Niantic worth Nearly $4 Billion and is in the Black

The developer of the game Pokemon Go, Niantic, has announced that it has raised some cash for operations to the tune of $245 million. The deal values the company at nearly $4 billion. Niantic CEO John Hanke says that the company is cash flow positive, but the new round of funding will help it “bunker down.”

New backers in the round of funding were Samsung and Axiomatic Games. The company plans to invest in the Real World Platform to license its tech to other developers. Hanke believes that Niantic can be a gaming studio and developer of tools.

Pokemon Go is the flagship game for the company and has generated over $2 billion in revenue since the game launched. The company plans to invest more in real-world events for players reports Business Insider.

Niantic is working on a new game called Harry Potter: Wizards Unite. The company is also eyeing an IPO down the road.