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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.

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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.

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