Zephyr Cove, NV (May 24, 2021) - 1047 Games announced they have closed an early round of funding totaling $6.5 million with Galaxy Interactive as their lead investor alongside VGames, Lakestar, and 1Up Ventures.
1047 Games’ free-to-play online shooter, Splitgate, initially launched its MVP on the PC platform in 2019 to positive fan and critical reception. The unique title was lauded for combining fast-paced multiplayer sci-fi shooter elements with player-controlled portals, adding an entirely new dimension to the FPS genre. 1047 Games has spent the last two years improving the game and will use the funding to substantially increase production of in-game content for the game’s loyal fanbase and ramp up marketing efforts to obtain new players. The company is also in the process of onboarding top new talent to its developer roster.
“With Splitgate and its fantastic portal mechanic, 1047 Games is elevating the FPS genre in new and innovative ways,” said Richard Kim, General Partner at Galaxy Interactive. “It’s astounding what such a small team has been able to accomplish, creating a AAA quality game at a fraction of the cost. Splitgate is unique, addictive, and fun! We’re incredibly excited to back this team, and we can’t wait for the world to create tons of memorable moments while playing this game.”
Eitan Reisel, Founder and Managing Partner at Vgames said, “We are very excited to join Ian and the 1047 team for the growth of Splitgate. We were super impressed with the level of production and the great team and are confident many players will enjoy playing Splitgate.
Leading entertainment media outlet IGN.com in its review of the title described Splitgate as “Halo meets Portal.” The game has had a dedicated and loyal following since its launch and after three seasons is entering a new phase of its development.
1047’s co-founder and CEO Ian Proulx said, “We’re proud to be working with the game industry’s top VCs to elevate Splitgate’s position as a top-tier multiplayer experience. We’re uniquely positioned among online shooters to grow and expand both our current game and its loyal fan base to more gamers around the globe. Splitgate is a fast, smart shooter that offers players a totally fresh take on competitive shooter gameplay, and with the latest round of funding we’re excited to amplify its current state to new heights of success.”
Previous funding rounds including Draper Dragon and Draper University Ventures bring the total funding to more than $10 million. Major new announcements from the 1047 team are planned starting in June.
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About Galaxy Interactive
Galaxy Interactive is a sector-focused VC fund dedicated to investing within the interactive entertainment ecosystem. As one of the most active gaming VCs in recent years, the fund has built a 60+ strong portfolio across the themes of interactive content, social, and infrastructure. Learn more at https://galaxyinteractive.io.
VGames is a $60M Games fund based out of Tel Aviv investing in game companies globally. The fund invests in early and mid stage game companies, supporting talented founders in building the next generation of unicorn game companies.
Lakestar is one of Europe's leading venture capital firms investing in technology companies led by exceptional entrepreneurs. The team’s early investments include Skype, Spotify, Facebook and Airbnb. Lakestar now manages over EUR 1bn across three early stage funds and a growth fund, and has expanded and broadened its portfolio to hold investments in the likes of Opendoor, Oscar, Glovo, Sennder, Eigen and Revolut. Lakestar has presence in Berlin, Zurich and London. Learn more at www.lakestar.com
About 1up Ventures
1Up Ventures is a venture fund focused on building a community of independent game developers. Founded by Ed Fries, former vice president of Microsoft Game Studios and a co-founder of Xbox, Fries opened the fund in 2019. 1Up Ventures is located in Kirkland, Washington. Learn more at https://1upfund.com.
DraperDragon is an early-stage venture fund. Since 2006, we have been working with technology companies to build their products and expand market shares in North America and Asia. We are headquartered in Silicon Valley and have management and consulting offices in Shanghai, and Hong Kong. Learn more at http://draperdragon.com/home-en.
About Draper University Ventures:
Draper University Ventures invests in alumni of Draper University, a leading Silicon Valley pre-accelerator is led by venture capitalist Tim Draper. With alumni in over a 100 countries, Draper University is on a mission to inspire people and accelerate ideas by igniting the entrepreneurial spirit. The university brings founders, operators and venture capital all under one umbrella.