya’s support and the support of its investors, we will continue to invest in a portfolio of high-quality, well-crafted and highly-recognized games that create the best of gaming for our customers,” Yarbough said.
The Sequoian-backed company has not yet announced a title, but the next installment in its beloved franchise will be announced next year.
The next installment is due out sometime in 2021.
The first installment, The Last of Us, was released in August of 2015.
It was a critical hit, grossing $1.1 billion worldwide.
The game set the bar for a lot of games at the time.
It also broke the mold of previous installments in the franchise.
The first two games, The Order: 1886 and The Last Story, had to be re-edited for the new generation of consoles.
The game earned $1 billion in the U.S. in its first year.