Unity Technologies

Best known for the development of Unity, a licensed game engine used to create video games and other applications.

Categories

Technology  

#1025

Rank

$16.84B

MarketCap US

US United States

Country

Summary

Unity Technologies is a leading software company specializing in the development of powerful and versatile tools for creating interactive 2D and 3D content. Founded in 2004, Unity has revolutionized the game development industry by providing a user-friendly and accessible platform that enables developers of all skill levels to bring their creative visions to life.

Unity's flagship product, the Unity engine, has become the industry standard for game development, offering a comprehensive suite of features and functionalities that empower developers to build high-quality, immersive experiences across various platforms. From mobile devices and desktop computers to consoles and virtual reality, Unity supports more than 25 platforms, allowing developers to reach a wide audience.

In addition to its game development tools, Unity Technologies offers a range of services and solutions to support developers throughout the development process. This includes the Unity Asset Store, a marketplace where developers can find a vast selection of pre-built assets, scripts, and tools to enhance their projects. Unity also provides cloud-based services for multiplayer networking, analytics, monetization, and more, enabling developers to optimize their games and engage with their audience effectively.


History

Unity Technologies has a storied history marked by remarkable growth and groundbreaking advancements in the realm of game development and beyond. Founded as Over the Edge Entertainment in 2004 by visionaries David Helgason, Nicholas Francis, and Joachim Ante in Copenhagen, Denmark, the company embarked on a journey that would redefine the landscape of interactive content creation.

Initially venturing into game development with their inaugural release, GooBall, in 2005, the title failed to resonate commercially. However, the trio recognized the inherent value of the game development tools they had crafted and pivoted their focus towards creating an engine that would empower other developers. United by a mission to democratize game development, they aimed to break down barriers and make the creation of 2D and 3D interactive content accessible to a wider audience.

Recognition soon followed, with Unity being named the runner-up for Best Use of Mac OS X Graphics at the prestigious 2006 Apple Design Awards. As the mobile gaming industry gained momentum with the advent of the iPhone in 2007, Unity Technologies was at the forefront of innovation, becoming one of the first engine providers to offer comprehensive support for the platform. This strategic positioning granted them unrivalled dominance in the mobile game development arena for several years.

Continued expansion became a hallmark of Unity's journey, as it sought to extend its technological prowess across an array of platforms. By 2018, Unity's engine was utilized for game development and other immersive experiences across more than 25 platforms, spanning mobile devices, desktop computers, consoles, and virtual reality environments. Notably, Unity's versatility also enabled game deployment on the web, further amplifying its reach and impact.

In November 2010, Unity Technologies introduced the Unity Asset Store, an online marketplace that revolutionized collaboration and resource-sharing within the Unity community. This platform empowered developers to trade project assets, fostering a vibrant ecosystem of creativity and innovation.

The company's user base experienced meteoric growth, with a million registered developers by April 2012, of which 300,000 were active on a monthly basis. The industry took notice, as Unity emerged as the preferred choice for mobile game developers, with approximately 53% utilizing Unity's powerful suite of tools, as revealed by a 2012 survey conducted by Game Developer.

Unity Technologies solidified its market position through strategic acquisitions and partnerships. Notable milestones include the integration of Unity with Facebook's software development kit for games in 2013, facilitating advertising campaign tracking and seamless deep linking from social media posts to specific game elements. Additionally, Unity's acquisition of Helsinki-based mobile service provider Applifier in 2014 led to the birth of Unity Everyplay, a game replay sharing and community service that bolstered Unity's standing. Subsequent acquisitions included Playnomics, a data analysis platform for developers, and Tsugi, which evolved into Unity Cloud Build, both in 2014.

In October 2014, David Helgason, in a blog post, announced his decision to step down as CEO, with game company Electronic Arts' former CEO, John Riccitiello, assuming leadership. This transition allowed Unity Technologies to leverage Riccitiello's vast industry experience and steer the company towards continued growth and success.

The remarkable impact of Unity's technology became evident when Niantic released the global sensation Pokémon Go in 2016, built on the Unity engine. This groundbreaking success prompted several funding rounds that elevated Unity's valuation significantly. A $181 million funding round in July 2016 valued the company at approximately $1.5 billion, followed by a $400 million investment in May 2017 that propelled the valuation to $2.8 billion. In 2018, Unity's CEO confirmed a $145 million funding round, raising the valuation to approximately $3 billion.

