1047 Games nets $100 million to expand and support sci-fi shooter Splitgate

Splitgate developer 1047 Games has raised $100 million in funding at a $1.5 billion valuation to continue developing the reality-warping shooter

The investment round, which is the third for 1047 Games in as many months, was led by Lightspeed Venture Partners and means the studio has raised $120 million over the past 12 weeks.

The cash will allow 1047 to turn Splitgate into a "top-tier, AAA competitive shooter" as part of its larger vision for the title. The studio also intends to use the funds to make new hires.

"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,” said 1047 CEO and co-founder, Ian Proulx. "We are far from finished building out what we feel is the complete Splitgate experience for our loyal and dedicated fans. The funding secured from our partners, combined with the belief and support of our vision, enables us to focus on both our short-term growth needs."

Splitgate is currently available to play in open beta and has amassed over 13 million downloads in less than two months. The free-to-play shooter only crossed 10 million downloads in August, with that success prompting the dev team to extend the beta indefinitely.