Niantic, Inc., an American software development firm based in San Francisco, U.S., has reportedly raised $245 million in its Series C funding round. IVP, a venture capital firm led the round along with participation from Samsung Ventures, Battery Ventures, AXiomatic Gaming, CRV, and Causeway Capital Management.
Niantic is the studio that is responsible for Pokémon Go, Ingress Prime, and Harry Potter: Wizards Unite – games that are free-to-play on mobile and those that combine the real and digital worlds using augmented reality (AR) and mechanics. With the influx of new cash, the studio plans to expand its augmented reality technologies. The firm will put up some of the obtained capital toward its Niantic Real World Platform, machine learning, and new content. Niantic also plans to bring on fresh talent.
John Hanke, Co-founder & Chief Executive Officer of Niantic, was reportedly quoted stating that the firm continues to stay focused on delivering on its goal of bringing people together through experiences that combine the real world and advanced technology. This funding round adds strategic & financial support as the firm focus on doubling down on that mission with its platform and building upon the popularity the company has established in recent years as it grows its portfolio & offerings.
Seemingly, Niantic, Inc. plans to make its Real World Platform open to all developers – something that IVP is interested in.
Sandy Miller, IVP partner, was quoted stating that IVP is thrilled to support Niantic in building the future of augmented reality – initially, via delivering AR through highly popular games, and later through delivering an operating system for applications that integrate the physical and the digital worlds. Miller, in appreciation of the Pokémon Go developer, adds that it is not very often that one gets to partner up with a firm that is already highly profitable at this stage.