US-based augmented reality (AR) game studio Niantic confirmed today it has secured $245m in a series C round featuring eSports platform Axiomatic and Samsung Ventures, a subsidiary of consumer electronics producer Samsung.
Institutional Venture Partners led the round, which included two more venture capital firms, Battery Ventures and Causeway Media Partners. It valued Niantic at almost $4bn post-money and followed recent reports that it was set to raise $200m.
Spun off in 2015 from internet technology provider Google, where it had been incubated since 2010, Niantic develops AR games and received the series C funding as it prepares to add a new title, Harry Potter: Wizards Unite, to a product range that includes Pokémon Go.
Bruce Stein, co-founder and chief executive of Axiomatic, said: “Seeking out innovative new experiences and technologies centred around audience engagement has been a core investment focus for Axiomatic since day one.
“Niantic has proved to have a singular touch when it comes to developing communities – both virtual and real-world, global and local – and keeping players engaged, interested and entertained. We are looking forward to playing a part in powering that innovation for communities and years to come.”
The company raised $30m in 2015 from Google, gaming hardware and software producer Nintendo and licensed game and toy provider Pokémon Company, and a further $5m from media company Fuji Television, VC firm Alsop Louie Partners and various private investors in 2016.
VC firm Spark Capital subsequently led Niantic’s $200m series B round in late 2017, investing alongside internet company NetEase, brand services firm You & Mr Jones, Meritech Capital, Founders Fund and Javelin Venture Capital.
