Pokemon Go developer Niantic Labs began its life as a Google subsidiary, but the company spun out in 2015, and reached a new stratosphere of success with the launch of Pokemon Go in July 2016. The San Francisco-based developer is growing still, with a new report claiming the company is working to secure a $200 million round of funding.
According to The Wall Street Journal‘s sources, the further $200 million would raise the company’s total valuation to $3.9 billion. The latest round of funding is expected to be led by venture capital firm IVP, with more money coming from Samsung and aXiomatic Gaming.
There is no word on what the rumoured round of $200 million in funding would go toward at Niantic, but the studio has a new Harry Potter game in the works, in addition to ongoing support for Pokemon Go. The WSJ report says Niantic could be working on games for “other franchises,” but none were named.
Niantic’s new Harry Potter game, Wizards Unite, was initially expected to launch in 2018 but it was later delayed to 2019. Not much is known about the game, but it’s said to use a similar augmented reality set-up that Niantic struck gold with for Pokemon Go.
Pokemon Go is free, and it makes money through in-game microtransactions. While the game might not be as popular as it once was, it still makes a lot of money. In November, the game pulled in $80 million worldwide from its microtransactions on iOS and Android, according to a report from SensorTower.
In other news, Pokemon Go’s latest winter event kicks off this week. Among other things, it lets you earn bonuses, hatch Eggs more easily, and encounter Pokemon from the Sinnoh region. You can learn more about the event in our coverage here.