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Scopely Has Raised $340m At $3.3B Valuation

LATER VENTURE | ANNOUNCEMENT DATE : 28 OCT 2020
WRITTEN BY | 28 Oct 2020
Scopely Has Raised $340m At $3.3B Valuation
LATER VENTURE
22 OCT 2020
Scopely Acquires Genera Games
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M&A

💵 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

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Scopely
  • Established in 2011

  • Headquarters — California, United States with offices in Spain, Ireland, U.K., and Japan

  • Team of 950 employees

  • Founded by Walter Driver, Ankur Bulsara, Eytan Elbaz and Eric Futoran

  • Mobile gaming developer and publisher