Splitgate, the Halo meets Portal competitive FPS, has had an amazing few months. In just under two months, the game has been downloaded over 13 million times. Now that they are seeing a huge ground swell of support and have received funding, they are looking to the future.
1047 Games, the developers of Splitgate, announced that they recently received a $100 million injection of funds by an investment group led by Lightspeed Venture Partners. As a result of this investment and the massive growth of their audience, the developers are now valued at $1.5 billion. With that sort of profile and valuation, we could be witnessing the birth of a new gaming giant.
This is a long way from their inauspicious beginnings back in 2019. They released the game in early access and were met with what could generously be called disinterest. They barely reached five figures for concurrent players and anyone that decided to review the game came away bored. Now that they have taken two years to improve the game, it was met with excitement and anticipation for its 1.0 full release.
As for what they plan to do with the funds, they are planning to expand. In a Twitter post announcing the investment, they mentioned that they are planning to hire a bunch more developers to work on the game. As a result of those new developers, they can iterate on new ideas, improve the game, deal with bugs and crashes, and all of this will be much quicker than before.
We have already seen some small community focused esports events cropping up around the Splitgate professional scene. One prominent example was the recent series hosted by 1047 Games in partnership with Xbox. That tournament was officially sanctioned but the prize pool was only $10,000. That might not sound too bad but most major tournaments for larger esports usually have prize pools that reach six figures at least.
Now that 1047 Games has received the $100 million investment, that can start thinking more seriously about the world of esports. Valorant is a relatively new title and they have seen enormous growth over the past couple of years, granted it was developed by Riot Games (you couldn’t name another developer more ingrained in the world of esports), but we could be seeing another huge esports title in the making right now.
It will probably take some getting used to, the portal mechanic adds a sense of randomness to the game that is just not present in titles like Valorant or CS:GO, but we think that the faster pace could bring in a different group of fans. They may not be interested in a slower paced game, but Splitgate might have the right sort of gameplay to entice them.
The difficulty will be getting major esports organisations interested in the game. Now that they have some spare cash lying around, we don’t think that enticing teams will be too hard. Hopefully we will be seeing more of Splitgate in the future.