AP Photo/Kin Cheung

Unity, a San Francisco-based VR/AR gaming engine founded in 2004, has raised $400 million in new funding led by Silver Lake. Around half of the deal is a secondary, which means that it will liquidity for early shareholders (primarily employees). The company is now valued at around $2.6 billion, and previously raised over $170 million from firms like DFJ Growth, Sequoia Capital, Thrive Capital and WestSummit Capital.

Why it matters: Beyond the fact that Unity powers Pokemon Go, which was the hottest thing on the planet (and in my house) at this time last year? Okay, how about because Unity claims that half of all new mobile games and two-thirds of all AR/VR content is now made in its environment? That basically means that Unity can sidestep the "hits problem" of gaming, and instead is able to ride the industry's more secular trends.

Bottom line: "Unity's plan is to democratize game development. It has done so by creating an engine that enables games to run on just about any platform, without huge costs related to porting the games to each new platform. That allows game developers to cut their costs and generate more revenues from more platforms. In that sense, Unity frees the developers from being beholden to platform owners, who often front the cash for big game development in exchange for exclusivity." -- Dean Takahashi, VentureBeat

Go deeper

Updated 26 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 p.m. ET: 31,201,975 — Total deaths: 963,068— Total recoveries: 21,356,412Map.
  2. U.S.: Total confirmed cases as of 11 p.m. ET: 6,833,931 — Total deaths: 199,815 — Total recoveries: 2,615,949 — Total tests: 95,841,281Map.
  3. Health: CDC says it mistakenly published guidance about COVID-19 spreading through air.
  4. Media: Conservative blogger who spread COVID-19 misinformation worked for Fauci's agency.
  5. Politics: House Democrats file legislation to fund government through Dec. 11.
  6. World: U.K. upgrades COVID alert level as Europe sees worrying rise in infections — "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.

Louisville police declare state of emergency as Breonna Taylor decision looms

A demonstrator holds up a sign of Breonna Taylor during a protest in Louisville, Kentucky. Photo: Brandon Bell/Getty Images

The Louisville police chief declared in a memo obtained by news outlets a "state of emergency" for the department on Monday to prepare for Kentucky Attorney General Daniel Cameron's expected announcement on the Breonna Taylor case.

Of note: Louisville has witnessed more than 115 days of protests over the police killing of Taylor, an unarmed Black woman, with calls for all the officers involved to be charged.

Sen. Cory Gardner on vacant Supreme Court seat: "I will vote to confirm"

Photo: Alex Wong/Getty Images

Sen. Cory Gardner (R-Colo.) will vote to confirm President Trump's nominee to replace the late Ruth Bader Ginsburg, he announced in a statement Monday.

Why it matters: The development is a win for President Trump and Senate Majority Leader Mitch McConnell (R-Ky.). It should mean Republicans are all but assured to have enough support to hold hearings for Trump's potential nominee.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!