Epic Games has closed a $1 billion investment round. The company's value exceeded $28 billion

Epic Games has attracted additional investments in the amount of $ 1 billion. This, among other things, made it possible to strengthen cooperation with Sony, which this time invested an additional $ 200 million in the company. Epic Games’ total valuation was $28.7 billion.Epic Games announced the closing of the investment round today on its official website.

In addition to Sony, investors also included Appaloosa, Baillie Gifford, Fidelity Management & Research Company and others.

Tim Sweeney, CEO and founder of Epic Games, noted that the funds raised will go to the development of the so-called “metaverse”. The company will continue to implement social features in Fortnite, Rocket League and Fall Guys, as well as strengthen the connection between its projects. In addition, Epic Games will spend money on the development of the Unreal Engine, online services and the Epic Games Store.

A new round of investments was announced in early April. Prior to that, Epic Games managed to raise a total of $3.4 billion, including $1.78 billion in August last year. At the same time, the company’s cooperation with Sony began, which has so far invested $450 million in Epics.