The latest round of funding brings Niantic’s valuation to nearly $4 billion. The Series C funding was led by IVP, and additional investments came from aXiomatic Gaming, Battery Ventures, Causeway Media Partners, CRV, and Samsung Ventures.
The funding round comes just under two weeks after Niantic closed a $190 million equity sale.
So what does all of this funding mean for Niantic? The company will further invest in advancing augmented reality (AR) technology. While AR is a key component in “Pokemon Go” and will be a part of the upcoming “Harry Potter: Wizards Unite”, Niantic plans to advance its AR capabilities and invest in machine learning and its Niantic Real World Platform. The developer will also continue its efforts to “broaden its game offerings,” according to the press release.
John Hanke, Niantic co-founder and CEO, commented on how the funding will help his company “[bring] people together through experiences that marry advanced technology and the real world,” in the press release.
“This funding round adds financial and strategic support as we focus on doubling down on that mission with our platform and building upon the popularity we’ve established in recent years as we grow our portfolio and offerings,” Hanke stated.
IVP’s Sandy Miller commented on her company’s investment in Niantic in the press release.