LA-situated gaming studio Scopely raises $200M at a $1.7B valuation
Prerna Mahtani,
6 years ago
4 min read
Table of Contents
Introduction
The Los Angeles-situated mobile game development studio Scopely has enhanced into America’s latest unicorn.
This is all thanks to a $200 million investment, which considers the company at a whopping $1.7 billion.
Information About The Investment
Scopely stated it would use the money to maintain its strategy of developing and obtaining new games as it seems to continue its run of six connected mobile games that will earn $100 million or more in lifetime income.
The new investment reflects Scopely’ s milestone of gaining more than $1 billion in lifetime income.
Certainly, part of the idea for the financing is to quicken the pace of its additions and investments into new game development studios.
The unicorn gaming company has garnered increasingly larger rounds across the past three years on an almost yearly basis.
The company raised a $55 million round of funding in 2016, $60 million in 2017 and $100 million in 2018.
For investors, what creates the company compelling past its string of successful games is the technology program that undergirds its successful mobile gaming titles.
NewView is a growth-stage venture funds firm turned out of the multibillion-dollar investment firm NEA.
It led the most current $200 million round for Scopely.
Scopely is the firm’s initial significant investment in a gaming company and was part of a portfolio of investments that NewView obtained over when it turned off from NEA.
For Scopely, the newest capital mixture is just more money in the bank to fund in or obtain budding game studios and give them a way to the technology pile that has made Scopely so compelling.
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The Industry Changes
In the eight years following Scopely first launched, the gaming industry has been changed by the opportunities that survive in the mobile market.
Moreover, both Scopely and companies like Jam City have gained on the new platform. Games in the company’s collection include Looney Tunes World of Mayhem also Star Trek Fleet Command, designed with the recently obtained DIGIT Game Studios.
The company is raking in more than $400 million in the yearly revenue, and it was that increase that influenced NewView and investors like the Canadian Pension Plan Investment Board to invest capital as part of this current round.
Scopely has already created a few preferred minority stakes in gaming studios.
So with the new cash, they hope to roll up more autonomous game developers.
Conclusion
Scopely’ s remarkable growth into a $1.7 billion unicorn is a testament to its strategy of developing and acquiring successful mobile games. With a new $200 million investment, the company is poised to further enhance its portfolio and expand its reach in the gaming industry. The investment will not only support Scopely’ s growth but also fund its technology and acquisition strategies, helping it maintain its momentum in the competitive mobile gaming market. As the gaming industry continues to evolve, Scopely’ s focus on innovation and acquisition ensures it remains a major player in the field. For more updates and the latest tech news, keep reading iTMunch.
FAQs
- What is Scopely’ s latest valuation? Scopely’ s valuation has reached $1.7 billion following a $200 million investment round.
- How will Scopely use the $200 million investment? Scopely plans to use the funds to develop and acquire new games, with the goal of expanding its portfolio of successful mobile games that generate $100 million or more in lifetime income.
- What is Scopely’ s revenue? Scopely generates more than $400 million in annual revenue, thanks to its popular mobile games like Looney Tunes World of Mayhem and Star Trek Fleet Command.
- Who led Scopely’ s most recent investment round? The most recent $200 million round was led by NewView, a growth-stage venture fund spun out from NEA, along with the Canadian Pension Plan Investment Board.
- What is Scopely’ s strategy for growth? Scopely’ s strategy includes acquiring or investing in independent game development studios, as well as leveraging its successful technology platform to support and scale new games.
- How has Scopely evolved since its launch? Since its launch, Scopely has capitalized on the growing mobile gaming market, building a portfolio of popular games and growing its revenue to more than $400 million annually.
- What other companies are similar to Scopely? Companies like Jam City, which also focuses on mobile gaming, are similar to Scopely in terms of their business model and success in the mobile gaming industry.
- What are Scopely’ s future plans? With its new funding, Scopely plans to continue investing in or acquiring emerging game studios and expand its game portfolio further, leveraging technology to stay ahead in the mobile gaming market.
