Niantic Revenue, Valuation, Funding & Investors
Niantic is valued at $9B as of November 2021, a 13.4x multiple on its last reported $672M revenue.
Last Niantic valuation
$9B
Series D · Nov 2021
Last Niantic funding round
$300M
Series D · Nov 2021
Niantic revenue
$672M
Series D · Nov 2021
Key investors in Niantic
Brandtech Ventures
Founders Fund
Battery Ventures
Spark Capital
Coatue
CRV
About Niantic
Niantic is a San Francisco-headquartered developer of augmented reality games and platforms that fuse virtual content with physical locations. Best known for Pokémon GO since 2016, which partnered with Nintendo and The Pokémon Company, the company also created Ingress in 2013 and Harry Potter: Wizards Unite until 2021. Niantic's Lightship ARDK supports developers building location-based experiences, covering mapping data from more than 25 million square kilometers. Spun off from Google in 2015, it operates studios in Tokyo, London, and Seoul, delivering real-time multiplayer features across iOS and Android.
Founded
2010
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B & B2C
Revenue model
Licensing, Product sales
Revenue
$672M (Nov 2021)
Valuation
$9B (Nov 2021)
Sectors
Niantic Valuation
Niantic is currently valued at $9B, based on its Series D in November 2021.
The $300M round was led by Coatue, with participation from ID8 Investments and Pure Imagination Brands.
Niantic's valuation has grown 58x from $155M at its Series A in February 2016 to $9B in November 2021, across 4 priced rounds.
Niantic valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2021 | Series D | $9B | 13.4x |
| Jan 2019 | Series C | $4B | - |
| Nov 2017 | Series B | $1.8B | 5.0x |
| Feb 2016 | Series A | $155M | - |
Niantic Revenue
Niantic's latest recorded revenue is $672M, as of its Series D in November 2021. At a $9B valuation, that implies a 13.4x revenue multiple.
Revenue grew from $361M in November 2017 to $672M in November 2021, while the revenue multiple moved from 5.0x to 13.4x.
Niantic revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2021 | $672M | $9B | 13.4x | Series D |
| Nov 2017 | $361M | $1.8B | 5.0x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Niantic Funding History
Niantic has raised a total of $770M across 5 funding rounds.
Niantic's first fundraising round was a $20M Series A in October 2015. The most recent completed round was a $300M Series D in November 2021.
Niantic funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2021 | Series D | Coatue (lead); ID8 Investments; Pure Imagination Brands | $300M | $9B | Niantic Inc., the San Francisco-based augmented reality platform developer known for creating Pokémon GO, announced a $300 million Series D funding round led by Coatue on November 22, 2021, achieving a post-money valuation of $9 billion USD. The company, which initially spun out of Google, is focused on building what it calls the 'real-world metaverse'—a vision where the real world is overlaid with digital creations, entertainment, and information. This funding round represented a significant milestone, more than doubling Niantic's valuation from $4 billion in its previous 2019 funding round. The capital was intended to support expansion of current games like Pokémon GO and Pikmin Bloom, development of new AR applications, and advancement of the Lightship AR developer platform for third-party creators. Niantic's core technology centers on a 3D map of the world and real-time mapping capabilities that enable location-based augmented reality experiences. The company reported that players had collectively walked 10.9 billion miles using its platform since the company's founding in 2010. Alongside the funding, Niantic launched Niantic Ventures, a $20 million fund designed to identify and support emerging AR development leaders globally, and was actively hiring for over 80 positions across product, engineering, and people teams to support its expansion into the metaverse and broader AR ecosystem. |
| Jan 2019 | Series C | IVP (lead); Nico Wittenborn; SMVentures; Battery Ventures; Samsung Ventures; Causeway Media Partners; CRV; AXiomatic | $245M | $4B | - |
| Nov 2017 | Series B | Spark Capital (lead); Brandtech Ventures; Javelin Venture Partners; Founders Fund; NetEase Capital; Meritech Capital Partners | $200M | $1.8B | Niantic, the creator of augmented reality games like Pokémon GO and Ingress, raised $200 million in its Series B funding round on November 25, 2017, led by Spark Capital with participation from Founders Fund, Meritech Capital Partners, Javelin Venture Partners, NetEase Capital, and others including You & Mr. Jones. The round aimed to grow its game portfolio and live operations. Prior to this, Niantic had spun out from Google in 2015 with investments from Google, Nintendo, and Pokémon Company totaling around $30-35 million. The 2017 Series B followed Niantic's explosive success with Pokémon GO, which drove massive user engagement in location-based AR gaming. This funding supported expansion of AR development and applications. Subsequent rounds included a $245 million Series C in January 2019 led by IVP with investors like aXiomatic, Battery Ventures, and Samsung Ventures, valuing the company at nearly $4 billion post-money, used for scaling AR technology, machine learning, and new games like Harry Potter: Wizards Unite. Niantic continued raising capital, with a Series D of $300 million in November 2021 led by Coatue, reaching a $9 billion valuation to build its Real-World Metaverse, invest in games, and expand the Lightship platform. Total funding across rounds exceeded $770 million by 2021. The company positions itself as a leader in AR platforms connecting digital and physical worlds, powering experiences for creators and gamers globally. |
| Feb 2016 | Series A | Alsop Louie Partners (lead); Brandtech Ventures; Scott Banister; Long Journey Ventures; Lucas Nealan | $5M | $155M | - |
| Oct 2015 | Series A | Nintendo; Pokémon; Alphabet | $20M | - | Niantic Inc raised $20 million in Series A funding on October 15, 2015 from Google, Nintendo, and The Pokémon Company, with an additional $10 million conditional on achieving undisclosed milestones. The company, which had spun out from Alphabet's Google in August 2015, was led by founder and CEO John Hanke, a former Google vice president who previously worked on location-based projects including Google Earth and Google Maps. Niantic was best known for its augmented reality mobile games Ingress and the then-upcoming Pokémon GO, both featuring location-based gameplay requiring players to move through their cities. The company stated it would use the capital to continue developing Pokémon GO, evolve and grow Ingress and its community, and build out its real-world gaming platform. Pokémon GO was scheduled to launch on mobile devices in 2016, with an optional Pokémon GO Plus wearable device also in development. |
Who has invested in Niantic?
