1047 Games announced a $100 million funding round on September 14, 2021, at a stated $1.5 billion pre-money valuation. The studio said its free-to-play shooter Splitgate had passed 13 million downloads in less than two months after its open beta began that summer. Those were historical download figures—not a count of active players—and the announcement does not establish that downloads alone caused the investment or determined the valuation.
What 1047 Games announced
The September 14, 2021, announcement put the round at $100 million and the company’s valuation at $1.5 billion pre-money. “Pre-money” means the stated valuation was for the company before the new investment was added; it should not be described as a $1.5 billion post-money valuation.
Lightspeed Venture Partners led the round. The company named Insight Partners, Anthos Capital, Galaxy Interactive, VGames, Human Capital, Lakestar, DraperDragon, and Draper University among the participating firms. 1047 Games said it would use the funding to develop Splitgate, hire across the studio, and pursue its broader ambition to make distinctive games. 1047 Games’ funding announcement is the source for the round terms and company-stated plans.
What the Splitgate numbers measure
The 13 million figure refers to downloads accumulated during Splitgate’s 2021 open-beta surge. 1047 Games said the game passed that mark in less than two months after the beta began. It is not a figure for players online at once, monthly active users, or current players.
The Tool Desk
Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →#1 Best Overall
Lightspeed’s separate investment account called the deal a Series A and described more than 13 million downloads in the month since the console beta launch, along with 200,000 peak concurrent players across PC, PlayStation, and Xbox. Peak concurrent players measures the highest reported number playing simultaneously; downloads count installations or acquisitions over a period. The two accounts also describe different time windows, so their wording should not be collapsed into a single, more precise interval.
| Measure | What was reported | Scope and attribution |
|---|---|---|
| Downloads | More than 13 million | 1047 Games said this was reached in less than two months after the 2021 open beta began. Lightspeed separately described more than 13 million in the month since the console beta launch. |
| Peak concurrent players | 200,000 | Lightspeed’s 2021 account reported this peak across PC, PlayStation, and Xbox; it is not a download or active-user total. |
| Earlier download milestones | Around 600,000 in the first month for the original MVP; more than 10 million in July for the multiplatform relaunch | TechCrunch reported these figures on September 14, 2021; they are not measurements issued in 1047 Games’ funding announcement. |
TechCrunch’s September 14, 2021, coverage supplied the earlier MVP and July relaunch figures. The available accounts are company and investor statements and contemporaneous reporting, not an independently audited download or valuation dataset.
Rank #2
Why investors were interested in Splitgate
Splitgate was a free-to-play competitive arena shooter built around player-controlled portals. TechCrunch described it as drawing on arena shooters such as Quake 3, Unreal Tournament, and Halo, with portals adding a way to move around the arena. In an October 2021 Xbox Wire post, creator and 1047 Games co-founder Ian Proulx wrote, “Many players have described Splitgate as being inspired by games like Halo and Portal. This is no accident!”
That blend of familiar arena-shooter combat and portal movement helps explain the game’s distinctive pitch. Lightspeed cited the game’s audience and gameplay in its investment account, while 1047’s release framed the funding as support for both Splitgate and studio growth. The sequence—rapid uptake alongside a large financing round—does not prove downloads alone caused the investment or set the valuation.
Recommended Free Tools
Rank #3
- Expand Your Strategy: Dive into tactical gameplay with Watergate by Capstone Games—offering head-to-head 2-player matches, challenging decision-making, and immersive historical mechanics that enhance competitive board games for adults and families alike.
- Quick Yet Deep: Enjoy 30–60 minutes of strategic fun as you plan moves, outmaneuver your opponent, and experience replayable gameplay designed for two players, couples, or friends seeking intellectually engaging tabletop games.
- Tactical Thinking Made Fun: Challenge your skills in this two-player strategy board game, where careful planning, calculated moves, and critical thinking create intense and rewarding gameplay for adults and family players.
- Engaging Replay Value: Each session feels unique with replayable mechanics, tactical depth, and balanced challenges, making Watergate an ideal competitive strategy board game for 2 players, couples, or adult board game enthusiasts.
- Award-Winning Design: Capstone Games delivers a thoughtfully crafted tabletop experience combining strategic choices, historical intrigue, and competitive fun—perfect for adults and families looking for immersive 2-player board games.
TechCrunch reported that Proulx described the business model as earning money from cosmetic items and optional perks. That is an attributed description of the model, not a disclosed revenue figure.
What the funding was meant to support
1047 Games CEO and co-founder Ian Proulx said in the announcement: “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,” The company described development, hiring, and its ambition to make distinct games as uses for the capital; the announcement did not provide a spending breakdown or a timetable for particular projects.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Later server news is separate from the 2021 deal
In a report dated August 31, 2026, PC Gamer said 1047 Games would end dedicated-server and matchmaking support for Splitgate: Arena Reloaded and Empulse on September 3, 2026, because revenue did not cover dedicated-server costs. The report said peer-to-peer play would remain. It quoted a studio Steam update: “The reality is that neither game is generating enough revenue to support the ongoing cost of dedicated servers,” See PC Gamer’s report for that later update. It concerns those titles and their server support; it does not revise the historical 2021 funding terms or establish the original Splitgate’s current service status.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
