Business

Developer of Fortnite, Epic Games reaches a $17 billion valuation with new round

The company announced it has raised a $1.78 billion funding round

Fortnite was a hit game developed by Epic Games. Image: Screenshot
  • Epic Games, developer of Fortnite, announced it has raised a $1.78 billion round;
  • The value also includes a previously announced $250 million investment from Sony Corporation;
  • With the funding round, Epic Games reaches a new valuation of more than $17 billion.

Epic Games, the game development studio behind the popular Fortnite, announced on Thursday that it has raised $1.78 billion in its latest funding round. The investment takes Epic’s valuation to $17.3 billion, says the company.

“Having the support of leaders in the financial community accelerates Epic’s efforts to build a new kind of digital ecosystem using real-time 3D technology, services that connect hundreds of millions of people, and a digital storefront that offers a fair business model. We are delighted to have them as part of the Epic family,” said the Epic’s founder Tim Sweeney in a statement.

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This funding round also includes a previously announced $250 million investment from Sony Corporation.