Tripledot Studios raises $116M for mobile games

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Tripledot Studios has raised 116 million in its ambition to become the next big company in mobile games.

The 20VC-led financing round is valued at લ 1.4 billion by London-based casual game maker TripleDot. The company aims to use the money to build and acquire its portfolio of sports.

Tripledot already reaches over 25 million people every month with hit games including Woodoku and Solitaire. The company has tripled its revenue in 2021, CEO Lior Schiff said in an interview with Gamesbeat. The company focuses on data-driven decisions to create targeted chart-topping titles for players over the age of 30.

Other investors include Access Industries, Lightspeed Venture Partners and Eldridge. The deal comes just ten months after the company’s first round.

Schiff co-founded TripleDot in London in 2017 with sports veterans Akin Babayagit and Ail Chemids. Schiff was previously the founder of the social casino game maker Product Madness in 2007, and sold it to Aristocrat Leisure in 2012 and spent a few years running the business for Aristocrat, a leader in social casino games. Babayagit had earlier worked in Peak Games and King. Leaders have decades of experience in sports.

Akin Babaygit, Oil Chemoids and Trierdot Studio's Lior Schiff.
Akin Babaygit, Oil Chemoids and Trierdot Studio’s Lior Schiff.

“So far, things have been going very well for us,” Schiff said. “We have a unique company capable of gaining and retaining a truly accessible audience and moving very fast. The reason we are performing well is that we were very fortunate to have just one world-class team in a range of sports ranging from product, tech, testing and art. We build technology and teams that can execute very well in all of these tasks, and we’re taking on bigger projects, more ambitious projects.

The company has launched four titles this year, Chief Operating Officer Babayagit said in an interview. He said the company was taking advantage of the fact that games were seeing historic growth and investors were paying more attention to the game companies.

“This is an exciting time in the games ecosystem, and we’ve seen the biggest m & a transactions in mobile games,” Schiff said. “This is a great time for any company to raise money. For later-stage companies such as ours, we are fortunate that we have enjoyed very high growth. It definitely helped us. ”

The London-based company has teams in Minsk, Belarus; Barcelona, ​​Spain; And st. Petersburg, Russia.

Tripledot is growing rapidly, and has 200 global employees.

“What we’ve created is an excellent platform for integrating small studios. So now we see ourselves as an active buyer. We’re a for-profit company, and fundraising really gives us the firepower for mergers and acquisitions, “Schiff said.

The mobile game maker aims to be the top expert in creating stunning casual games that retain players exceptionally well for a long time.

Harry Stabbings, managing partner of 20VC, said in a statement: “TripleDot’s growth rate and effectiveness are unmatched in the creation of successful and highly restrained games.” “TripleDot’s leadership is singular; They have created an operation that is growing rapidly while maintaining a commitment to quality and a great company culture that knows how to attract and retain the best talent in gaming. We look forward to being part of the TripleDot tour. “

For Metavers and Nonfungible Token (NFT) games, Chameides said the company is profitable and has built a platform that will serve well for future acquisitions.

“We can really be a value-added buyer. And I think it’s very exciting, “said Chemeids. “As for metavers and NFTs, we’re definitely interested in getting a better understanding of what’s going on there. I can’t say we’ve pivoted or relocated. What’s happening in blockchain space is a groundbreaking thing. We have a lot of opportunities in terms of space to grow in the mobile game space, we feel it is important to focus on our core area.

Babayagit said Apple’s focus on privacy in targeted ads (change in identifier for advertisers, or IDFA) took a lot of the company’s time and attention last year. This changed the way the company made user acquisitions. He will continue to focus. We feel we are very good at user acquisitions and we can help the companies we acquire. “

Tripledot was founded in 2017.

To date, the company has launched 10 games, and it is scaling four of them. Solitaire and Vodoku are the best performers. I asked if hypersexual was a priority, and Schiff said it was a good business but “it’s not our business.”

“We like to create games that will be part of people’s routine for years to come,” Schiff said. “We like sports that have long-term retention. In all our portfolios, we try to make or buy games. ”

He said his teams like to create games that people have been playing for years, and he is not a hypercajual model.

“Our DNA is to build the best game we can and repeat it and improve it and keep improving it,” he said. “With hypercasual, the shelf life is so short that you don’t have this opportunity to create the quality of product that we strive to create.”

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