Unity, the game engine powering massive numbers of mobile games, has raised an additional $400 million of investment according to a statement made to Bloomberg LP. John Riccitiello, CEO of Unity Technologies, revealed the investment was from private equity firm Silver Lake, and valued Unity at over $2.6 billion, a massive increase on its $1.5 billion valuation last July.
This massive increase is reportedly due to the continued dominance of the engine the development of mobile games. The mobile game market, including both paid for apps and F2P games, was worth a record $41 billion in 2016, up 18% from the year before, so it makes sense the investors are wanting to get involved in the technology backing much of this significant volume. Games and apps using the Unity engine are expected to reach 2.4 billion devices worldwide. Top mobile games built using Unity include Pokemon Go, Hearthstone and recent release King of Glory, which made over $400 million in one month.