Unity Technologies reportedly valued at $1.5B with $181M Series C
July 14, 2016
Unity Technologies, the provider of the development platform used to create the smash hit Pokémon GO, has raised a $181 million round that reportedly values the company at $1.5 billion. Its platform has been used in the development of 31% of the top 1,000 grossing mobile games globally and can be used to create interactive 2D, 3D, VR and AR experiences for systems including Xbox, iOS, Microsoft HoloLens, Android TV and Oculus Rift.
Before this round, Unity had secured relatively little venture funding, its largest raise being a $12 million Series B in 2011. It was reported in 2014 that the company was for sale for somewhere between $1 billion and $2 billion. Now it seems remaining a target rather than becoming an acquisition was a good move.
While the success of Pokémon GO may initially say more about the Pokémon brand than it does AR, the game does help open up the imagination to ways AR can be incorporated into more than just creature-catching games. Retailers and restaurants in particular have been major benefactors of the Pokémon GO AR experience because of increased traffic to their locations. The success of the game will likely to translate into more AR-based mobile apps that push users to roam their real-world environment.