SCOPELY ADDS $200M IN STRATEGIC FINANCING FROM ADVANCE & THE CHERNIN GROUP, BRINGING SERIES D TO $400M
March 19, 2020 -- Scopely, a leading company in the fast-growing mobile games space, today announced an additional $200M in Series D funding from Advance, a private family-owned business that invests in a broad range of media and technology companies, and The Chernin Group (TCG), a consumer-focused investment firm, bringing total funding for the round to $400M.
The additional Series D funding comes on the heels of a year of significant growth for Scopely, the recent acquisition of FoxNext Games and its highly successful game MARVEL Strike Force, and the launch of Scrabble® GO. As a profitable business, Scopely plans to use the additional capital to further support the company’s M&A and investment strategy of expanding its portfolio of games across new genres and IP.
“When we first announced our Series D funding late last year, a number of discussions with strategic partners who share our vision for the future of interactive entertainment were ongoing,” said Walter Driver, Scopely Co-Founder & Co-CEO. Javier Ferreira, Scopely Co-CEO added, “The FoxNext Games acquisition reinforced our commitment to M&A, and the opportunity to partner with Advance and TCG was a welcome addition to further support our strategy.”
Janine Shelffo, Chief Strategy & Development Officer at Advance shared, “Advance has closely followed the growth and transformation of the gaming industry and identified Scopely as a rising force. We are deeply impressed with its industry-leading technology platform and analytics capability, which it has leveraged to create a diverse portfolio of consistently successful games. We’re delighted to partner with Walter, Javier and their talented team in support of Scopely’s continued growth.”
Advance’s investment is part of its ongoing capital deployment initiative focused on innovative companies with extraordinary leadership that are capitalizing on the most disruptive trends.
TCG previously participated in Scopely’s Seed and Series A financings. The firm’s latest investment in Scopely follows its recent raise of a $700M fund dedicated to investing in and partnering with best-in-class consumer brands and platforms at scale.
Jesse Jacobs, Co-Founder & Partner at TCG said, “The Scopely team has outperformed expectations consistently for the nine years we have been an investor. We are thrilled to deepen our relationship with Walter, Javier and the team as they execute on their mission of building one of the world’s leading interactive entertainment companies. As the traditional media industry continues to go through unprecedented change, we believe that Scopely has all the ingredients for tremendous success—exposure to games (the fastest-growing sector in media), a scalable and durable technology platform, a diversified set of well-known IP, an attractive economic profile, and a team hyper-focused on execution and long-term success.”
Scopely creates, publishes and live operates mobile products for worldwide audiences—delivering digital, directed-by-consumer experiences of both original and beloved entertainment brands. Scopely has emerged as an industry leader in the rapidly growing mobile games space with one of the most diverse portfolios in the West, achieving more than $1B in lifetime revenue.
An Advance representative will join Scopely’s Board of Directors with a TCG representative now as a Board Observer.
UBS Investment Bank served as exclusive financial advisor to Advance and Paul Hastings LLP served as its legal advisor.
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About Scopely
Scopely is a global interactive entertainment and mobile games company, home to many top-grossing, award-winning franchises including 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, among others. Scopely creates immersive games that empower a directed-by-consumer experience. Founded in 2011, Scopely is fueled by a world-class team and a proprietary technology platform that supports one of the most diversified portfolios in the West. Recognized in Fast Company’s ‘World’s Most Innovative Companies’ and #2 on Deloitte’s ‘Technology Fast 500’ as one of the fastest-growing companies in North America, Scopely has achieved more than $1 billion in lifetime revenue by creating long-lasting game experiences. Scopely has global operations in Los Angeles, Barcelona, Boulder, Dublin (DIGIT Games Studio), London and Tokyo with additional studios in seven countries across four continents. For more information, visit www.scopely.com.
About Advance
Advance is a private, family-owned business that owns, operates and invests in companies spanning media, entertainment, technology, communications, education and other promising growth sectors. Our mission is to build the value of our companies over the long-term by fostering growth and innovation. Advance’s portfolio includes Condé Nast, Advance Local, Stage Entertainment, American City Business Journals, Leaders Group, Turnitin, 1010data and Pop. Together these operating companies employ more than 15,000 people in 19 countries. Advance is also among the largest shareholders in Charter Communications, Discovery and Reddit. www.advance.com
About TCG
Founded by Peter Chernin, Jesse Jacobs and Mike Kerns, TCG is a multi-stage investment firm dedicated to investing in and building consumer businesses. As a group of operators, investors and creatives, the TCG team has a track record of working with world-class consumer brands in media, commerce, and consumer-tech, including Crunchyroll, Headspace, MeatEater, Barstool Sports, Scopely, Food 52, Exploding Kittens, Zola, Rooster Teeth and The Action Network. Visit TCG’s website to learn more.