×

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

  • Fubo Sports Network

    FuboTV Launches Free, Ad-Supported Streaming Sports Network

    FuboTV, one of the players duking it out in the competitive internet pay-TV arena, is dropping into the free streaming-video market with a network it wants to distribute as widely as possible — off its own platform. On Thursday, the company is soft-launching the Fubo Sports Network: a live, free-to-consumer TV network for U.S. sports [...]

  • BTS World

    BTS World Mobile Game From K-Pop Group Rockets to No. 1 Spot on App Charts Worldwide

    BTS, the biggest K-pop group in the world, now has the biggest app in the world. “BTS World,” a mobile simulation game that lets fans virtually become the South Korean pop stars’ manager, quickly rose to the top of Apple’s App Store charts in multiple countries just hours after its release on Wednesday, June 26. [...]

  • Discovery Names Andrew Georgiou Eurosport and

    Discovery Taps Andrew Georgiou as Eurosport and Sports Rights Boss

    Andrew Georgiou has been appointed president of Discovery-owned Eurosport. The sports channels and streaming service has been without a chief since Peter Hutton left for Facebook. Georgiou assumes a wider role than Hutton, running Eurosport as well as overseeing sports rights and marketing across Discovery. It has been moving aggressively into the sports sector, licensing [...]

  • Can a Studio Make Movies for

    Listen: Can a Studio Make Movies for VR?

    STX Entertainment is best known for movies like “The Upside” and “Ugly Dolls,” but it also has a division dedicated to creating virtual-reality movies like the recent action short “The Limit.” STXsurreal is working on over a dozen films in a variety of genres, according to its founders, Rick Rey (pictured, right) and Andy Vick. [...]

  • Kathryn Friedrich

    Condé Nast Entertainment Taps Ex-RYOT Studio Head Kathryn Friedrich for New Role

    Condé Nast Entertainment hired Kathryn Friedrich, a YouTube and Google alum who most recently headed Verizon’s RYOT Studio, to the newly created role of EVP, operations and general manager. Friedrich started in the new gig this week, reporting to Condé Nast Entertainment president Oren Katzeff, who joined the company last year from Tastemade. Based in [...]

More From Our Brands

Access exclusive content