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Unity double its valuation to $6 billion after new funding

Catherine Feather

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Unity

Unity Technologies is responsible for a lot of popular games you play in. The gaming engine is receiving a new round of funding, and this would double its valuation. This news came about after Prime Unicorn Index uncovered some Delaware stork authorization filing which revealed that the company has filed for a massive $124 million raise in their Series E funding. If Unity is able to close the deal, then it will hold a valuation of $5.96 billion.

The content of the documents has been confirmed by a Unity spokesperson later. The company develops tools which allow game-maker to build their own games and then deploy them on whichever platform they wish (console, PC and mobile). Unity has been dominating the market as more than half of the games are build using their tools. Their customers pay for the platform per developer, once the game reaches a certain scale.

Their rival includes Fortnite-maker Epic Games which is cashing in on their blockbuster gaming hit. They are rapidly acquiring gaming studios and startups in the past two years to grow in the market.

Unity has had a fun time raising money as they raise an impressive $400 million in Series D funding. A big chunk of this went into purchasing shares of early investors and longtime employees. This left the company to be valued just above $3 billion after the round. This is good business as they have raised more than $600 million till date since they were founded back in 2003.

Some of company previous backers include Silver Lake Partners, Sequoia, and DFJ Growth. Another report, this time from Cheddar stated that the company is looking at an IPO in 2020. No one from Unity has commented on this.

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Catherine Feather is a Data Engineer with expertise in Python, Pandas, Numpy, Web Scraping, Pyspark, SQL and MongoDB. She analyses the business concerns and supports the company to manage them adequately. She is also a bookworm so, when not working you will find her lost in a book. Jane Austen is her favorite author!

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