Epic Games Secures $1.78 Billion in Venture Financing Round

Sweeney stated, “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.”

FREMONT, CA: Epic Games, a Cary, N.C.-based interactive entertainment company, closed $1.78 billion in funding consisting of primary capital and secondary purchases from employee equity holders.

Epic’s post-money equity valuation is $17.3 billion at this moment.

This round involves a previously announced $250 million strategic investment from Sony Corporation. Other investment partners include Baillie Gifford, funds and accounts managed by BlackRock, Lightspeed Venture Partners, Fidelity Management & Research Company LLC, Ontario Teachers’ Pension Plan Board, funds and accounts advised by T. Rowe Price Associates and David Tepper. Existing investors Smash Ventures and KKR also added to their 2018 investment.

Following the closing of the funding procedure Epic would continue to have only a single class of common stock outstanding and would remain controlled by its founder and CEO, Tim Sweeney.

Established in 1991, Epic Games is an interactive entertainment company and provider of 3D engine technology. It operates Fortnite, one of the world’s largest games with more than 350 million accounts and 2.5 billion friend connections and develops Unreal Engine, which powers the world’s leading games and is also adopted across industries such as film and automotive, television, manufacturing, architecture, and simulation. Through Unreal Engine, Epic Online Services, and Epic Games Store, the company offers an end-to-end digital ecosystem for developers and creators to build, distribute as well as operate games and other content.

Epic has more than 40 offices around the world with headquarters in Cary, North Carolina.

Sweeney stated, “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.”