? Series E Round
California-based mobile game developer and publisher Scopely has raised $340m in Series E funding at a $3.3B valuation
It is a 70%+ increase compared to $1.9B post-money valuation Scopely had in March 2020
Multiple late-stage investors have joined the round:
Wellington Management, NewView Capital, TSG Consumer Partners, CPP Investments, Greycroft, Baillie Gifford, Sands Capital, Revolution Growth, and Highland Capital Partners
Funds managed by BlackRock, D1, Battery Ventures, Eldridge, Declaration Partners, and Moore Strategic Ventures
Scopely is already a widely profitable business, thus a major part of the financing will go for the acquisition of mobile gaming studios to expand into new product categories
Scopely is an active strategic buyer with already 3 acquisitions announced this year, and probably more to come next year
Given a great list of traditional pre-IPO funds joining Scopely in the recent round, big product launch plans for 2021, and strong M&A activity, we expect the IPO in 2021/2022 as the most probable exit plan for the investors
? Latest Rounds
Up to date, Scopely has raised around $1B in funding, including the current round
? Recent M&As
In October 2020, Scopely acquired Spanish mobile game developer Genera Games, including its subsidiary studio Cenjoy
In January 2020, the company acquired FoxNext Games. The valuation is rumored to be above $250m
In April 2020, Scopely acquired PierPlay, the developer of the mobile word game Scrabble Go
In 2019, the company has acquired Irish mobile game developer DIGIT Game Studios, creator of MMO/strategy game Star Trek Fleet Command
? Products
Scopely is a mobile game developer and publisher, which library of games includes MARVEL Strike Force, Star Trek Fleet Command, The Walking Dead: Road to Survival, WWE Champions, Looney Tunes World of Mayhem, Scrabble GO, Yahtzee With Buddies, and others
The games of the company have been downloaded more than 281 million times.
In April 2020, the company saw a rapid increase in downloads, reaching about 9 million
Most of the downloads are generated by Scrabble Go title, created by PierPlay (acquired)
This is a great result for Scopely, but this is still less than the company’s record of 10 million downloads in December 2018, caused by the successful launch of Looney Tunes game.
According to AppMagic, over the last twelve months (Sep’19 — Sep’20) Scopely demonstrated
$543m+ in-app Net revenue
61m+ downloads
According to GamesBeat, Scopely will close the year with more than $900 million in revenue
SOURCES: TECHCRUNCH, GAMESBEAT
