CCP Games Raises $30 Million For Virtual Reality Development

CCP Games, the leader in virtual reality immersive technology, today announced that it has raised $30 million to bolster the development of virtual reality (VR) content. New Enterprise Associates led the investment, with participation from private equity firm Novator Partners LLP.

The investment will be used to further position the company to drive innovation in VR as the technology begins to transform the entertainment industry.

Harry Weller, General Partner at NEA, has joined CCP’s Board of Directors and Andrew Schoen, also of NEA, will be joining as Deputy Director.

CCP has announced two VR games slated for release in the next eight months: EVE: Valkyrie will launch with the Oculus Rift in spring 2016 and PlayStation VR in the first half of 2016 and is being created at CCP’s Newcastle studio. Gunjack, in development at the company’s Shanghai studio, is scheduled for release on Samsung’s Gear VR platform later this month.

“We believe VR will revolutionize not just videogames, but the wider technology and media industry as a whole,” said Hilmar Veigar Pétursson, CEO of CCP.  “We were there at the beginning, and this investment will give us strength to maintain our leading development efforts.”

“We’ve been admirers of CCP for quite some time,” said Weller. “Their legacy with EVE Online and early investments in VR have put them in a leadership position, and we want to partner with them to further build on the great platform they have already established.”

CCP Games was founded in 1997 in Reykjavik, Iceland. With the launch of EVE Online in May 2003, CCP established itself as one of the most innovative companies in interactive entertainment, winning numerous awards and receiving critical acclaim worldwide. CCP’s major shareholders include Novator, General Catalyst, and NEA.