? Series E Round
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California-based mobile game developer and publisher Scopely has raised $340m in Series E funding at a $3.3B valuation
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It is a 70%+ increase compared to $1.9B post-money valuation Scopely had in March 2020
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Multiple late-stage investors have joined the round:
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Wellington Management, NewView Capital, TSG Consumer Partners, CPP Investments, Greycroft, Baillie Gifford, Sands Capital, Revolution Growth, and Highland Capital Partners
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Funds managed by BlackRock, D1, Battery Ventures, Eldridge, Declaration Partners, and Moore Strategic Ventures
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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
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Scopely is an active strategic buyer with already 3 acquisitions announced this year, and probably more to come next year
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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
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In October 2020, Scopely acquired Spanish mobile game developer Genera Games, including its subsidiary studio Cenjoy
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In January 2020, the company acquired FoxNext Games. The valuation is rumored to be above $250m
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In April 2020, Scopely acquired PierPlay, the developer of the mobile word game Scrabble Go
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In 2019, the company has acquired Irish mobile game developer DIGIT Game Studios, creator of MMO/strategy game Star Trek Fleet Command
? Products
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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
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The games of the company have been downloaded more than 281 million times.
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In April 2020, the company saw a rapid increase in downloads, reaching about 9 million
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Most of the downloads are generated by Scrabble Go title, created by PierPlay (acquired)
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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.
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According to AppMagic, over the last twelve months (Sep’19 — Sep’20) Scopely demonstrated
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$543m+ in-app Net revenue
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61m+ downloads
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According to GamesBeat, Scopely will close the year with more than $900 million in revenue
SOURCES: TECHCRUNCH, GAMESBEAT