Scopely, a free-to-play interactive entertainment network, has raised USD60 million in a Series C financing led by Revolution Growth, which is helmed by former AOL executives, Steve Case, Donn Davis, and Ted Leonsis.
Revolution Growth Managing Partner Donn Davis will join Scopely’s Board; additional investors in the round include Greenspring Associates, Sands Capital Ventures, Cross Creek Advisors, and Pritzker Group Venture Capital. Scopely, which has grown its revenues by nine-fold over the past nine quarters, will use the funds for strategic investments, commercial partnerships and acquisitions.
“Closing less than 12 months after our Series B financing, Scopely’s new USD60M Series C financing is a great validation of the company’s momentum over the last year and because the company has already reached profitability this capital infusion will enable us to expand the business through inorganic means while we continue to execute on our path of organic growth in parallel,” says Walter Driver, CEO and co-founder of Scopely. “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.”
With a network of more than 125 million players, Scopely has built a technology platform to deliver mobile entertainment across different genres of games and is the partner of choice for IP holders to transform beloved brands into digital, interactive experiences. Scopely’s hit title The Walking Dead: Road to Survival alone has been played by more than 40 million people and generates nine-figure annual revenues; Wheel of Fortune Free Play players have solved more than a billion puzzles; and recent entrant WWE Champions has been a top grossing product that was downloaded more than 10 million times in its first month of release.
“Scopely has built a unique and powerful platform to successfully develop, market, and monetise free-to-play mobile games,” said Donn Davis. “Their platform uses data and analytics to systematically produce #1 games that are great to play for fans and top producers for its brand partners.”
