Unity Technologies has raised a new funding worth $181 million, according to the company. The funding round sees the company about $1.5 billion, which was headed by DFJ Growth – a stage venture capital firm that invested in Twitter, Tumblr, and Tesla.
The goal of the company in raising funds is to "Write once, publish many," which was later announced. It aims to help game developers no matter what sizes in creating a game that supports all hardware platforms.
A software tool created by Unity called “game engine,” is used by developers in creating a video. It is considered as the two leading engine firms, including Epic games – a creator of the Unreal Engine.
The company’s technology and programming tools are behind thousands of indie games through PCs, mobile phones, and game consoles. Thus, these funds will allow all sizes developers to create visions and support VR an AR to grow as platforms with a sole games.
The gaming startup company’s tool has been the choice of smaller game developers, while Epic’s clients have been larger publishers, considering both companies have a tight-friendly competition.
Among the top 1,000 mobile grossing games, nearly one-third of which have been created using Unity, including the talked-about Pokémon Go at the moment.
The game Pokémon Go is a mobile hit and Unity is the platform behind this augmented reality game, which allows players to see cartoon monsters that is set for real-life locations.
The company wishes people to engage into their game engines to build more than games.
Meanwhile, a tool was built last year that is designed to create an animated feature and other concepts in virtual and augmented reality.
Unity’s New Spending
Unity’s chief executive officer John Riccitiello said, the company’s new spending will be much used in building products for the new technologies. “My view is that the market for AR and VR will one day swallow the Internet,” he said.
The company’s previous fundraising was dwarfed by the round, totaling to $25.5 million, $7.5 million. Funds were used to acquire equity from existing founders. Among the investors in the round are China Investment Corporation – a sovereign wealth fund that invests foreign exchange reserves, along with FreeS Fund, Thrive Capital, Max Levchin, and WestSummit – an existing investor.
However, Sequoia Capital declined to participate in the round, but a partner at DFJ Growth Barry Schuler joins the board. According to reports, Unity will start raising the round in March.