Epic announced yesterday that it has completed a $1 billion round of funding to “support future growth opportunities.” The developer’s equity valuation stands at a whopping $28.7 billion.
Singling out Sony’s investment, Epic said that the move “builds on the already close relationship between the two companies and reinforces their shared mission to advance the state of the art in technology, entertainment, and socially-connected online services.”
“We are grateful to our new and existing investors who support our vision for Epic and the Metaverse,” CEO Tim Sweeney said in a press release. “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.”
“Epic continues to deliver revolutionary experiences through their array of cutting edge technologies that support creators in gaming and across the digital entertainment industry,” added Sony Corporation chairman and president, Kenichiro Yoshida. “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.”
Other than Sony, Epic received funding from Appaloosa, Baillie Gifford, Fidelity Management & Research Company LLC, AllianceBernstein, Altimeter, Franklin Templeton, Luxor Capital, and a number of other companies.