×
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

  • Amazon

    Amazon Music’s Free Tier Is More Advertising Play Than Spotify Killer, Analysts Say

    When news began to spread last week that Amazon Music’s long-anticipated free streaming tier was imminent, headlines emerged about its threat to Spotify and Apple Music, with some stories saying that Spotify’s stock price dropped in response to the news. But not only was today’s launch of the free tier basically a soft one — [...]

  • Gay Chorus Deep South

    Why Airbnb Produced Documentary 'Gay Chorus Deep South,' Its First-Ever Film (EXCLUSIVE)

    The latest player to hit the film-festival circuit may be a bit unexpected: Airbnb, the travel-accommodations booking marketplace, developed, financed and produced documentary film “Gay Chorus Deep South,” set to premiere at the 2019 Tribeca Film Festival on April 29. It’s the company’s very first feature film. Directed by David Charles Rodrigues, “Gay Chorus Deep [...]

  • Amazon

    Amazon Music Launches Free Streaming Tier, Through Alexa Only (for Now)

    Amazon Music today basically soft-launched its free streaming tier, in which U.S. customers of its Alexa voice assistant will have access to top Amazon Music playlists and thousands of stations, at no cost. The limited access that the new free service provides — it’s only available through Alexa, and when the listener requests a song, [...]

  • Ben Silbermann, Evan Sharp. Pinterest co-founder

    Pinterest Shares Up Close to 29% on IPO Day

    Shares of the social pinning service Pinterest closed at $24.45 — 28.6% above their IPO price — on the company’s first day at the New York Stock Exchange Thursday as investors were looking to get in on the latest tech listing. Pinterest’s shares opened at $23.75, 25% above the IPO pricing of $19 per share, [...]

  • Netflix Logo

    Netflix to Open Production Hub in New York City Encompassing 100,000 Square Feet

    Netflix plans to open a new production and office facility in Manhattan — which will provide up to $100 million in investments to New York City and result in hundreds of new jobs, according to New York State Gov. Andrew M. Cuomo. Netflix’s new corporate offices in the Big Apple will take up 100,000 square [...]

  • MoviePass card

    MoviePass Has Lost Over 90% of Its Subscribers in Less Than a Year (Report)

    MoviePass users apparently hit the exits en masse after it scaled back the number of movies users could see each month: The flailing cinema-subscription provider has seen its subscriber rolls plunge from a peak of more than 3 million to just 225,000 in under a year, according to a new report. The numbers were reported [...]

  • The Nashville, Tenn. downtown area and

    Nashville City Council Sides With Songwriters Against Streamers’ CRB Appeal

    Nashville city leaders have sided against the streaming services Amazon, Spotify, Google and SiriusXM/Pandora in the appeal of the Copyright Royalty Board’s decision that would give songwriters a pay raise. The Nashville Metro Council adopted the resolution as part of its consent agenda earlier this week, although the move is “purely symbolic” and the streamers [...]

More From Our Brands

Access exclusive content