Niantic, the developer behind the famed “Pokémon Go” app, is in a new round of fundraising that is expected to boost the company’s valuation to $3.9 billion, as reported by The Wall Street Journal.
The San Francisco-based app developer is seeking an additional $200 million in funding through venture-capital firm IVP and with the strategic investors Samsung and aXiomatic Gaming.
Most recently, Niantic was valued at $2.7 million after it received $200 million in Series B funding. The 2017 funding round was spearheaded by Spark Capital, in association with Meritech Capital Partners, and Founders Fund.
Investors are betting on the continued success of Niantic’s current portfolio and the potential of the games it has in its pipeline.
Even after its initial success, “Pokémon Go” remains in the top 200 most downloaded apps in the U.S. app stores, as per App Annie Inc data.
Niantic is also expected to make noise with the release of its much-anticipated Harry Potter-themed game, “Harry Potter: Wizards Unite” in 2019. The app, like “Pokémon Go,” will be a free-to-play, location-based augmented reality game
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