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Splitgate studio raises $100m in funding round

1047 Games gets a $1.5 billion valuation as it looks to ramp up development and expand team

Splitgate developer 1047 Games announced today that it raised $100 million in its third round of funding in the last three months.

The investment gives the studio a $1.5 billion valuation, and will help the studio is it is "aggressively ramping up" development and expanding its team.

The funding round was led by Lightspeed Venture Partners with additional investments from Insight Partners and Anthos Capital. Joining them were previous seed investors Galaxy Interactive, VGames, Human Capital, Lakestar, DraperDragon, and Draper University.

"Building on our core success with Splitgate is our main focus in the immediate future;we are rapidly scaling across all areas of our studio," said 1047 Games CEO and co-founder Ian Proulx.

"The funding secured from our partners, combined with the belief and support of our vision, enables us to focus on both our short-term growth needs, and more importantly, our long-term vision for 1047 Games as a premier driver of completely fresh gaming experiences for fans."

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