Tripledot raises $78 million for London-based mobile game studio

Tripledot raises $78 million for London-based mobile game studio

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Tripledot Studios, a growing London-based mobile game studio, has raised $ 78 million in funding. This is an extraordinary amount for a mobile game studio, and it is a sign of the excitement around the game.

The money for the company’s first round of institutional funding came from Eldridge, Access Industries and Lightspeed Venture Partners.

Founded in 2017 by industry veterans Lior Shiff, Akin Babayigit and Eyal Chameides, the company is growing rapidly towards profitability and has achieved a revenue rate of $ 100 million, which means it could reach 100 million. million dollars in revenue over the next 12 months. on the basis of current income.

Tripledot’s games have attracted an active user base of 11 million, up from six million just six months ago, and the company has tripled its workforce in the past 12 months to more than 90 employees.

Above: Tripledot’s games are growing rapidly.

Image Credit: Tripledot

Tripledot CEO Lior Shiff said in a statement that the company will roll out a new generation of games later this year. The team comes from companies such as Facebook, King, Peak Games, and Product Madness. Shiff was one of the founders of Product Madness.

Tripledot Studios has offices in London and Minsk, Belarus. Akin Babayigit is Chief Operating Officer. In a statement, he said the company wants to build the “Apollo mobile gaming program” by bringing together top talent.

“Akin, Eyal and I are very good friends. We came together three years ago to create a huge business that would delight millions of gamers around the world, ”Shiff said in an email to GamesBeat. “We have all had successes in our careers and felt that if we brought together the best people in the industry under one company, with data at its heart, we could build a very successful business. We call ourselves the Apollo Mobile Games Program because, just like the Apollo Program, we want to bring together the most talented people and are scientific and data-driven in the way we run games.

Tripledot offers a diverse portfolio of titles such as Solitaire, Woodoku and Blackjack, which remain popular well beyond the lifespan of traditional mobile apps. Shiff said the company is not focused on a particular genre.

“We see ourselves as data-driven game operators, and we have the capabilities to create successful games in a variety of genres,” he said. “That being said, the common thread between the games we’ve built in the past and the games we plan to build is that they have very high long-term retention and are marketable to a very wide audience. Our first phase of games can be categorized as casual and evergreen games, and we take great pride in their settings. We will continue to make these types of games and we are also working on a few titles that are monetized through in-app purchases. “

Above: Akin Babayigit, Eyal Chameides and Lior Shiff from Tripledot Studios.

Image Credit: Tripledot Studios

Eyal Chameides is Director of Products. In a statement, he said data is at the heart of everything the company does in terms of focusing on user acquisition, monetization, product management and data science. The company has been able to develop evergreen products like Solitaire, even though most mobile apps lose 80% of their active users in three to seven days, according to Quettra Mobile Intelligence.

Venture capitalists Todd Boehly of Eldridge, Danny Cohen of Access Entertainment and David Gussarsky of Lightspeed said in statements they were impressed with the team and their ability to launch and develop successful games. quickly.

The company previously raised $ 10 million in April 2018 from Velo Partners.

“We didn’t need to fundraise because we were pretty profitable and growing really fast,” Shiff said. “We believe we have a very unique skill set around exploitation games, particularly around data science, product know-how, user acquisition and monetization. We want to increase our growth by acquiring other studios, to which we can add value. We have very close networks and relationships with many companies and have regular access to non-market offers. The main focus of this tour was not the capital. Rather, it was about finding the best and smartest investors who could join us. We feel honored and honored that these incredible investors decide to partner with Tripledot. “

According to him, the new capital will help the group to accelerate its growth by acquiring studios which can benefit from the expertise of Tripledot.

“We see ourselves as value-added buyers with many years of building and operating some of the world’s greatest mobile games,” Shiff said. “We also have a unique blend of skills that are valuable to the businesses we want to acquire, particularly around monetization (both IAP and ad-based monetization), user acquisition, know-how of products, data science and live operations, among others. This means that we are ideally looking to partner with studios that seek our expertise in these areas; to whom we can add value. Often times, we see companies that are amazing at building a specific type of game, with great KPIs and KPIs, but they may need help evolving and operating these titles, both. with expertise and capital. We believe that we can be the perfect partner for these companies, and we are quite agnostic in terms of gender and size. “

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