Game developer Tripledot raises $116m to become UK’s latest ‘unicorn’
Gaming startup Tripledot Studios has secured a fresh $116m round of funding to make it the UK’s latest ‘unicorn’, with a valuation of $1.4bn.
The London-based mobile game developer, creator of games like puzzle game Woodoku, said it will now use the funds to develop new games and snap up rival studios.
Co-founder of Tripledot Akin Babayigit said that the business was now looking to ramp up the development of the games pipeline and “build a generational, once-in-a-lifetime company”.
He said: “Our expertise in user acquisition, monetisation and data-driven product iteration allows us to scale our games quickly and very profitably. We look forward to bringing this know-how to future acquisitions.”
The firm has expanded rapidly in the last two year, with revenues reaching $94.5 million for the year to the end of June last year, up from $70.8 million in the previous 12 months.
The fresh funding round was led by 20VC, a venture capital firm that developed from a podcast run by 25-year-old Harry Stebbings.
Previous backers of Tripledot, Access Industries, Lightspeed Venture Partners and Eldridge also joined 20VC in the latest round.