Epic Secures $1 Billion In Funding, With Sony One Of Many Investors

Jason Winter
Jason Winter April 14, 2021

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.

Share:
Got a news tip? Contact us directly here!

About the Author

Jason Winter
Jason Winter, News Editor
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.

Discussion (1)

rickshaw 5 months ago
Epics a cool pipeline that returns favor to its consumer. others in the game just keep blowing there upwards not giving back anything..


You May Enjoy

Epic Appeals Result Of Court Case Versus Apple

Epic Appeals Result Of Court Case Versus Apple

Tim Sweeney says judge's ruling "isn't a win for developers or consumers."

By Jason Winter - 3 days ago
Splitgate Developer Raises $100 Million In Funding, Will Remain Independent

Splitgate Developer Raises $100 Million In Funding, Will Remain Independent

"Everything is now on the table."

By Jason Winter - 2 days ago
Valheim Drops Hearth & Home Update

Valheim Drops Hearth & Home Update

The update adds new mechanics, materials, optimizations, and more.

By QuintLyn Bowers - 12 hours ago
Smite Takes To The Cloud And Joins The Amazon Luna Lineup

Smite Takes To The Cloud And Joins The Amazon Luna Lineup

Now you can play the MOBA on pretty much any device.

By QuintLyn Bowers - 1 week ago
Court Rules That Former Destiny Composer Illegally Distributed And Sold Music

Court Rules That Former Destiny Composer Illegally Distributed And Sold Music

Penalties would be in excess of $100,000.

By Jason Winter - 13 hours ago
Top 5 Free to Play Weekly Stories - Vampire: The Masquerade Bloodhunt Enters Early Access Ep 479

Top 5 Free to Play Weekly Stories - Vampire: The Masquerade Bloodhunt Enters Early Access Ep 479

Check out the top 5 biggest stories of the week in the F2P realm (and some that aren't F2P!...

By Michael Byrne - 1 week ago
See More
Live Giveaways