News

Fortnite developer Epic Games raises $1.25 billion in funding from over half a dozen investors

Date Type Companies involved Size
October 26th, 2018 investment Epic Games $1,250m
Fortnite developer Epic Games raises $1.25 billion in funding from over half a dozen investors

Fortnite developer Epic Games has gained $1.25 billion in funding from seven new investors.

The funding parties include KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins and Lightspeed Venture Partners.

These companies hold interests in a wide range of fields including technology, entertainment, professional sports, esports, and live events.

New investors join big names like Tencent, Disney and Endeavour as minority stake owners in Epic Games, which remains under Epic CEO Tim Sweeney’s control.

It's not completely clear immediately what Epic will use the funds for, though it will likely go toward development of Unreal Engine. There also remains the option for M&A activity if the company is looking to rapidly expand.

Pretty Epic

“We’re excited to partner with the finest minds in the financial, sports, and entertainment communities,” said Sweeney.

“This reinforces Epic’s position of leadership in real-time 3D technology, and accelerates our ability to improve the way people play, work, and interact with the world.”

Epic isn’t exactly short on cash these days, with Fortnite continuing to bring in big numbers. While the open beta for the Android build only launched this month, it has already reportedly taken in over $60 million in revenue.

The company also recently acquired security and services firm Kamu, integrating its anti-cheat technology deeper within the battle royale phenomenon.


Staff Writer

Natalie Clayton is an Edinburgh-based freelance writer and game developer. Besides PCGamesInsider and Pocketgamer.biz, she's written across the games media landscape and was named in the 2018 GamesIndustry.biz 100 Rising Star list.

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