DeltaDNA

The opportunity: Par Equity was attracted by deltaDNA’s novel and highly skilled approach to improving revenue for games publishers on their freemium titles within the burgeoning mobile games development market.  Another attraction was the combined experience of the Company’s management team in the gaming and data mining industries.  Par Equity made its initial investment in deltaDNA in July 2013 and supported the business in 3 follow-on investment rounds.

The outcome: On initial investment, we appointed an Investor Network member to the board with a strong background in customer analytics, advertising technology and gaming, with Paul Atkinson (Par Equity Partner) as board observer. In the first 2-3 years, the company struggled to find its product market fit, mostly because it was too early to the market. However, with our guidance and continued financial support, the company kept its focus and eventually converted customers into significant contract wins. Highly profitable, the company was acquired by Unity Technologies in 2019. The provided a headline price of 5.0x money, with further potential uplift held in Unity Technologies stock.

What they said: Mark Robinson, CEO, deltaDNA, said: “Our first-player philosophy is the basis for the business, but without the consistent belief and backing of our investors, deltaDNA would have remained an idea. Our investors’ support has allowed us to turn that idea into a cutting-edge business with unique technology. The future is hugely exciting, but only because of the journey and people that got us into this position.