UK mobile studio Tripledot nets $116 million at $1.4 billion valuation

UK mobile company Tripledot Studios has raised $116 million in Series B funding to expand its portfolio and pursue acquisitions.

The investment was led by 20VC with participation from Access Industries, Lightspeed Venture Partners, and Eldridge, and values Tripledot at $1.4 billion.

Tripledot is the developer behind casual titles like Woodoku and Word Hop. Last year, the company raised $78 million to finance studio acquisitions and intends to keep exploring M&A opportunities.

Commenting on the investment, Tripledot co-founder and COO Akin Babayigit said the company will be "very active" on the M&A front and outlined plans to continue expanding its "robust" pipeline of games.

"We launched four titles already this year with much more to come. We also plan to be very active on the M&A front," said Babayigit in a press release. "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."

Tripledot has reportedly tripled its revenues over the past year and currently reaches over 25 million players each month.