Brazillian Gaming Company Wildlife Studios raises $120 million at $3 billion valuation

Founded in Sao Pãulo in 2011, Wildlife Studios announced that they raised $120 million in Series B. Its series B, announced Friday, was led by Vulcan Capital  with participation from existing investor Human Capital. Vulcan Capital has also invested in Epic Games in 2018. 

Wildlife has shown it has a unique capacity to develop, launch and sustain different titles in diverse genres in a sustainable way, resulting in a growing and lucrative trajectory,

said Rafael Costa, a partner at Vulcan.

Wildlife Studios had already become a unicorn in December 2019 after raising $60 million Series A round at a 1.3 billion valuation. By this time, the gaming company’s titles including Zooba and Tennis Clash have reached 2 billion downloads worldwide.

The Brazillian gaming company plans to use the new capital to develop new games, grow its existing titles like Wildlife, and leverage its talents. Victor Lazarte, CEO of Wildlife Studios, said in an interview with GamesBeat that they plan to invest more than $200 million in the upcoming two years to make Wildlife the “go-to place for the best game designers in the world.”

Speaking on gaming

It was a busy week with important news in the mobile gaming industry. 

On Friday, we covered that Angry Birds maker Rovio reported a 2.2% year-on-year growth in games revenue. While the company’s games revenue increased in the second quarter of 2020, the overall company revenue declined by 3.6% y-on-y at the same period. 

On August 13, Fortnite was removed from Apple App Store and on the very next day Google removed the game from its store too for violating their guidelines after the developer started using its own direct payment system. 

And last week we covered that Zynga entered into an agreement to acquire Istanbul based game studio Rollic for $168 million, after acquiring another Istanbul based gaming studio Peak Games for $1.8 billion in June. 

Written by Jordan Bevan


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