Niantic, the mobile augmented reality (AR) game developer behind Pokémon Go and the forthcoming Harry Potter: Wizards Unite, has confirmed that it is raising $245m in its latest funding round, bringing its post-round valuation to almost $4bn – as reported earlier this month.

The Series C financing is being led by IVP, with additional investment from aXiomatic Gaming, Battery Ventures, Causeway Media Partners, CRV, and Samsung Ventures. Niantic says it will using the funding to invest in advanced AR capabilities, machine learning, its Real World Platform, and to continue broadening its game releases.

“We continue to be focused on delivering on our mission of bringing people together through experiences that marry advanced technology and the real world” said John Hanke, Niantic co-founder and CEO. “This funding round adds financial and strategic support as we focus on doubling down on that mission with our platform and building upon the popularity we’ve established in recent years as we grow our portfolio and offerings.”