Scopely (privately traded), the recently established mobile game development company who lifted off with the highly successful smartphone-game “The Walking Dead: Road to Survival”, has just announced that it has received $60 million in a Series C financing. In total, Scopely has now raised $160 million to date. The Series C financing was received less than a year after the company had received $55 million in a Series B financing.
This year’s Series C financing for Scopely was largely thanks to American investment firm Revolution Growth. With the funding, one of Revolution Growth’s executives, Donn Davis, will be joining Scopely’s board. Other notable investors during this Series C financing includes Greenspring, Sands Capital Ventures, Cross Creek Advisors, and Pritzker Group Venture Capital.
Scopely plans to use the funds for investments, partnerships, and acquisitions. Walter Driver, CEO and co-founder of Scopely, reaffirmed the company’s sentiments, stating that the funding will allow the company to expand through inorganic means while it continues to grow organically through new game developments. “The opportunity to work with the founding team of AOL is extremely exciting for us as they have a long history of operating at the intersection of technology and media,” Driver added.
With a valuation of over $600 million and revenue growing over nine times as high for the past nine quarters, traders should definitely get in on this technology investment if they can. As the company continues to expand, these numbers will surely grow. Scopely has noted that its mobile games has over 125 million active players, with its most famous “The Walking Dead: Road to Survival” role-playing game having more than 40 million players since its launch in April 2015. The spin-off game from the popular graphic novel and TV show The Walking Dead has accounted for more than $100 million in annual revenue, Scopely reported. Other games, such as “Wheel of Fortune Free Play” and “WWE Champion” has has more than 10 million downloads within the first month of release.
If these numbers still aren’t enough to convince you to look into this company and wait for it to become public, Scopely has had several notable investors including Peter Chernin, Kobe Bryant, co-founder of Interscope Records (traded privately) and Beats Electronics (traded privately) Jimmy Iovine, former CEO of Yahoo (NASDAQ:$YHOO) and Warner Bros (NYSE:$TWX) Terry Semel, former CEO of AT&T (NYSE:$T) Dave Dorman, and CEO of Paramount Pictures (traded privately) and Take-Two Interactive (NASDAQ:$TTWO) Jim Gianopulos.
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