With new raise, Unity could nearly double valuation to $6 billionMay 9, 2019
Unity Technologies, the company behind one of the world’s most popular game engines, could nearly double its reported valuation in a new round of funding.
The company has filed to raise up to $125 million in Series E funding according to a Delaware stock authorization filing uncovered by Prime Unicorn Index and reviewed by TechCrunch. If Unity closes the full authorized raise it will hold a valuation of $5.96 billion.
A Unity spokesperson confirmed the details of the document.
The SF company builds developer tools that allow game-makers to build titles and deploy them on consoles, mobile and PC. More than half of all new games are built using the platform. Customers pay for the platform per developer once their projects reach a certain scale.
Unity’s competitors include Fortnite-maker Epic Games, which has been able to rapidly acquire startups and game studios in the past two years fueled by the profits of their blockbuster hit.
Unity most recently closed $400 million in Series D funding led by Silver Lake, a “big chunk” of which went toward purchasing the shares of longtime employees and earlier investors. The round left the company’s valuation north of $3 billion. The company, founded in 2003, has raised more than $600 million to date.
The company’s previous backers include Sequoia, DFJ Growth and Silver Lake Partners.
Earlier this year, Cheddar reported that Unity was eyeing a 2020 IPO, though the company did not comment on the report.