SAN FRANCISCO — Unity Technologies, the largest global development platform for creating 2D, 3D, virtual and augmented reality games and experiences, announced today an investment by Silver Lake of up to $400 million in the company. The primary use of new capital will be driving growth in Unity’s augmented and virtual reality capabilities and in its core engine.
Silver Lake is a leading technology investment firm with $39 billion in assets under management. Managing Partner Egon Durban will join Unity’s board of directors.
“Our mission to help game developers bring their disparate creative visions to life has enabled us to create a rapidly expanding global platform with enormous growth potential both within and beyond gaming,” said John Riccitiello, CEO of Unity. “We look forward to partnering with Silver Lake, with its proven technology industry expertise, to enhance Unity’s next stage of growth, allowing us to accelerate the advance of augmented and virtual reality in both gaming and non-gaming markets and continue to democratize development.”
Unity is the leading provider of mission-critical infrastructure for gaming. Every month, developers using the Unity platform create more than 90,000 unique applications, which are downloaded over 1.7 billion times per month. Over the past two years, the company has leveraged its long history as a game engine provider to expand into new offerings, including a market-leading in-game mobile ad network and a widely deployed analytics tool using machine learning and data science. Unity has also established 3D visualization and virtual and augmented reality partnerships with Facebook, Microsoft and Google, as well as non-gaming firms and institutions, including Gensler, NASA Jet Propulsion Laboratory and Audi.
The company is experiencing dramatic growth. At the end of the first quarter of 2017 unique devices containing apps made with Unity technology increased 40% year-over-year to more than two billion, and unique devices served every month by Unity’s ad network increased more than 50% year-over-year to approximately one billion.
“Unity’s revolutionary development platform and its exposure to strategic mobile, gaming, and virtual and augmented reality markets is poised to create multiple new high-growth opportunities for the company, its developer community, and its enterprise partners in the years to come,” said Durban. “We are very excited to partner with John Riccitiello and his world-class team, along with the company’s existing investors, to achieve Unity’s long-term strategic vision and realize its full growth potential.”
“It’s been a privilege to work with Unity as they’ve evolved from a small startup to the largest gaming development platform in the world,” said Roelof Botha, a Sequoia Capital partner. “In the past year, we’ve been blown away at how quickly they’ve written their next chapter of growth: they’re already the top choice for developers building augmented and virtual reality games.”