Epic Games announced today that it completed a $1 billion round of funding, this round includes an additional $200M investment from Sony Group Corporation. Epic Games’ equity valuation is now $$28.7 billion, CEO Tim Sweeney remains the controlling shareholder of the company.
“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse. Their investment will help accelerate our work around building connected social experiences in Fortnite, Rocket League, and Fall Guys, while empowering game developers and creators with Unreal Engine, Epic Online Services, and the Epic Games Store,” said Tim Sweeney, CEO, and Founder, Epic Games.
“Epic continues to deliver revolutionary experiences through their array of cutting edge technologies that support creators in gaming and across the digital entertainment industry. We are excited to strengthen our collaboration to bring new entertainment experiences to people around the world. I strongly believe that this aligns with our purpose to fill the world with emotion, through the power of creativity and technology,” said Kenichiro Yoshida, Chairman, President, and CEO, Sony Group Corporation.
Epic Games and PlayStation unveiled a close relationship with the gameplay reveal of the PlayStation 5, the technical demo was built with Unreal Engine V which also was showcased the capabilities of the new engine. Following the technical demo reveal, Sony acquired a minority stake of Epic valued at $250M. According to Epic, this collaboration between both tech giants reinforces their shared mission to advance the state of the art in technology, entertainment, and socially-connected online services.
Other investment partners include Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, GIC, funds and accounts advised by T. Rowe Price Associates, Ontario Teachers’ Pension Plan Board, funds and accounts managed by BlackRock, Park West, KKR, AllianceBernstein, Altimeter, Franklin Templeton and Luxor Capital.