CCP Games Secures $40 Million in Funding with A16z as Lead Investor

CCP Games Secures $40 Million in Funding with A16z as Lead Investor

Time Stamp: March 21, 2023 11:18 AM
Source Node: 2559167

CCP Games, the Icelandic video game developer behind the popular space-themed MMORPG (massively multiplayer online role-playing game) Eve Online, has secured $40 million in funding with Andreessen Horowitz (A16z) as the lead investor. The funding will be used to support the development of new games and expand CCP Games’ presence in the gaming industry.

Founded in 1997, CCP Games has been a pioneer in the gaming industry, creating immersive virtual worlds that allow players to explore, interact, and compete with each other. Its flagship game, Eve Online, has been running for over 18 years and has a dedicated player base of over 300,000 active subscribers.

The new funding round was led by A16z, a Silicon Valley venture capital firm known for its investments in technology companies such as Facebook, Airbnb, and Coinbase. A16z’s investment in CCP Games is a testament to the potential of the gaming industry and its ability to create engaging and profitable experiences for players.

According to Hilmar Veigar Pétursson, CEO of CCP Games, the funding will be used to “accelerate our growth and continue to innovate in the gaming industry.” He also stated that the company is “committed to creating immersive and engaging experiences for players around the world.”

CCP Games has already announced several new projects in development, including a first-person shooter game set in the Eve Online universe and a mobile game based on the popular board game, Werewolf. The funding will allow the company to invest more resources into these projects and bring them to market faster.

The gaming industry has seen tremendous growth in recent years, with revenues expected to reach $200 billion by 2023. This growth has been driven by the increasing popularity of mobile gaming and the rise of esports as a mainstream form of entertainment.

CCP Games’ success with Eve Online and its commitment to innovation make it a promising player in the gaming industry. With the new funding from A16z, the company has the resources to continue pushing the boundaries of what is possible in gaming and create new experiences that captivate players around the world.