Edge, Par Equity et al. exit DeltaDNA

Katharine Hidalgo
23 September 2019

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Edge Investments, Par Equity, STV Group and Scottish Enterprise have sold their stakes in videogame marketing consultancy DeltaDNA to Unity Technologies.

DeltaDNA was an Edge Performance VCT portfolio company and part of the fund's evergreen H-share portfolio, which has total assets of £6m.

As of 28 February 2019, the value of the company's stake has increased from £1m upon purchase to £1.48m, according to the fund's 2018 annual report and financial statements.

Throughout Edge's holding period, the company has expanded its sales and marketing capabilities in the US and Europe. A spokesperson for the company told Unquote that it was EBITDA positive. Edge will realise a many-fold multiple on its investment, according to a statement.

Unity, which is a Silver Lake portfolio company, is based in San Francisco and develops a real-time 3D design platform.

DeltaDNA will continue to act as a separate entity following the transacation and plans to increase its headcount both in its development and sales teams. The current management team will stay on with the company.

Previous funding
In 2013, STV and Par Equity led a $1.3m series-A funding round as part of a planned $3m round. Scottish Enterprise committed $612,000 via the Scottish Investment Bank's Scottish Co-investment Fund.

In 2014, Edge Performance VCT led a $3m funding round with participation from all existing investors.

Edge invested again in the company in 2015 to support its growth.

Company
Founded in 2011 and based in Edinburgh, DeltaDNA provides games developers and publishers with analytics and an engagement platform for the commercialisation of videogames. The company employs 35 people, according to LinkedIn.

People
Edge Investments – David Glick (CEO); Steve Carle (chief investment officer, Edge Performance VCT).
Unity Technologies – Ingrid Lestiyo (general manager).
DeltaDNA – Tim Christian (chairman).