Unity Technologies expanded its reach beyond gaming, exploring diverse industries such as film, television, automotive, and augmented reality (AR). Automotive manufacturers utilized Unity's virtual reality platform for design and virtual world car testing simulations. Collaboration with Google on ARCore in 2017 further solidified Unity's position as a pioneering force in the realm of augmented reality. Unity's collaboration with DeepMind, an Alphabet Inc. subsidiary, allowed the development of virtual world artificial intelligence through reinforced learning, harnessing Unity's software to train algorithms in "physics-realistic environments."

A series of strategic acquisitions followed suit. Unity Technologies acquired Canadian virtual cinematography company Digital Monarch Media in October 2018, bolstering its capabilities in creating high-quality assets for PC and console games. The acquisition of cross-platform voice and text chat provider Vivox in January 2019 added further strength to Unity's ecosystem, with Vivox's technology being utilized in popular titles such as Fortnite, PlayerUnknown's Battlegrounds, and League of Legends.

Unity Technologies continued its impressive growth trajectory, securing a $150 million Series E funding round in May 2019, increasing its valuation to $6 billion. In a bid to offer shareholders an exit opportunity, Unity announced a $525 million tender in July 2019, supported by leading investment firms such as D1 Capital Partners, CPP Investment Board, Light Street Capital, Sequoia Capital, and Silver Lake Partners.

Further strategic acquisitions followed, including game analytics company deltaDNA, live game management platform ChilliConnect, and 3D application streaming service Furioos creator Obvioos in 2019. Unity Technologies' acquisitions extended into the realm of AI-assisted material creation, with the purchase of Artomatix in the same year. Despite growing revenues, Unity also faced increasing losses, with $163.2 million reported in 2019.

Unity Technologies undertook a significant milestone in its journey by going public. In August 2020, the company announced its plans for an initial public offering (IPO), showcasing its impressive user base of 1.5 million monthly users and 15,000 new projects initiated daily. The IPO was completed on September 17, 2020, exceeding its target price and resulting in Unity Technologies trading as a public company on the New York Stock Exchange under the ticker symbol NYSE: U. The IPO valued the company at approximately $13.7 billion.

Unity's commitment to innovation remained unwavering, as evidenced by its subsequent acquisitions. In December 2020, Unity acquired Codice Software, the developer behind the distributed version control system Plastic SCM. The company continued to strengthen its portfolio by acquiring Finger Food Advanced Technology Group, Pixyz Software, RestAR, and Ziva Dynamics in subsequent years.

Unity Technologies remained at the forefront of cutting-edge technology, partnering with renowned companies such as NVIDIA, Snap Inc., Google, and Insomniac Games to further advance the possibilities of interactive experiences. Notably, the acquisition of ironSource in 2022 bolstered Unity's capabilities in mobile advertising and monetization, further cementing its position as a market leader.

In August 2022, AppLovin made a substantial unsolicited offer to acquire Unity Technologies for $17.54 billion. However, Unity's board rejected the offer, reaffirming their commitment to completing the acquisition of ironSource as planned.

Unity Technologies continues to thrive as a pioneer in the game development and software development industries, empowering developers and pushing the boundaries of innovation. With a rich history of groundbreaking advancements and strategic acquisitions, Unity remains poised to shape the future of interactive content creation and redefine the possibilities of the metaverse and beyond.


Mission

Unity Technologies is dedicated to empowering creators and developers by providing them with the most accessible and advanced tools and technologies for the creation of interactive content. Their mission is to democratize game development and foster innovation across industries, and enable everyone to create rich interactive content.


Vision

"Unity Technologies envisions a world where the creation of interactive content knows no boundaries. They strive to be the leading provider of real-time 3D development platforms and tools, revolutionizing how interactive experiences are built and consumed

Our vision is to empower creators to unleash their imagination, connect people through immersive experiences, and shape the future of digital entertainment, industries, and the metaverse. Through our commitment to innovation, inclusivity, and collaboration, we aim to inspire and enable the next generation of creators to reshape the world through interactive content."