24 investors have backed Niantic across its funding rounds, including Brandtech Ventures, Founders Fund, Battery Ventures, Spark Capital, Coatue and CRV.
Lead investors include Coatue, IVP, Spark Capital and Alsop Louie Partners.
Niantic Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 2 | Participant | Feb 2016 | |
 Los Angeles, CA | 1 | Participant | Oct 2015 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Nico Wittenborn | New York City, NY | 1 | Participant | Jan 2019 |
| New York City, NY | 1 | Participant | Jan 2019 | |
| Scott Banister | San Francisco, CA | 1 | Participant | Feb 2016 |
| San Francisco, CA | 1 | Lead | Jan 2019 | |
| New York City, NY | 1 | Participant | Nov 2021 | |
| San Francisco, CA | 1 | Lead | Nov 2017 | |
| San Francisco, CA | 1 | Participant | Feb 2016 | |
| Boston, MA | 1 | Participant | Jan 2019 | |
| San Francisco, CA | 1 | Lead | Feb 2016 | |
 South Korea | 1 | Participant | Jan 2019 | |
| Seattle, WA | 1 | Participant | Oct 2015 | |
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Start Free TrialAcquisitions by Niantic
Niantic has acquired 12 companies to date.
Last acquisition by Niantic was on April 5th 2022. Niantic acquired NZXR for undisclosed valuation.
Latest Acquisitions by Niantic
| Description | NZXR is a Wellington-based studio developing extended reality applications for gaming and enterprise. Comprising developers from Wētā Workshop and PikPok, it creates VR/AR experiences using Unity and Unreal Engine for Meta Quest and Apple Vision Pro. Projects include immersive training simulations for agriculture and tourism sectors in New Zealand. NZXR collaborates with universities on human-centered XR research. | 8th Wall is a San Francisco-headquartered platform for web-based augmented reality experiences deployable without apps. Its SLAM engine supports 6DoF tracking, surface detection, and lighting estimation on iOS, Android, and glasses. Used by brands like Nike and Google for interactive campaigns, it powers markerless AR since 2018. Acquired by Niantic in 2023. | Lowkey is a gaming capture platform that automatically records and edits highlight clips for players. Supporting titles such as League of Legends, VALORANT, and Among Us, it enables effortless sharing via Snapchat-style feeds to friends and communities. Available on Windows, the app handles full matches or key moments with AI-driven editing, appealing to casual gamers and esports professionals alike. Through lowkey.gg, it fosters social engagement with instant clip exports to Discord and Twitch. | Hoss is an enterprise software company headquartered in Mountain View, California. It delivers an API observability platform that monitors third-party API consumption for development teams. The solution offers full visibility into API dependencies, enforces data privacy controls through token management, and optimizes reliability with performance metrics and error analytics. Founded in 2019, Hoss integrates with data warehouses like Snowflake and BigQuery to catalog API schemas and usage patterns. Its tools enable teams to detect breaking changes, manage vendor risks, and ensure smooth integrations across cloud-native applications. | |
| HQ Country |  | | | | |
| HQ City | Wellington | - | San Francisco, CA | San Francisco, CA | |
| Deal Date | 5 Apr 2022 | 10 Mar 2022 | 1 Dec 2021 | 5 Oct 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Investments by Niantic
Niantic has invested in 2 companies to date.
Latest investment by Niantic was on June 1st 2022. Niantic invested in TRIPP in their $11M Series A round.
