London-based casual mobile games developer Tripledot Studios has raised $116 million in a Series B funding round led by 20VC. The new funding round gives the company a valuation of $1.4 billion. The company plans to use the funding for building its portfolio of games and pursuing M&A.
Founded in 2017, Tripledot Studios has reached close to 30 million monthly active users across its titles. The company’s titles include Woodoku and Solitaire.
Access Industries, Lightspeed Venture Partners, and Eldridge also participated in the company’s new financing round, which comes 10 months after its $78 million Series A round. The company has now raised a total of $202 million.
“In 2021 we diversified our portfolio and continued to grow our hit titles via our best-in-class marketing and live operations capabilities. As the mobile games landscape adapted to platform changes, we continued to attract the right players who are highly engaged in our games,” said Tripledot Studios CEO and co-founder Lior Shiff.
The company said it tripled its revenue in 2021 and now has 200 global employees.
“We have a robust pipeline of games; we launched four titles already this year with much more to come. We also plan to be very active on the M&A front,” commented Tripledot Studios COO and co-founder Akin Babayigit.
“Tripledot’s growth rate and efficacy in building successful and highly retentive games is unmatched,” said 20VC managing partner Harry Stebbings. “The leadership of Tripledot is singular; they have built an operation that has been scaling up rapidly while keeping its commitment to quality and a great company culture that knows how to attract and retain the best talents in gaming.”