Epic Secures $1 Billion In Funding, With Sony One Of Many Investors
Epic Games is burning through a lot of money, so naturally, it needs to bring in more. The company announced yesterday that it had raised $1 billion in funding, including $200 million from Sony, "which 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."
Other companies involved in the funding include some names you might be familiar with, such as Fidelity Management & Research, Franklin Templeton, T. Rowe Price Associates -- and, oddly, the Ontario Teachers' Pension Plan Board. I know online teaching is a bigger deal now, but are they planning to conduct their classes in Fortnite? "Billy, stop headshotting Johnny and pay attention!"
Epic CEO Tim Sweeney, who remains the controlling shareholder of the company, said that the "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's ongoing legal battle with Apple was not mentioned by name, though it could fall under the auspices of "empowering game developers and creators."
The funding raised Epic's equity valuation to $28.7 billion, so burning through a few hundred million in a legal conflict is perhaps not really all that notable. Still, investments like this will help keep the ledger at least somewhat more balanced, while also making sure that Epic has even more resources to attract exclusives to its platform.
About the Author

Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.
You May Enjoy
PlanetSide 2 "Surf And Storm" Update Reveals First-Ever Naval Assault Vessel, Planned To Release This Friday to PTR
But it's coming in a work-in-progress state. Devs have scheduled playtests this weekend to evaluate its performance.
By Anthony Jones - 1 week agoTop 5 Free to Play Weekly Stories - Valorant Will Be Listening To Your Mic And Tower of Fantasy Release Ep 515
Yep...and chat will be recorded for use in player reporting.
By Michael Byrne - 6 days agoIs Lord Of The Rings Online Worth Playing in 2022? - Wilfredo Reviews
Is a journey through Middle-earth worth taking even after multiple expansions were made free?
By Michael Byrne - 3 days agoDangerous Dinosaurs Dish Out Destruction In Dungeons & Dragons Online's Isle Of Dread, Now Delivered
The Isle of Dread Expansion is now live.
By QuintLyn Bowers - 1 week agoLost Ark’s Wrath Of The Covetous Legion Update Is Now Up And Running
The time has come to take on the Vykas Legion Raid after a small maintenance time delay.
By QuintLyn Bowers - 3 days agoAmid Player Backlash, Recent Changes To Guild Wars 2 Profession Update Receives Follow-Up Post
Moving forward, ‘design notes’ will be continuously published.
By Aspen Pash - 5 days ago
Discussion (1)