Key Team

Clive Downie (Chief Marketing Officer)

Ralph Hauwert (Senior Vice President, Platforms)

Dr. Oliver Kirsebom (Senior Vice President, Unity Operate Solutions )

Tony Parisi (Head of AR/VR Advocacy)

Thomas Krogh-Jacobsen ( Vice President, Unity Create Solutions)

Dr. Jukka Häkkinen (Vice President, Unity Technologies Labs)

David Helgason (Co-founder, former CEO)

Nicholas Francis (Co-founder, former CTO)

Joachim Ante (Co-founder, former CTO)


Recognition and Awards
Technology & Engineering Emmy Award for the Unity real-time 3D development platform (2020). - Fast Company's Most Innovative Companies, ranking among the top 10 in the gaming category (2019). - Forbes Cloud 100 list, recognising Unity as one of the top private cloud companies in the world (2018). - The Game Awards: Unity-powered games have received multiple nominations and wins across various categories, including Best Game Direction, Best Art Direction, and Best Mobile Game. -BAFTA Games Awards: Unity games have been nominated and won awards in categories like Mobile Game, Game Innovation, and Artistic Achievement. - Deloitte's Technology Fast 500: Unity has consistently ranked among the fastest-growing technology companies in North America. - Bloomberg Businessweek's list of top 50 companies to watch: Unity was featured for its significant growth and impact on the gaming industry.

Products and Services

Unity Technologies offers a comprehensive range of products and services designed to empower creators and developers in the creation of interactive content across various platforms. These offerings provide the necessary tools, technologies, and solutions to bring immersive experiences to life.

  • Unity Engine: At the core of Unity Technologies' product portfolio is Unity Engine, a powerful and versatile real-time 3D development platform. The Unity Engine serves as the foundation for creating games, simulations, virtual reality (VR), augmented reality (AR), and other interactive experiences. It offers a user-friendly interface, a robust scripting system, and a vast array of features and functionalities to facilitate the development process.
  • Unity Editor: The Unity Editor is a comprehensive development environment that enables creators to design, build, and test their interactive content. It provides a visual interface for creating scenes, importing assets, implementing game logic, and fine-tuning the overall experience. With its intuitive workflows and customizable tools, the Unity Editor streamlines the development process and allows for efficient iteration and collaboration.
  • Unity Asset Store: The Unity Asset Store is a marketplace that offers a vast library of ready-to-use assets, including 3D models, textures, audio files, scripts, and more. Creators can browse and acquire these assets to accelerate their development process, saving time and effort. The Asset Store fosters a vibrant community of creators, encouraging collaboration and resource sharing.

Unity Services: Unity Technologies provides a range of services to enhance the development, deployment, and monetization of interactive content. These services include:

  • Unity Analytics: Unity Analytics enables developers to gain valuable insights into user behaviour, engagement, and performance. It allows for data-driven decision-making and optimization of content based on user feedback and metrics.
  • Unity Cloud Build: Unity Cloud Build is a cloud-based service that automates the build and testing process for multiple platforms. It allows developers to build, deploy, and iterate on their projects seamlessly, eliminating the need for complex setup and infrastructure.
  • Unity Multiplayer: Unity Multiplayer provides the infrastructure and tools for creating real-time multiplayer experiences. It simplifies the implementation of multiplayer functionality, including matchmaking, networking, and synchronization, enabling developers to create engaging multiplayer games and applications.
  • Unity Monetization: Unity Monetization offers developers various monetization options, including in-app purchases, ads, and other revenue-generation strategies. It provides seamless integration of monetization solutions within the Unity ecosystem, allowing developers to maximize their return on investment.
  • Unity Learn: Unity Learn is an extensive learning platform that provides tutorials, documentation, and online courses to help creators learn and master Unity technologies. It serves as a valuable resource for beginners and experienced developers alike, enabling them to continuously improve their skills and stay up to date with the latest industry trends.

References
Unity Technologies
Leadership team

Brett Bibby (Chief Product Officer)

Kim Jabal (Chief Financial Officer)

Tim McDonough (Senior Vice President, General Manager, Unity Create Solutions)

Danny Lange (enior Vice President, Unity Artificial Intelligence)

Julie Shumaker (Chief Marketing Officer)

Industries

Technology

Products/ Services
Unity Engine Unity Editor Unity Asset Store Unity Cloud Services Unity Collaborate Unity Simulation Unity Reflect Unity Forma
Number of Employees
1,000 - 20,000
Headquarters
San Francisco, California, United States
Established
2004
Company Type
Public Limited Company
Company Registration
148678
Revenue
Above - 1B
Traded as
U
Social Media

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Tue Apr 16 2024
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