The developer of hit free-to-download first-person shooter Splitgate just got $100m in funding.
1047 Games announced it had closed a third round of funding that brought in $100m for an eye-watering $1.5bn valuation. The developer has now seen more than $120m of investment in the three months since Splitgate's rise to the mainstream
Splitgate, a sci-fi competitive first-person shooter that's like a cross between Halo and Portal (check out Vikki Blake's Splitgate review for more), was set to launch proper in July on PC, Xbox One, Xbox Series X and S, PlayStation 4 and PlayStation 5. But 1047 Games delayed Splitgate's launch to August because the open beta was so popular.
It then announced Splitgate would remain in open beta for the foreseeable future as it works to increase server capacity.
Splitgate saw more than 10m downloads in under 30 days, and shot up to more than 175,000 concurrent players in just a few weeks. It's now at more than 13m downloads.
1047 Games said the funding means it can "build out its complete vision for Splitgate as a top-tier, AAA competitive shooter and begin to implement the studio's larger vision for establishing itself as a leading creative force of distinct and inventive IP in the gaming space".
The long-term vision is to "usher in an era of 'new' classic games", which involves genres "where innovation has currently stalled by providing transformative new takes in well-known, globally-recognised gaming genres".
Lightspeed Venture Partners is the lead investor, alongside New York-based global private equity and venture capital firm Insight Partners, Anthos Capital, and earlier seed round investors Galaxy Interactive, VGames, Human Capital, Lakestar, DraperDragon, and Draper University.