Fast Growing Leader in Mobile Entertainment Looks to Add to Roster, International Operations
Scopely, the free-to-play interactive entertainment network, has raised $60 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 $60M 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,” commented 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 Survivalalone 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 Championshas 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 monetize 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.”
About Revolution Growth
Revolution Growth invests in companies that can change the world. Its mission is to build disruptive, innovative businesses that offer consumers more choice, convenience, and control in their lives. By taking a long-term approach and developing strong partnerships with entrepreneurs and management teams, Revolution Growth brings a unique strategy and passion to investing in and building significant companies. For more information, visit www.revolution.com/growth.
About Greenspring Associates
Established in 2000, Greenspring Associates provides venture capital solutions to a diverse group of institutions and individuals worldwide. Through a synergistic platform, Greenspring Associates invests in established and emerging fund managers, in expansion stage companies and in secondary investments in venture capital funds and companies. Greenspring Associates currently manages over $5.2 billion in assets across multiple strategies. For more information on Greenspring Associates, please visit www.greenspringassociates.com.
About Cross Creek Advisors
Cross Creek Advisors manages private venture investments in best-of-breed public companies of the future and select venture capital funds. Cross Creek is advised by global public investment managers and is a registered investment advisor. More information is located at www.crosscreekadvisors.com.
About Pritzker Group
Pritzker Group Venture Capital helps entrepreneurs build market-leading technology companies at every stage of their growth. Since its founding in 1996, the firm has worked side-by-side with entrepreneurs at more than 150 companies, building partnerships based on trust and integrity. The firm’s proprietary capital structure allows for tremendous flexibility, and its experienced team of investment professionals and entrepreneurs offers companies a vast network of strategic relationships and guidance. Successful exits in recent years include Viv (acquired by Samsung), Dollar Shave Club (acquired by Unilever), Fleetmatics (NYSE: FLTX), SinglePlatform (acquired by Constant Contact), Zinch (acquired by Chegg), Playdom (acquired by Disney), LeftHand Networks (acquired by Hewlett-Packard (NYSE: HPQ), TicketsNow (acquired by Ticketmaster (NASDAQ: TKTM), and Cleversafe (acquired by IBM). For more information, visit pritzkergroup.com.
About Sands Capital Ventures
Sands Capital Ventures is a venture capital firm in the Washington, D.C.- area, partnering with transformative and innovative businesses in a concentrated fashion with specific focus on technology, life sciences, and global consumer industries.
Scopely is the leading free-to-play interactive entertainment network. With a network of more than 125 million users and nine consecutive #1 titles including Walking Dead: Road To Survival, YAHTZEE! With Buddies, and Wheel of Fortune Free Play, Scopely has built the central monetization and distribution platform to publish genre-defining hit games for casual and core gamers, working with the some of the best development partners in the world. Scopely’s success is fueled by market leading skills in game design, live services, marketing, analytics, business development, ads and more from top gaming and entertainment talent. In July 2016, Scopely closed a Series B funding round of $55 million to scale the business and execute on the company’s catalog of mobile game titles across original and globally celebrated entertainment properties. In December 2015, Deloitte named Scopely the #2 fastest-growing technology company in North America. To learn more, please visit www.scopely.com.