Epic Games secures $1.78 billion in new funding round

Date Type Companies involved Size
August 6th, 2020 investment Epic Games $1,178m
Epic Games secures $1.78 billion in new funding round

Epic Games has secured $1.78 billion in a recent funding round at a company value of $17.3 billion.

Investment has come from Baillie Gifford, Fidelity Management & Research Company LLC, Lightspeed Venture Partners, Ontario Teachers' Pension Plan Board, and David Tepper. It is worth noting that the funding figure includes the $250 million that Sony pledged last month.

Previous backers KKR and Smash Ventures also topped up their investments from 2018.

Epic support

"Having the support of leaders in the financial community accelerates Epic's efforts to build a new kind of digital ecosystem using real-time 3D technology, services that connect hundreds of millions of people, and a digital storefront that offers a fair business model. We are delighted to have them as part of the Epic family," said Epic founder and CEO Tim Sweeney.

With this funding, the Fortnite creator has a single class of common stock outstanding, which will continue to be controlled by Sweeney. In June, the company was seeking a backing of $750 million, with a valuation of $17 billion.

Staff Writer

A freelance writer based in Berkshire. Besides PG and PCGI she has written as a guides writer, specialising in RPG's and horror.


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