3 private companies changing the “game”
Industry analysts continue to project expansion in the global video game market over the coming decade. According to Newzoo, a research firm for the gaming sector, the global games market is expected to reach $206.5 billion in 2028, up from approximately $184 billion in 2025, representing roughly 12% growth over three years.1 While player engagement levels have begun to normalize in some regions following pandemic-era highs, overall participation remains strong, with nearly four billion players worldwide. Continued growth across mobile, PC, console and emerging platforms underscores the industry’s durability and creates fertile ground for innovative private gaming companies seeking scale and strategic capital.
Against that backdrop, here are three innovative private gaming companies on Forge Global that investors may want to keep on their radar.
Epic Games, popular gaming studio
Cary, North Carolina–based Epic Games is a leading interactive entertainment company specializing in video game development, publishing and 3D engine technology. The company is best known for blockbuster franchises such as Fortnite, Gears of War, and Unreal Tournament, as well as Unreal Engine, one of the most widely used real-time 3D creation platforms in the world.2
Epic has not been without controversy. In recent years, the company engaged in high-profile legal disputes with Apple and Google over app store commission structures, challenging the economics of digital distribution.3 Since then, Epic has continued to expand its direct-to-consumer strategy, including launching its own mobile app store in 2024 to distribute its gaming titles more directly.4
A key reason Epic remains one to watch is its ability to translate cultural relevance into platform leverage. In February 2024, Disney announced a $1.5 billion investment in the company, with plans to co-develop a new “games and entertainment universe,” further validating Epic’s role at the intersection of gaming, media and immersive digital experiences.5
Founded in 1991, Epic is no longer a startup, but it continues to demonstrate scale and durability in a rapidly evolving industry. As of March 5, 2026, Epic’s Forge Price™ was $479.75, implying a valuation of $17.99 billion. Notable investors include BlackRock, Fidelity Management & Research, ICONIQ Growth and Kleiner Perkins.
Underdog Fantasy, sports gaming and media company
Brooklyn, New York–based Underdog Fantasy is a sports gaming and media company focused on daily fantasy sports and sports betting. The platform offers a streamlined, mobile-first experience centered around pick’em contests and draft-style games, positioning itself as a user-friendly alternative within the broader sports wagering ecosystem.
Underdog has steadily expanded its product suite and geographic footprint in recent years, capitalizing on the continued legalization of sports betting across the United States. In March 2025, the company announced a Series C funding round led by Spark Capital, with the raise reportedly valuing the company at over $1.2 billion.6
A key reason Underdog remains one to watch is its ability to scale within a highly competitive and regulated market. The private company was third on LinkedIn’s “2025 Top Startups List,” recognized for its growth and innovation.7
Founded in 2020, Underdog’s price-per-share is $10.75 as of its fundraising round in March of 2025. The private company’s notable investors include BlackRock, Acies Investment, Thirty Five Ventures and Mark Cuban.
The Players’ Lounge, competitive gaming platform
New York–based The Player’s Lounge is a competitive gaming platform that enables players to wager on their own performance in head-to-head matches, tournaments, and challenges across popular video games, offering cash prizes for skilled play. The platform’s mission is to give gamers of all skill levels the opportunity to earn money playing games they love by betting on their own outcomes rather than traditional esports spectating or team play.
In July 2022, the company closed a Series A funding round led by Griffin Gaming Partners, with participation from Comcast Ventures, Samsung Next, Vice Ventures and several athlete investors, a signal of confidence in the company’s unique positioning within the competitive gaming ecosystem.8 At the time, the gaming company was looking to expand its core products beyond traditional sports titles and into broader competitive gaming, connecting users for matched wagers at the tap of a button.
A key reason The Player’s Lounge remains one to watch is its differentiated “bet-on-yourself” model, which aligns platform revenue with player performance and engagement rather than passive consumption. As competitive gaming and skill-based wagering continue to grow in popularity, platforms that enable direct monetization of player time and expertise may capture a meaningful share in the broader gaming landscape.9
Founded in 2014, The Players’ Lounge has a notable set of key backers including Comcast Ventures, Canaan Partners, 529 Ventures and Evolution VC Partners.
