×
You will be redirected back to your article in seconds

Mobile Games Maker Scopely Banks $60 Million With Valuation Over $600 Million

Scopely, the mobile game developer whose titles include a hit spinoff of “The Walking Dead,” announced $60 million in a Series C financing.

The latest round brings Scopely to $160 million raised to date, and comes less than a year after it pulled in $55 million. The L.A.-based company says it has a valuation over $600 million and is profitable, after growing revenue ninefold over the past nine quarters.

The funding round was led by Revolution Growth, the venture-capital firm headed by former AOL executives Steve Case, Donn Davis and Ted Leonsis. With the funding, Davis will join Scopely’s board. Additional investors in the round include Greenspring, Sands Capital Ventures, Cross Creek Advisors, and Pritzker Group Venture Capital.

Scopely said it will use the funds for strategic investments, commercial partnerships and acquisitions.

The funding “will enable us to expand the business through inorganic means while we continue to execute on our path of organic growth in parallel,” Walter Driver, CEO and co-founder of Scopely, said in a statement. “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.”

Scopely says its games have more than 125 million active players. “The Walking Dead: Road to Survival” role-playing game (pictured above) has been played by more than 40 million gamers since launching in April 2015 and has generated more than $100 million in annual revenue, according to Scopely. Its other games include “Wheel of Fortune Free Play” and “WWE Champions,” which was downloaded more than 10 million downloads in its first month of release.

Scopely’s other notable investors include Peter Chernin; Kobe Bryant; Jimmy Iovine, co-founder of Interscope Records and Beats Electronics; Dave Dorman, former CEO of AT&T; Terry Semel, former CEO of Yahoo and Warner Bros.; Jim Gianopulos, CEO of Paramount Pictures; and video-game publisher Take-Two Interactive.

Driver, a social-gaming entrepreneur, founded Scopely in 2011 along with former Applied Semantics co-founder Eytan Elbaz; Ankur Bulsara, former lead software developer on MySpace’s developer platform; and startup veteran Eric Futoran.

More Digital

  • Vaccination

    YouTube Yanks Ads From Anti-Vaccination Conspiracy Channels

    YouTube, under fire for facilitating the spread of conspiracy theories and other misinformation, said it will no longer serve ads on channels that espouse anti-vaccination rhetoric. The Google-owned video giant cited its advertising policy that bans “dangerous and harmful” content from eligibility in its monetization program. “We have strict policies that govern what videos we [...]

  • Evan Williams, Twitter founder (R) and

    Twitter Co-Founder Evan Williams Steps Down From Company’s Board

    Twitter co-founder Evan “Ev” Williams is stepping down from the company’s board, Twitter announced in a SEC filing Friday afternoon. Williams will depart from the board at the end of this month, according to the filing. “It’s been an incredible 13 years, and I’m proud of what Twitter has accomplished during my time with the [...]

  • Facebook Logo

    Facebook Shuts Down Controversial Ovano VPN App

    Responding to a continued backlash over its data collection practices, Facebook pulled the plug on its Ovano VPN app Friday. Ovano, which promised users an added level of privacy while using public Wifi hotspots, was used by Facebook for market research purposes. Facebook removed the app from the Google Play store Friday, and the company [...]

  • Smosh

    Smosh Acquired by Rhett & Link's Mythical Entertainment

    UPDATED: Smosh, the long-running YouTube comedy brand, has been acquired by Mythical Entertainment, the company formed by Rhett & Link, hosts of comedy show “Good Mythical Morning.” As first reported by Variety last week, Mythical emerged as the leading candidate to buy Smosh, which was left stranded after parent company Defy Media shut down without [...]

  • China Video Streaming Giant iQIYI Loses

    Chinese Video Giant iQIYI Loses $1.3 Billion in 2018

    Chinese video streaming firm iQIYI lost over $1.3 billion in 2018, as revenues and subscriber numbers ballooned. The deepening losses reflected ever higher spending on original content production. Announcing its first full-year financials since a March IPO that launched it onto the NASDAQ, iQIYI said that it lost $1.3 billion (RMB9.1 billion) last compared with [...]

  • Roku headquarters

    Roku Aims to Top $1 Billion in Revenue in 2019, Beats Holiday Quarter Earnings Expectations

    Roku wants to become a billion-dollar company in 2019, and invest more in its ongoing international expansion. The streaming-device maker told investors on Thursday that it expects to generate between $1 billion and $1.025 billion this year, and that international growth was one of its key investment areas for 2019. Roku made these announcements as [...]

More From Our Brands

Access exclusive content