Epic Games has completed its latest funding round. The company hauled in $1 billion, including a $200 million investment from Sony. Epic is now valued at $28.7 billion.
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. The company’s founder and CEO, Tim Sweeny, remains the controlling shareholder.
According to Epic, the funding will help support future growth. The company has grown rapidly in recent years with the success of Fortnite and the creation of Epic Games Store.
“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,” Sweeney said.