1047 Games For Its First Game Splitgate’s Success Has Raised New Funding $100 Million

After receiving 13 million downloads for the Portal-like Splitgate, 1047 Games revealed that it has raised $100 million at a $1.5 billion valuation. That’s a remarkable turn of events for the game studio based in Zephyr Cove, Nevada, which released a free-to-play game’s beta in 2019.

Through the use of portals they create in Splitgate, players can move quickly from one portal to another in the same sci-fi setting. This strategy stands out in the crowded free-to-play shooter industry began Proulxcause it offers players a tonne of tactical choices to outsmart opponents in a multiplayer game.

Splitgate is in beta on consoles. Additionally, 1047 Games is repairing a few issues in the online shooting game during the pre-launch time. At the moment, that mostly entails making sure the game’s servers can accommodate the volume of players.

The fundraising follows $10 million in July led by Human Capital and $6.5 million in May raised by 1047 Games. The Caldor fire in the Lake Tahoe region forced CEO Ian Proulx to abandon his home during the most recent funding round. The funding round’s fundraising became more difficult as a result as per 1047 games 100M series of of of of lightspeedcoldeweytechcrunch.

The game entered an open beta test this summer on the PC, PlayStation, and Xbox platforms, and within two months it had received 13 million downloads as per coldeweytechcrunch. However, the business delayed the official launch until its servers could support more players.

The Human Capital round was where things really started to pick up. As more people became aware of the headlines, later-stage VCs began paying close attention to us, according to Proulx. They first promised to speak with them later. But suddenly he realized there was a special opportunity. Everyone wanted to connect because everything was exploding.

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Honoring Portal

The game pays homage to both Valve’s 2007 original Portal and its 2011 sequel, Portal 2. Subsequently, Valve has since abandoned the brand, 1047 Games has the opportunity to create a free-to-play multiplayer spiritual successor. In a way, it’s unexpected that Portal could inspire an entire genre of games like Splitgate, but 1047 Games deserves praise for seizing the chance.

Proulx, a computer science major at Stanford University who has been playing video games since he was 7 years old, began developing the free-to-play online arena shooter in 2017. The game, which was his senior project, gained a following after a number of significant revisions.

After viewing Valve’s Portal video games, Proulx claimed that the inspiration for this project came to him about ten years ago. “He was instantly smitten by the idea of these two gates that players went through. Portal and Portal 2 are fantastic. Considering that he grew up playing FPS games, he believed at the time that this would be incredibly intriguing in other genres as well.

In order to test his Stanford research, Proulx got his buddies to play with it. Everyone was pressed for time because it was finals week. They consented to his plea to let them play for 45 minutes, but they ended up playing for five hours. they decided to do this since “they had folks wanting to chat now,” according to Proulx.

Newest Round Of Funding

Amy Wu, a partner at Lightspeed Venture Partners, wrote to GamesBeat in an email stating that the firm is looking for entrepreneurs with “bold visions for innovation and the passion to build the next generation platform.”With Ian and Nick, they discovered that. We’re eager to see what they will accomplish with more firepower because they have accomplished so much with little resources. As they grow their business, we’re honored to be able to help.

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