1047 Games Valuation, Funding & Investors
1047 Games is valued at $1.5B as of September 2021.
Last 1047 Games valuation
$1.5B
Series A · Sep 2021
Last 1047 Games funding round
$100M
Series A · Sep 2021
Cumulative funding 1047 Games raised
$117M
across 3 funding rounds
Key investors in 1047 Games
Lakestar
Human Capital
Galaxy Interactive
vgames
Lightspeed Venture Partners
Insight Partners
About 1047 Games
1047 Games is a Zephyr Cove-based remote video game development studio behind Splitgate, a free-to-play multiplayer arena shooter combining fast-paced combat with portal mechanics. Founded in 2016, the team operates distributed across the United States, releasing updates, seasonal events, and cross-platform play on PC, PlayStation, Xbox, and Steam.
Founded
2016
HQ
United StatesWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$1.5B (Sep 2021)
1047 Games Valuation
1047 Games is currently valued at $1.5B, based on its Series A in September 2021.
The $100M round was led by Lightspeed Venture Partners, with participation from Velo Partners, Galaxy Interactive, vgames, Human Capital, Draper University Ventures and 4 other investors.
1047 Games valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2021 | Series A | $1.5B |
1047 Games Funding History
1047 Games has raised a total of $117M across 3 funding rounds.
1047 Games' first fundraising round was a $7M seed round in May 2021. The most recent completed round was a $100M Series A in September 2021.
1047 Games funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Series A | Lightspeed Venture Partners (lead); Velo Partners; Galaxy Interactive; vgames; Human Capital; Draper University Ventures; Lakestar; Insight Partners; Union Tech Ventures; Draper Dragon | $100M | $1.5B | 1047 Games, a Zephyr Cove, Nevada-based independent game studio, develops Splitgate, a free-to-play multiplayer first-person shooter featuring portal mechanics similar to Portal, initially launched in beta on PC in 2019 and expanded to consoles in July 2021, achieving 13 million downloads in two months. The studio, founded by CEO Ian Proulx during his university computer science studies, built a cult following before scaling with funding. On September 14, 2021, 1047 Games raised $100 million in a Series B round led by Lightspeed Venture Partners, with participation from Insight Partners, Anthos Capital, Galaxy Interactive, VGames, Human Capital, Lakestar, Draper Dragon, and Draper University Ventures, at a post-money valuation of $1.5 billion. This followed prior rounds of $20 million in July 2021 led by Human Capital and $6.5 million in May, bringing total funding to $126.5 million across three rounds. The funding enables 1047 Games to expand its team from under 10 to around 40 employees, enhance Splitgate's servers to handle surging player demand, fix issues during its console beta phase, and pursue long-term ambitions like building the next Riot Games. CEO Proulx emphasized operating with an indie mindset while leveraging the capital for ambitious scope, viewing Splitgate as only 25% complete and focusing on hybrid monetization models rather than rushing to match Fortnite-scale success immediately. Investors highlighted the team's bold vision and traction with minimal prior resources. The round reflects explosive interest post-Splitgate's viral success amid a competitive gaming landscape for arena shooters, positioning 1047 Games for sustained development without the post-hype cash crunch many titles face. |
| Jul 2021 | Series A | Human Capital (lead) | $10M | - | 1047 Games, the developer of the free-to-play multiplayer shooter Splitgate, raised funding from Human Capital in a Later Stage VC (Series A2) round on July 26, 2021, following a seed round of $6.5M on May 24, 2021. This round contributed to rapid funding momentum, with total raised reaching over $120M across three rounds in three months. Investors including Human Capital supported the studio's growth amid Splitgate's viral success, achieving 13M downloads by September 2021. Splitgate, released in beta across platforms including Steam, Xbox, and PlayStation, features portal mechanics inspired by Portal integrated into competitive shooter gameplay, drawing comparisons to Halo and enabling unique multiplayer tactics. The game monetizes through cosmetic items and battle passes, similar to free-to-play titles like Fortnite and Call of Duty: Warzone. 1047 Games, founded in 2016 and operating remotely with around 36-40 employees, used funding to scale development and hire talent for AAA features, new modes, skins, and long-term IP expansion. A subsequent $100M Series B round on September 14, 2021, led by Lightspeed Venture Partners with Insight Partners and others including Human Capital, valued the company at $1.5B pre-money. Funds supported Splitgate enhancements and next-game ambitions, positioning 1047 Games as an innovator in stalled shooter genres. |
| May 2021 | Seed | Galaxy Interactive (lead); vgames; Lakestar; 1Up Ventures | $7M | - | 1047 Games raised $6.5 million in a seed round on May 24, 2021, matching the investors Galaxy Interactive, Lakestar, and vgames, with the round listed as supporting its multiplayer shooter Splitgate: Arena Warfare. The company, founded in 2016, develops and publishes free-to-play first-person shooter games, with Splitgate as its flagship title released in 2019. This seed followed an earlier $3.5M seed in January 2021, bringing total raised to $10M at that point. Later in July 2021, 1047 Games completed a Series A2 round, and by September 14, 2021, it raised a $100M Series B (or Later Stage VC/Series A) led by Lightspeed Venture Partners with participation from Insight Partners, Anthos Capital, and prior investors including Galaxy Interactive, Lakestar, and vgames, achieving a $1.5B pre-money valuation. The funds supported scaling Splitgate and long-term growth toward building a major games studio. |
Who has invested in 1047 Games?
