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Mobile-Games Company Scopely Raises $200 Million From Chernin Group, Advance

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Scopely, a mobile-games developer, introduced an extra $200 million as a part of its Collection D funding spherical from Advance, whose holdings embrace Condé Nast, and Peter Chernin’s The Chernin Group (TCG).

The brand new funding doubles the dimensions of the unique $200 million Collection D spherical Scopely introduced final fall and brings the corporate to over $650 million raised up to now. The upsized spherical brings Scopely’s Collection D post-money valuation to $1.9 billion.

Scopely introduced the extra financing, which was accomplished earlier in 2020, saying that the spherical was disclosed by way of the FTC following regulatory approval this week. “Whereas underneath regular circumstances we’d have a good time this milestone broadly, our ideas are targeted on the well-being of our staff, their households, our gamers and all of our communities,” Scopely co-CEOs Walter Driver and Javier Ferreira stated in an announcement.

Scopely stated it plans to make use of the brand new funding for extra acquisitions and investments. In January, it acquired FoxNext Video games, whose titles embrace “Marvel Strike Drive,” from Disney, which had picked up the studio by way of the acquisition of 20th Century Fox. Scopely plans to promote FoxNext Video games’ Chilly Iron Studios, which is creating PC and console video games, because it diverges from Scopely’s cell focus.

“The FoxNext Video games acquisition bolstered our dedication to M&A, and the chance to associate with Advance and TCG was a welcome addition to additional assist our technique,” Ferreira stated in a ready assertion.

COPYRIGHT_BP: Published on https://bingepost.com/mobile-games-company-scopely-raises-200-million-from-chernin-group-advance/66988/ by Cecilia Jones on 2020-03-19T16:33:40.000Z

Culver Metropolis, Calif.-based Scopely says it has generated greater than $1 billion in lifetime income. The corporate’s top-grossing video games embrace “Star Trek Fleet Command” (created by Dublin-based DIGIT Sport Studios, which Scopely purchased final yr), “Looney Tunes World of Mayhem,” “WWE Champions 2019,” “The Strolling Lifeless: Highway To Survival,” “Yahtzee With Buddies” and “Wheel of Fortune: Free Play.”

TCG beforehand participated in Scopely’s seed and Collection A rounds. The corporate final fall closed an inaugural fund to put money into client and digital media companies with over $700 million of commitments from buyers.

“The Scopely group has outperformed expectations persistently for the 9 years now we have been an investor,” Jesse Jacobs, co-founder and associate at TCG, stated in an announcement. “As the normal media {industry} continues to undergo unprecedented change, we consider that Scopely has all of the elements for large success—publicity to video games (the fastest-growing sector in media), a scalable and sturdy expertise platform, a diversified set of well-known IP, a beautiful financial profile, and a group hyper-focused on execution and long-term success.”

Janine Shelffo, Advance’s chief technique and improvement officer, commented, “Advance has carefully adopted the expansion and transformation of the gaming {industry} and recognized Scopely as a rising power. We’re deeply impressed with its industry-leading expertise platform and analytics functionality, which it has leveraged to create a various portfolio of persistently profitable video games.”

With the newest funding, an Advance government will be part of Scopely’s board of administrators and a TCG consultant will be part of as a board observer.

Pictured above (l. to r.): Scopely chief income officer Tim O’Brien, chairman/co-CEO Walter Driver, co-CEO Javier Ferreira, CTO Ankur Bulsara

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About The Authors

Cecilia Jones

Cecilia Jones - Cecilia Jones loves to write about movies, music, and the most popular and exciting news.

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