Latest Investments by Niantic
| Description | TRIPP is a Los Angeles-headquartered digital wellness platform specializing in virtual reality experiences that simulate psychedelic states for mental health benefits. Founded in 2017, it delivers neuroscience-backed sessions through VR headsets like Meta Quest and Pico, as well as augmented reality and mobile apps. The platform targets consumer households with subscription access to guided audio-visual trips developed in collaboration with researchers from the University of Wisconsin-Madison. TRIPP's content draws from studies on psilocybin and meditation, promoting relaxation and emotional processing. | DigiLens is a Sunnyvale-headquartered developer of holographic waveguide displays for extended reality applications across automotive, consumer electronics, and defense sectors. Founded in 2010, the company employs switchable grating technology with photopolymer materials for thin, lightweight AR glasses and heads-up displays. DigiLens partners with OEMs like Panasonic and Thales for avionics HUDs and supplies modules to military programs including F-35 helmet systems. Its low-cost manufacturing process enables mass production of XR devices viewable in bright sunlight with wide fields of view up to 50 degrees. |
| HQ Country | | |
| HQ City | Los Angeles, CA | San Francisco, CA |
| Deal Date | 1 Jun 2022 | 14 May 2019 |
| Round | Series A | Series C |
| Raised | $11M | $50M |
| Investors | Qualcomm; Amazon; HTC; Grit Capital Partners; BITKRAFT Ventures; Mayfield Fund | Samsung Ventures; Continental; Sony Innovation Fund; Diamond Edge Ventures; UDC Ventures |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
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Niantic Competitors
Niantic competitors include listed companies like Liberty Live Holdings, Kunlun, Giant Network Group and Square Enix, and private ones like Labs and BSE Global.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $382M | ($45M) | $8.9B | 25.4x | |
 China | Publicly listed | $1.2B | ($230M) | $8.3B | 5.7x | |
| Los Angeles, CA | Private | - | - | $10B | - | |
| China | Publicly listed | $753M | $308M | $7B | 5.0x | |
| Japan | Publicly listed | $1.9B | $362M | $7B | 2.7x | |
| New York City, NY | Private | - | - | $6B | - |
Niantic Public Comps
Niantic is still privately-owned, but its public comps include Liberty Live Holdings, Kunlun, Giant Network Group, Square Enix, Krafton, International Games System, CTS Eventim, Bilibili, Informa and NEXON.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $382M | ($45M) | 27.6x | 25.4x | (236.5x) | (732.7x) | |||
| $1.2B | ($230M) | 6.8x | 5.7x | (36.1x) | (111.2x) | |||
| $753M | $308M | 8.0x | 5.0x | 19.5x | 9.9x | |||
| $1.9B | $362M | 2.8x | 2.7x | 14.8x | 12.9x | |||
| $2.4B | $795M | 2.1x | 1.6x | 6.3x | 4.6x | |||
| $691M | $406M | 8.1x | 7.2x | 13.8x | 12.2x | |||
| $3.5B | $622M | 1.4x | 1.3x | 7.9x | 7.1x | |||
| $4.5B | $464M | 0.8x | 0.8x | 8.3x | 6.0x | |||
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Common questions about Niantic
| When was Niantic founded? | Niantic was founded in 2010. |
| Where is Niantic headquartered? | Niantic is headquartered in San Francisco, CA, United States. |
| Is Niantic publicly listed? | No, Niantic is a private, VC-backed company. |
| What is Niantic's valuation? | Niantic was last valued at $9B in its Series D in November 2021. |
| How much funding has Niantic raised? | Niantic has raised $770M across 5 funding rounds. |
| What was Niantic's last funding round? | Niantic's last funding round was a $300M Series D in November 2021, led by Coatue. |
| Who are Niantic's investors? | Niantic's investors include Brandtech Ventures, Nintendo, Nico Wittenborn, SMVentures, Scott Banister, IVP, ID8 Investments, Spark Capital, Long Journey Ventures, Battery Ventures and 14 others. |
| What is Niantic's revenue? | Niantic's latest recorded revenue is $672M (November 2021). |
| What is Niantic's revenue multiple? | Niantic's latest valuation implies a 13.4x revenue multiple ($9B valuation on $672M of revenue). |
| Which companies are comparable to Niantic? | Companies comparable to Niantic include Liberty Live Holdings, Kunlun, Labs, Giant Network Group, Square Enix and BSE Global. |
| How many companies has Niantic acquired? | Niantic has acquired 12 companies, including NZXR, 8th Wall, Lowkey, Hoss and Scaniverse. |
| What was the largest acquisition by Niantic? | The $50M acquisition of Escher Reality in February 2018 is the largest acquisition Niantic has made to date. |
| How many companies has Niantic invested in? | Niantic has invested in 2 companies, including TRIPP and DigiLens. |
| What was Niantic's last investment? | In June 2022, Niantic invested in TRIPP's $11M Series A alongside Qualcomm, Amazon, HTC and 3 other investors. |
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