Startups Venture

Mobile Games Company Scopely Boasts Of ‘Significantly Profitable Business’ As It Raises $340M

Mobile gaming giant Scopely said Wednesday that it has raised $340 million in a Series E funding round. The latest round is widely expected to be its last venture funding before the company—which had a post-money valuation of $1.9 billion following an extension of its Series D fundraising last year—heads to the public markets.

Scopely co-CEO Walter Driver said in a statement that the company has a “significantly profitable business with a strong balance sheet.” 

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Investors in the Los Angeles-based company’s latest round include Wellington Management, NewView Capital, TSG Consumer Partners and Canada Pension Plan Investment Board, as well as funds managed by BlackRock, D1, Battery Ventures, Eldridge, Declaration Partners and Moore Strategic Ventures. Also participating in the round were Greycroft, Baillie Gifford, Sands Capital, Revolution Growth and Highland Capital Partners

Scopely said it will use the latest funding infusion to expand its mobile gaming portfolio, including through mergers and acquisitions. Earlier this year, Scopely acquired FoxNext Games LA and its Marvel Strike Force game from Disney for a reported $250 million.

“While many in the industry focus on one hit game or one specific genre, we’ve witnessed how Scopely has broken the mold by replicating success time and time again across genres,” Ravi Viswanathan, managing partner of NewView Capital, said in a statement. “Scopely has proven itself as an acquirer of choice for the world’s most talented game studios—quickly demonstrating its ability to add massive value through its tech platform and powerful publishing infrastructure. Across the board, Scopely’s game-making capabilities have enabled the company to build a business with industry-leading metrics, scaling quickly on both the top and bottom line. They are one of the best investments in the gaming sector, and this financing provides them with more ammunition to maintain their momentum.”

Scopeley co-CEOs Javier Ferreira (left) and Walter Driver.

In September, Scopeley furthered its partnership with ViacomCBS to expand its Star Trek Fleet Command mobile game franchise. The company said its newest title, Scrabble GO, which launched globally in March, has since become the most-downloaded word game in the world. 

The company said it now has about 950 employees across offices and studios in the United States, Spain, Ireland, the United Kingdom and Japan.

“We intend to use our significant resources and this new inflow of capital to partner with like minded teams and creators who want to shape the future of ‘play’ and, together, continue to build a unique company in the gaming space,” Scopely co-CEO Javier Ferreira said in a statement announcing the Series E fundraising. 

Photo: Scopely’s Scrabble GO mobile game. [Courtesy of Scopely.]

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