(Bloomberg) -- Scopely Inc., the maker of free-to-play mobile games such as Looney Tunes World of Mayhem and Star Trek Fleet Command, raised $200 million for acquisitions in a new funding round.
The infusion brings the total amount that Scopely has raised to more than $450 million, according to a person with knowledge of the matter. Participants in the new round, led by NewView Capital Management, include the Canada Pension Plan Investment Board and Scottish money manager Baillie Gifford, the company said Tuesday.
The investment s the business at $1.7 billion, according to the person, who asked not to be identified because those details aren’t being announced publicly. The company was previously d at $710 million in early 2018.
Free-to-play is among the fastest-growing categories in the global video-game businesses. Titles generate revenue by convincing players to spend money in the game once they get started.
Scopely, based in Culver City, California, has generated more than $1 billion in revenue since its founding in 2011. In January, the company said on it was on pace to produce $400 million in sales annually.
In an interview, Co-Chief Executive Officer Walter Driver said the company invested early in a technology platform that allows it to add new features quickly, such as chatting between players and leader boards. The company is profitable on an operational basis, he said.
One early hit, Dice With Buddies, continues to produce record revenue when coupled with other dice-related titles the company has launched since then, such as Yahtzee With Buddies, a partnership with Hasbro Inc.
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