San Francisco-based augmented reality creator Niantic has raised US$245 million in Series C financing led by venture capital and growth equity firm IVP. Additional strategic investment came from aXiomatic Gaming, Battery Ventures, Causeway Media Partners, CRV and Samsung Ventures.

This cash influx brings Niantic’s valuation up to nearly US$4 billion, and the company plans to use the war chest to solidify its leadership position in AR game creation by investing in new capabilities, machine learning and its Niantic Real World Platform (pictured), which powers its current suite of games and will eventually be made widely available to developers.

The announcement builds on the ongoing popularity of Niantic’s Pokemon Go game, and growing anticipation for this year’s release of Harry Potter: Wizards Unite with WB Games.