1047 Games Raises a Funding of $100 Million Valued after Getting Success by Splitgate

1047 Games raised an investment of $100 million, which is valued at an estimated amount of $1.5 billion, this investment was reached after getting over 13 million downloads for the portal, which is named Splitgate 

That was an amazing day for the Zephyr Cove, Nevada bass game studio as this was the first time that the download was in such a large number. The games studio previously launched a better version of the free-to-play game in 2019, which was encouraged by various users and downloaded by a large number. 

A Splitgate is a different kind of portal that enables the player to run around in a sci-fi environment in which they can instantly move from one place to another in the same environment. This enables a player to change positions quickly and frequently against his opponents in a multiplayer game.

This amazing feature is the only reason why the crowd downloads it in such a large number, as it is an outstanding opportunity to switch your position instantly and suddenly in the same environment. 

In July, the game reasoned for funding of $10 million, followed by funding of $6.5 million in May. However, at the start of the funding, it appears that sufficient funds will be difficult to raise because the CEO, Ian Proulx, has returned home due to an uncontrollable fire in the Lake Tahoe region. 

This summer, the maker of the game asked for an open beta test across the PC, PlayStation, and Xbox consoles, and, surprisingly, it hit 13 million downloads within just two months of going open.

However, due to a large number of responses in the millions, the company postponed the formal launch until it could develop its software to handle more players across its limits and capacity. 

Proulx says that when we think that things are going out of our hands and there is no alternative, we find a large amount of human capital around us. When we are thinking the time is not good, suddenly we start getting a lot of attention from people and from gamers. At first, we thought of handling them later, but suddenly we just realized that we could convert this human capital into a unique opportunity.

This is because our situation is bad, but because of this human support, things were again blooming up and everyone wanted to connect. 

He further added that the game started as an idea that he had maybe 10 years ago. I was playing Valve’s Portal game when this idea hit my mind. I can’t stop myself from thinking more and more about the concept of having two portals in a game that allow us to travel from one place to another in the same environment.

I liked this idea so much that I modeled it, converted it, and successfully created Portal 1 and Portal 2. In the beginning, I always thought in my mind how amazing it would be when these portals were applied to various types of games, especially FPS games, which I had played a lot in my childhood. 

Proulx first asks his friend if they should play together and try this project to give it validation or confirmation. But it was the final time and no one had the spare time to spend on the test of this project. He asked them to play for no more than 45 minutes. They all agreed to this, and the validation went on successfully. 

Afterward, Proulx decided that he should raise money for this project. For the past 2 years, he has given most of his time or his entire time to fundraising for this project. 


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