As reported by Calcalist, Moon Active, developer of popular casual mobile game Coin Master, has raised $300 million at a $5 billion valuation.
The funding round was led by Insight Partners, which invested $125 million in Moon Active in early 2020 at a $1.25 billion valuation. Andalusian Private Capital also participated in the round.
Moon Active generated $1.25 billion in revenue throughout 2020, and it predicted revenue of $1.5 billion for 2021.
Moon Active CEO Samuel Albin told Calcalist that “We are very pleased with the partnership with Insight Partners, which continues to believe in the company, its vision and its talented team, and we are happy to bring in Andalusian Private Capital.”
“Looking ahead to the coming years we see potential for endless growth and this is only the beginning. We took significant steps this year in our goal to become the world’s most successful mobile gaming company and invested many resources in developing our technological platform and many abilities that support and accelerate our games and provide us with a competitive advantage. We have developed several new games in several categories and are also targeting growth via M&As of different sizes. They say that human capital is the most important factor in the success of a company. That isn’t true. Human capital is the only important factor in the success of a company and that is the secret to our success.”
Per Sensor Tower, between August 2020 and September 2021, Coin Master generated $651 million, the highest revenue from a casino mobile game in the US. Having more than 1300 team members mostly based in Tel Aviv, the Israel-based company acquired Family Island mobile game developer Melsoft last year.