Report: Epic Games is valued at $17 billion in new funding round

Firm raising $750 million

Report: Epic Games is valued at $17 billion in new funding round

Fortnite firm Epic Games has reportedly been valued at $17 billion in a new round of funding.

That's according to Bloomberg, which reports that the studio is trying to raise $750 million in this investment lap, with companies T Rowe, KKR and Baillie Gifford apparently interested in putting their cash behind the games giant.

Big valuation

This follows a report in April of this year that Epic was valued at over $15 billion in its effort to raise between $500 million and $1 billion. In 2019, the company was worth $15 billion when CEO Tim Sweeney (pictured) made his debut in the Bloomberg Billionaire Index.

KKR took part in a 2018 funding round that saw a number of companies buying $1.25 billion in the Fortnite maker.

Since its debut in 2017, Fortnite has attracted more than 350 million players and become one of the most influential games on the market.

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PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.