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With the latest fundraising, Scopely will make the capital infusion in new emerging gaming studios while giving them access to its technology stack.
Scopely, the Lon Angeles-based mobile game development platform has recently raised $200 million in the Series D funding round. Until now, the free-to-play mobile-games publisher $458 million in total. With the latest fundraising, Scopley’s valuation has hit a massive $1.7 billion.
The Series D funding round was led by NewView Capital, along with participation from the Canada Pension Plan Investment Board (CPPIB), investment firm BlackRock, and Scottish asset management firm Baillie Gifford. Additionally, existing investors like Revolution Growth, Sands Capital Ventures, and Greycroft Partners contributed to the round.
Scopely said that the raised capital will go towards the company’s existing plans for acquiring and developing new games. The company plans to continue running its six mobile games which have generated over 100 plus million dollars in lifetime revenue. Furthermore, it also plans to set up its investment activity and M&A while venturing into new genres as well as acquiring intellectual property. Speaking to TechCrunch, Scopely chief executive Walter Driver said:
“The barrier to entry from independent studios is to find product-market fit. Increasingly, it’s helpful for them to have publishing capabilities that are more global in nature and more scaled.”
Driver also added that Scopely will focus on capital infusion in acquiring other emerging gaming studios.
“Our technology platform is about optimizing free digital experiences for the largest amount of players possible. We’re primarily focused on finding the most passionate and talented game developers that want to specialize in making the kind of game design and might have the kind of specialized expertise that we admire,” explained he.
The company’s co-CEO Javier Ferreira also said that Scopely is also looking for fresh investments in companies “that have demonstrated success in the marketplace” and “can benefit from our expertise.” “Now we are in a position to really go after companies and studios that can have an impact on what we’re doing. We are looking for transformational opportunities as well as smaller companies,” he added.
With its core focus on mobile-phone games, Scopely will focus on experiences that can work on multiple platforms. Ferreira stressed that this latest funding won’t be just for operating purposes. “This is about making strategic bets in the game space,” he said.
“Scopely is emblematic of the rise of interactive entertainment and we have seen firsthand the team’s ability to repeatedly and successfully launch and sustain mobile products, which are complex live businesses. Scopely’s technology platform coupled with their strategic partnerships and track record are unmatched in the Western world and we are thrilled to deepen our relationship to support their next phase of growth,” NewView Capital’s Ravi Viswanathan said in a statement to Variety.