Unity’s CFO resigned, and the company raised $145 million

John Riccitiello, CEO of
Unity Technologies, which is looking for a new chief financial
officer.
Steve Jennings/Getty Images
for TechCrunch

• Mike Foley, the chief financial officer of Unity
  Technologies, has resigned from the company.
• Unity didn’t say why he left, but said it is looking for his
  replacement.
• His departure came soon after Unity raised $145 million in
  new funding.

The chief financial officer of Unity Technologies, whose software
tools are used to make games and augmented-reality apps, has left
the company, Business Insider has learned.

Unity did not offer a reason for his departure, but in an email
sent to company employees in June announcing it, company CEO John
Riccitiello said it was “friendly and the decision mutual.”

“I want to sincerely thank Mike for his many contributions to
Unity,” Riccitiello said in the email. He continued: “I will
certainly miss him.”

Mike Foley’s LinkedIn
page, which still lists him as Unity’s chief financial
officer.
Mike
Foley/LinkedIn

Unity spokeswoman Amanda Taggart confirmed Foley’s resignation
and Riccitiello’s letter. 

“We’re actively looking for a CFO replacement and have some great
candidates in the mix,” she said in an email.

Foley’s departure came soon after the company quietly raised some
$145 million in new funding. That funding, which the company
closed in June, according to Crunchbase, was part of the
company’s series D round that it began raising last year. It
initially raised $250 million as part of that round in May 2017,
according to Crunchbase.

In total Unity, whose tools were used to make the popular
“Pokémon Go” game, has raised some $601.5 million. In an
interview this week with Business Insider, Riccitiello declined
to say whether the company is profitable or whether it expects to
raise additional funds in the private market on top of the money
it raised in June. He also declined to give any timeline for a
potential public offering.

“We’re thinking of giving serious thought to questions around an
IPO and if and when, but saying that we will and putting a time
frame on it is not something that guys like me do lightly,” he
said.