×
You will be redirected back to your article in seconds

‘Pokemon Go’ Developer Secures $245 Million in Series C Funding

Niantic, the developer behind “Pokemon Go,” finished its Series C financing with $245 million on Wednesday, according to a press release.

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.

“IVP is excited to support Niantic in building the future of AR — initially as it delivers the magic of AR through highly popular games, but ultimately by delivering an operating system for applications that unite the digital world with the physical world,” said Miller. “It’s a rare opportunity to partner up with a company that is already highly profitable at this stage, which is another reason we are so bullish on Niantic.”
The funding is on top of the incredible revenue that Niantic pulls in with its most popular title, “Pokemon Go.” Last year, the AR game pulled in an estimated $795 million globally.

More Gaming

  • Phil Spencer

    Xbox Chief Phil Spencer Outlines Plan to Combat Online Toxicity

    Head of Xbox Phil Spencer outlined new plans to combat toxicity and promote online safety in a post on the Microsoft Blog on Monday. Spencer believes in two fundamental truths about gaming, he said. One, that gaming is for everyone and, two, gaming must promote and protect everyone’s safety. “No one group ‘owns’ gaming,” Spencer [...]

  • Oculus Quest Gets Netflix App, But

    Oculus Quest Will Have Netflix, but Not Plex or HBO

    Facebook’s new Oculus Quest headset is launching with a number of high-profile gaming titles this Tuesday. Media apps on the other hand will take a bit of backseat, with some key players sitting this latest headset out for the time being. First, the good news for anyone who has pre-ordered the headset: One of the [...]

  • Sony Interactive Launches Film, TV Studio

    Sony Interactive Launches Film, TV Studio to Adapt Video Game Projects

    Sony Interactive recently launched PlayStation Productions, a studio tasked with adapting the company’s video game properties into films and television shows, according to The Hollywood Reporter. PlayStation Productions is headed by Asad Qizilbash and overseen by SIE chairman of Worldwide Studios Shawn Layden. It’s reportedly already working on its first slate of projects on the [...]

  • Watch YouTuber Play VR Game 'Apex

    Watch YouTuber Play VR Game 'Apex Construct' on a Football Field

    “Apex Construct” developer Fast Travel Games recently teamed up with YouTube content creator Jugon Virtual to show off the virtual reality adventure game’s motion mechanic on a large football field. Using the standalone Ocululs Quest headset and body motion exclusively to navigate the game world, Virtual covered a total area of 6050m2 while playing, Fast [...]

  • Double Fine's Apocalyptic Rogue-Like 'Rad' Coming

    Double Fine's Apocalyptic Rogue-Like 'Rad' Coming August 20

    Double Fine Productions’ upcoming 3D rogue-like “Rad” is coming to Xbox One, PlayStation 4, Nintendo Switch, and PC on August 20, the developer announced Monday. Set in a post-post apocalyptic world in which humanity has faced the end of the world twice over, players take on the role of a teen protagonist who is forced [...]

  • Players Can Explore 'Outer Wilds' Solar

    Players Can Explore 'Outer Wilds' Solar System This Month

    Open world exploration game “Outer Wilds” is coming out at the end of this month, Annapurna Interactive announced Monday. The final version of the game, which puts players in a repeating 20-minute loop in a time-stuck solar system, is coming on May 30. In “Outer Wilds,” the player is the newest recruit to a space [...]

  • BAFTA Young Game Designers Make Games

    BAFTA Young Game Designers Make Games for Social Change

    The British Academy of Film and Television Arts (BAFTA) selected 40 entries as finalists in its Young Game Designers (YGD) Competition 2019 on Monday, according to a press release. 53 budding game designers as young as 10 were named as finalists in the annual UK-wide competition, selected by a panel of gaming industry professionals. The [...]

More From Our Brands

Access exclusive content