Epic Games, the company behind the extremely popular battle royale game Fortnite, has announced the closure of a new funding round. A total of $1.25 billion arrived from various investors. It should create powerful partnerships for the company going forward.
Continuing to improve the gaming landscape
The recent group of funders includes KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners.
Vulcan Capital already dove into esports with the engagement platform Matcherino in 2015. Axiomatic is also not new to esports either. It’s the parent company of Team Liquid, one of the powerhouses of the scene. The company also recently announced its own funding round, which included money from NBA legend Michael Jordan.
The new monies will not only give Epic the resources for continuing its excellent work. The new members are considered to be at the forefront of technology, entertainment, professional sports, esports, and live events — industries Epic calls home.
“We’re excited to partner with the finest minds in the financial, sports, and entertainment communities,” said Epic Games Founder and CEO Tim Sweeney. “This reinforces Epic’s position of leadership in real-time 3D technology, and accelerates our ability to improve the way people play, work, and interact with the world.”
Next to Sweeney, who will continue to be the controlling owner even after the funding round, the company already has some high-profile investors. These include Disney, Endeavor, and Chinese conglomerate Tencent, a company that has been very active in the gaming industry in recent years.
“Epic Games has fundamentally changed the model for interactive entertainment under the company’s visionary leadership,” said KKR Private Equity and Technology, Media and Telecommunications Growth Director Ted Oberwager. “Alongside a special group of investors, we are thrilled to support Epic’s dedicated employees and the passionate community of players and developers that lies at the heart of everything that Epic Games does.”
Epic’s ongoing conquest of the esports industry
While Fortnite is the best known and most popular product from Epic, the company does have other ties to esports.
The Gears of War franchise is also a mainstay. Moreover, Epic is also the company behind the Unreal game engine, which has been used in a variety of game genres, including MMORPGs, first-and person shooters.
Recognizing its position in the industry, Epic has been very active in expanding its presence. From announcing its own World Cup, to committing resources for further tournament development, Epic is making sure its momentum doesn’t cease.
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