Fortnite developer Epic Games announced today that it has received $ 1.25 billion in funding from a number of venture capital firms. Not only that, but with the new round of financing, WSJ reports that Epic Games, based in Cary, North Carolina, is now valued at a massive $ 15 billion.
Epic's new round of financing came from seven different companies: KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners.
Epic: "This investment creates strong partnerships with highly strategic investment firms and individuals at the forefront of technology, entertainment, professional sports, e-sports and live events."
The seven new companies join Tencent, Disney and Endeavor who have all previously invested in Epic Games at various funding levels. Tencent paid $ 330 million for a 48% majority stake in Epic Games in 201
"We" We look forward to working with the best minds in the finance, sports and entertainment industries. This strengthens Epic's leadership in real-time 3D technology and accelerates our ability to enhance the way people play, work and interact with the world, "Sweeney said in a statement.
It's not immediately clear where the 1.25 billion new funding will go to Epic, but sources said WSJ "not all the money goes straight to the company. Part of this amount represents shares are sold by existing stakeholders who pay off part of their investments. "
Epic has always been a big name in the video game industry, creating the Gears of War franchise and working on every major entry until Epic sold the series to Microsoft after Gears of War 3. Epic's profile has recently dropped The other major part of Epic's business is the Unreal Engine, the ubiquitous game engine that licenses it to developers around the world.