29 Oct Scopely Raises $200M in Strategic Financing to Expand Portfolio Through Acquisitions and Investments
Financing led by NewView Capital with participation from CPPIB, Baillie Gifford and returning investors Greycroft Partners, Revolution Growth and Sands Capital Ventures
LOS ANGELES–(BUSINESS WIRE)–Scopely, a leading company in the fast-growing mobile games space, today announced a $200 million Series D financing round led by NewView Capital, with participation from Canada Pension Plan Investment Board (CPPIB) and Baillie Gifford, among others, along with existing investors, including Greycroft Partners, Revolution Growth and Sands Capital Ventures. As a profitable and growing business, Scopely will use this strategic financing to accelerate the company’s M&A and investment strategy, expanding its already diverse portfolio of games across new genres and IP.
The investment round follows the achievement of more than $1 billion in lifetime revenue this past summer alongside a number of recent milestones that have more than doubled Scopely’s valuation in just one year. At the end of 2018, the company added two new games to its highly diverse portfolio Looney Tunes™ World of Mayhem and Star Trek™ Fleet Command, which was created with the recently acquired DIGIT Game Studios and is now Scopely’s fastest-growing title ever.
“With our business continuing to scale and the durability of our flagship properties, we are more bullish than ever on further expanding our portfolio through M&A. This funding round adds the financial support to pursue large-scale acquisition opportunities,” said Walter Driver, Scopely Co-CEO. Javier Ferreira, Scopely Co-CEO added, “The continued interest in our business is a great validation of both our momentum this past year and the fundamental strength of Scopely. We plan to continue to create and deliver the very best game experiences that are an important part of people’s lives – now on an even greater scale.”
Mobile gaming is now the biggest and fastest-growing category in interactive entertainment, generating more than the worldwide box office. And, as one of the fastest-growing mobile gaming publishers in North America, Scopely has been a rising force in the interactive entertainment market, consistently delivering top-grossing franchises across multiple genre categories.
“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,” said Ravi Viswanathan, Managing Partner of NewView Capital. “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.”
Greycroft Partner Mark Terbeek added, “We’ve been longtime supporters of Scopely since our initial seed investment and we continue to be incredibly impressed by their momentum. Scopely has solidified their role as one of the preeminent free-to-play games companies and we are thrilled to increase our participation in the business.”
Scopely creates, publishes and live operates mobile products for worldwide audiences – delivering digital, directed-by-consumer experiences of both original and beloved entertainment brands.
Scopely is a global interactive entertainment and mobile games company, home to many top-grossing, award-winning franchises including Star Trek™ Fleet Command, Looney Tunes™ World of Mayhem, WWE Champions 2019, The Walking Dead: Road To Survival™, YAHTZEE® With Buddies and Wheel of Fortune®: Free Play, among others. Scopely creates immersive games that empower a directed-by-consumer experience. Founded in 2011, Scopely is fueled by a world-class team and a proprietary technology platform that supports one of the most diversified portfolios in the West. Recognized in Fast Company’s ‘World’s Most Innovative Companies’ and #2 on Deloitte’s ‘Technology Fast 500’ as one of the fastest-growing companies in North America, Scopely has achieved more than $1 billion in lifetime revenue by creating long-lasting game experiences. Scopely has global operations in Los Angeles, Barcelona, Tokyo and Dublin (DIGIT Games Studios), with additional studios in seven countries across four continents. For more information, visit www.scopely.com.
About NewView Capital
NewView Capital is a venture firm based in Burlingame, California. In 2018, NewView Capital spun out of New Enterprise Associates (NEA) and has developed a new model in venture capital to drive sustainable growth for entrepreneurs, venture capital firms, and limited partners in this changing venture landscape. For more information, visit www.newviewcap.com.