For anyone who thought that Unity would be a big player in virtual reality then think again as it just got a $400 Million investment from Silver Lake.
Private equity firm Silver Lake have invested $400 Million in Unity Technologies, assuming the deal is approved by regulators. The investment would take the company to a valuation of $2.6 Billion.
Company CEO Riccitello explained to Bloomberg that a “big chunk” of the money would allow employees and some shareholders to cash out. “In terms of primary capital we don’t ultimately need all that primary capital—the capital is safety when we’re investing to grow as fast as we are,” Riccitello said.
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Riccitello continued to explain that the investment was seen as the success of the company in the AR and VR space.
“The second act that I think attracts a lot of investors and investor interest is the fact that we have about 70 percent of AR and VR content built on Unity,” Riccitiello said. “We’ve got a first wave that is going really really well and we have a second one that is dominant.”
Unity envisages its influence as much more than just gaming and sees its involvement extending to movies, applications, and the unknown. It considers its tool set an integral part of virtual and augmented reality and it appears that Silver Lake agrees given the investment.
The company also is pivotal to content creation with its EditorVR platform as it encourages developers to create more content for virtual and augmented reality. The tool enables 3D worlds to be edited from inside VR using intuitive actions complimented by tracked controllers on the Oculus Rift and HTC Vive.
Unity certainly does seem to have all basis covered for the emerging technology going forward and hopefully the investment will continue to drive innovation and development of the Unity estate.