The cost of the British mobile developer Tripledot Studios is steadily growing. As part of a new round of financing, the company raised $ 116 million, after which its valuation reached $1.4 billion. Over time, the studio hopes to become “the next Activision Blizzard.”
Woodoku
The leader of the round was the venture company 20VC.
Access Industries, Lightspeed Venture Partners and Eldridge have also invested in Tripledot Studios. The studio plans to spend the money received on expanding its portfolio and buying other studios.
“We have already released four games this year, and we plan to release even more. We are also going to be active in the M&A market. We have enough experience in attracting users, monetization and iteration of data-based products. All this allows us to scale games very profitably. We look forward to using this experience in future acquisitions,” said Akin Babayigit, co—founder and COO of Tripledot Studios.
As for the desire to turn Tripledot Studios into the next Activision Blizzard, Lior Shiff, CEO and another founder of the studio, spoke about such ambitions in an interview with TechCrunch. He also said that the company’s revenue has tripled over the past year, but did not disclose exact figures.
The current funding round was the third for Tripledot Studios. The previous one was in April 2021, and then the mobile studio raised $78 million at an estimate of almost $500 million. In total, Tripledot Studios has received $202 million from investors to date.
Tripledot Studios was founded in 2017 by the heads of the Product Madness studio. Now the company employs 200 employees, and there are about 10 games in its portfolio. Among the most famous projects of Tripledot Studios are Woodoku and PuzzleTime puzzles, as well as Solitaire and Blackjack card games. At the moment, the total MAU of its games exceeds 25 million people.