Unity Technologies Takes $12 Million For 3D Gaming Development, Looks To China For Big Growth

Game development startup Unity Technologies, founded in Copenhagen and currently headquartered in Silicon Valley, has raised a second round of financing - $12 million from Asian firms WestSummit Capital in China and iGlobe Partners in Singapore. Previous investor Sequoia Capital has also participated in the round, and Raymond Yang from WestSummit has joined the company's board of directors. We continue to hear nothing but great things about Unity. Game developers love it - there are some 500,000 registered seats on Unity, and 150,000 of them are active monthly. Hit games like Bigpoint's Battlestar Galactica and Gazillion's Marvel Super Hero Squad were built on Unity. And EA inked a wide ranging deal with Unity last year to get Unity tools in front of EA developers. Today, 12,000 of the companies active developers are in China. But in 18 months, says CEO David Helgason, China-based developers should be 40% of Unity's business. That's why Unity went with Asian investors over U.S. based venture funds in this round, he says. The company isn't commenting on valuation, but a couple of sources told us that this round values Unity at over $100 million. It looks to be a big win for Sequoia, who got in early.
Michael Arrington

Michael Arrington is a Writer at Gigabuzz, focused on covering early-stage startups, especially those with a technology focus and great perks.

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