Epic Games, a Cary, N.C.-based interactive entertainment company, raised $1.78 billion in funding consisting of primary capital and secondary purchases from employee equity holders.
Epic’s post-money equity valuation is now $17.3 billion.
This round includes a previously announced $250 million strategic investment from Sony Corporation. Additional investment partners include Baillie Gifford, funds and accounts managed by BlackRock, Fidelity Management & Research Company LLC, Lightspeed Venture Partners, Ontario Teachers’ Pension Plan Board, funds and accounts advised by T. Rowe Price Associates, Inc., and David Tepper. Existing investors KKR and Smash Ventures also added to their 2018 investment.
Following the closing of the funding round Epic will continue to have only a single class of common stock outstanding and will remain controlled by its founder and CEO, Tim Sweeney.
Founded in 1991, Epic Games is a interactive entertainment company and provider of 3D engine technology. It operates Fortnite, one of the world’s largest games with over 350 million accounts and 2.5 billion friend connections and develops Unreal Engine, which powers the world’s leading games and is also adopted across industries such as film and television, architecture, automotive, manufacturing, and simulation. Through Unreal Engine, Epic Games Store, and Epic Online Services, the company provides an end-to-end digital ecosystem for developers and creators to build, distribute, and operate games and other content.
Epic has over 40 offices worldwide with headquarters in Cary, North Carolina.