Mobile Gaming Unicorn Scopely Adds $200 Million in Series D Funding
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Scopely, the Culver City-based mobile games unicorn, confirmed Wednesday it has raised an additional $200 million in Series D funding, doubling the total round to $400M. The capital comes from Advance, a private family-owned business that invests in a broad range of media and technology companies and The Chernin Group, a consumer-focused investment firm.
"The FoxNext Games acquisition earlier this year further reinforced our commitment to M&A, and the opportunity to partner with these longtime media experts was a welcome addition to further support our strategy, Javier Ferreira, Scopely co-CEO, said in a statement. "With these key partners, we will be able to continue to pursue an even larger and more diverse slate of immersive, dynamic game experiences than we have today. In a time where interactive, social connection and entertainment is more important than ever, we remain committed to delivering rewarding games for all players to enjoy."
The additional financing has been in the works for several months – long before the novel coronavirus was a major concern – and was completed earlier this year. Regulators approved the deal this week.
As a maker of mobile games, Scopely would seem to be well-positioned for the social distancing era, but the company has stopped short of making any such pronouncements, preferring to go with a more restrained tone.
"While under normal circumstances we would celebrate this milestone broadly, our thoughts are focused on the wellbeing of our employees, their families, our players and all of our communities," Ferreira and co-CEO Walter Driver wrote.
An Advance representative will join Scopely's Board of Directors while a TCG representative will now serve as a Board Observer. UBS Investment Bank served as exclusive financial advisor to Advance and Paul Hastings LLP served as its legal advisor.
Founded in 2011, Scopely's mobile game franchise now includes Scrabble® GO, MARVEL Strike Force, Star Trek™ Fleet Command, Looney Tunes™ World of Mayhem, WWE Champions, The Walking Dead: Road To Survival™, YAHTZEE® With Buddies and Wheel of Fortune®: Free Play.
Scopely is currently valued at $1.7 billion, according to Pitchbook data, and has 800 employees.
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Coronavirus Updates: Mercy Hospital Ship Arrives in L.A., Gates Warns About COVID-19 Fight, SMMUSD Closes Indefinitely
Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.
- Coronavirus cases surge in L.A. County, 5 deaths reported
- Navy hospital ship Mercy enters the Port of Los Angeles
- Bill Gates warns there's "no middle ground" in coronavirus fight
- Santa Monica-Malibu Unified School District tells parents it will remain closed indefinitely
The novel coronavirus may have forced people into physical isolation, but it has not stopped people from trying to romantically connect with others. It appears, in fact, that love in the time of COVID-19 is virtually booming.
That's according to data provided by online dating app Tinder. The West Hollywood-based company says that starting mid-March -- as the numbers of those infected with the novel virus began to climb and many people were ordered to stay home -- daily messages were up 10-15% compared to the week prior in the U.S.