Scopely Tops Series D With $200 Million
|The Chernin Group CEO Peter Chernin.
Not long after announcing $200 million in Series D funding, mobile games studio Scopely has announced it has added a $200 million extension to the Series D, bringing the total to $400 million. Investment firm The Chernin Group (TCG) and media firm Advance provided the extension, which Scopely says comes “on the heels of a year of significant growth”. The Los Angeles-based company, which says it’s profitable, says it’ll use the additional funding to further support its acquisition and investment efforts. Scopely happens to be adopting acquisitions as a major way of expanding its game portfolio alongside developing its own titles.
The new extension included, Scopely has now raised north of $600 million in funding since its inception. Other of the game studio’s notable investors include BlackRock, Greycroft, Baillie Gifford, Steve Case’s Revolution, Beats co-founder Jimmy Iovine, Oculus co-founder Brendan Iribe and the late basketball star Kobe Bryant. Scopely is fresh off the acquisition of FoxNext Games, the game studio behind the popular game MARVEL Strike Force. The studio was acquired from Disney, which, in turn, happened to have gotten hold of it from its acquisition of 21st Century Fox. Scopely is also fresh off the launch of a new mobile game, Scrabble GO.
Scopely says it has had more than $1 billion in revenue since inception, a significant feat for a mobile games studio. Its revenue will likely be helped further by FoxNext, whose hit title MARVEL Strike Force brought in “more than $150 million in its first year”, according to a press release that announced its acquisition in January.