11 investors have backed 1047 Games across its funding rounds, including Lakestar, Human Capital, Galaxy Interactive, vgames, Lightspeed Venture Partners and Insight Partners.
Lead investors include Lightspeed Venture Partners, Human Capital and Galaxy Interactive.
1047 Games Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 2 | Lead | May 2021 | |
 Tel Aviv | 2 | Participant | May 2021 | |
| San Francisco, CA | 2 | Lead | Jul 2021 | |
 Zurich | 2 | Participant | May 2021 | |
 London | 1 | Participant | Sep 2021 | |
| San Francisco, CA | 1 | Lead | Sep 2021 | |
| San Francisco, CA | 1 | Participant | Sep 2021 | |
| New York City, NY | 1 | Participant | Sep 2021 | |
| Tel Aviv | 1 | Participant | Sep 2021 | |
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Start Free TrialAcquisitions by 1047 Games
1047 Games has acquired 1 company to date.
Last acquisition by 1047 Games was on November 1st 2022. 1047 Games acquired EQU8 Anti-Cheat for undisclosed valuation.
Latest Acquisitions by 1047 Games
| Description | EQU8 Anti-Cheat is a software company offering anti-cheating solutions for the online gaming industry through its EQU8 product. |
| HQ Country |  |
| HQ City | Gothenburg |
| Deal Date | 1 Nov 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all 1047 Games acquisitions and their M&A valuation multiples. Start Free Trial | |
1047 Games Competitors
1047 Games competitors include listed companies like Alpha and Oriental Pearl Group, and private ones like Spotter, Kabam, ProbablyMonsters and FromSoftware.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 China | Publicly listed | $369M | $28M | $1.9B | - | |
| Los Angeles, CA | Private | - | - | $2B | - | |
| San Francisco, CA | Private | - | - | $1B | - | |
| Seattle, WA | Private | - | - | $944M | - | |
 Tokyo | Private | $148M | - | $870M | 5.9x | |
| China | Publicly listed | $1.1B | $296M | $4.2B | 3.2x |
1047 Games Public Comps
1047 Games is still privately-owned, but its public comps include Hengdian Entertainment, PearlAbyss, Shanghai Film Group, Hangzhou Shunwang Tech, Webtoon, TF1, Modern Times Group, Huawen Media Group, SM Entertainment and Paradox Interactive.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $343M | $78M | 4.5x | 5.5x | 20.0x | 19.5x | |||
| $266M | $6M | 3.9x | 2.3x | 187.1x | 5.4x | |||
| $137M | $42M | 10.8x | 13.1x | 35.6x | 51.1x | |||
| $260M | $80M | 5.7x | 6.8x | 18.6x | 20.0x | |||
| $1.4B | ($373M) | 0.6x | 0.6x | (2.4x) | 37.6x | |||
| $2.6B | $757M | 0.5x | 0.5x | 1.6x | 2.1x | |||
| $1.2B | $210M | 1.7x | 1.6x | 9.4x | 6.7x | |||
| $53M | ($11M) | 28.3x | - | (133.6x) | - | |||
This data is available for Pro users. Sign up to see all 1047 Games competitors and their valuation data. Start Free Trial | ||||||||
Common questions about 1047 Games
| When was 1047 Games founded? | 1047 Games was founded in 2016. |
| Where is 1047 Games headquartered? | 1047 Games is headquartered in United States. |
| Is 1047 Games publicly listed? | No, 1047 Games is a private, VC-backed company. |
| What is 1047 Games' valuation? | 1047 Games was last valued at $1.5B in its Series A in September 2021. |
| How much funding has 1047 Games raised? | 1047 Games has raised $117M across 3 funding rounds. |
| What was 1047 Games' last funding round? | 1047 Games' last funding round was a $100M Series A in September 2021, led by Lightspeed Venture Partners. |
| Who are 1047 Games' investors? | 1047 Games' investors include Galaxy Interactive, vgames, Human Capital, Lakestar, Velo Partners, Lightspeed Venture Partners, Draper University Ventures, Insight Partners, Union Tech Ventures, 1Up Ventures and 1 other. |
| Which companies are comparable to 1047 Games? | Companies comparable to 1047 Games include Alpha, Spotter, Kabam, ProbablyMonsters, FromSoftware and Oriental Pearl Group. |
| How many companies has 1047 Games acquired? | 1047 Games has acquired 1 company, including EQU8 Anti-Cheat. |
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