SOCIAL POINT RAISES 30 M$ IN A ROUND LED BY HIGHLAND CAPITAL

Barcelona, 21st July 2014

 

Social Point, a leading developer of mobile games, raised 30 M$ in a round lead by Highland Capital. Existing investor Idinvest from France also participated in the round. Social Point started as a game developer for games on the Facebook platform, and in the last years it transitioned very successfully to be a leading player of mobile games on iOS and Android with titles like Dragon City and Monster Legends.

Social Point previously raised 4,5 M$ from Nauta Capital as its first institutional investor in 2011 and 14 M$ from Greylock IL, Idinvest and BBVA in  the second half of 2012. In the current round Nauta Capital, BBVA and to a minor extent the founders sold to Highland and existing investors a small portion of their holdings.

Andrés Bou, Co-CEO of Social Point said “The company has been profitable for the last seven consecutive quarters and it’s on pace to surpass the 100M$ revenues for this year. We saw as an opportunity to incorporate a well-known growth firm like Highland Capital, to give early shareholders a quick payout and to shrug off any pressure to go public or look for a large exit in the future.”

 

Breeding games Dragon City & Monster Legends, have become a mainstream phenomenon with more than 50 million monthly active users and 150 million downloads since the company's inception. They have been on top-grossing positions consistently on iOS and Android on the most important Western Markets, and now Social Point is planning to expand to Asia.

 

The firm, which has built its business on breeding games, now plans to define a new broader category named MASS (Mobile Action Social Strategy), which offers gamers deeper immersion, social interaction and longer-term gameplay. The company plans to launch three more MASS games during the second half of 2014 and four more during 2015.

 

"We understand the MASS category is underserved, and our next series of titles address a consumer segment that is hungry for more strategic mobile gameplay, built on competitiveness that can be played for months and years," said co-founder and Co-CEO Horacio Martos.

 

Laurence Garrett from Highland Capital Partners Europe said “Social Point is a great company that fits our investment strategy perfectly.  The business is rapidly growing internationally from a broad base of mobile social games.  The founding team have a superb blend of creativity, leadership, operational focus, and financial acumen.  We are delighted to join the Social Point journey in a sector we know well and with a group of investors we respect and have successfully worked alongside for many years on several investments.”