Gamers rejoice! Social Point, mobile game developer, just landed $30 million in funding to build additional games and expand into the Asian market.
Breeding games are Social Point’s specialty, including the likes of Monster Legends and Dragon City. The new funding will allow the company to expand the breeding game category into something called Mobile Action Social Strategy, or MASS, games, which allow players to play for greater lengths of time and with more social interaction. Three new titles are expected to launch this year and four more in 2015.
Highland Capital Partners Europe led the round, with existing investor Idinvest contributing as well. Previous funding rounds saw Social Point raise $4.5 million in 2011 from Nauta Capital and $14 million in 2012 from Greylock IL, BBVA, and Idinvest.
“The founding team has a superb blend of creativity, leadership, operational focus, and financial acumen which have been key factors in positioning Social Point as the third largest game developer on Facebook,” said Laurence Garrett, partner with Highland Capital Partners Europe in a statement. Garrett then expressed his firm’s desire to continue to invest in the mobile social gaming sector. And it’s seemingly a sound investment, as mobile game revenue is expected to double by 2017.
Social Point got its start as a Facebook game developer then transitioned into the full-fledged mobile game market, with titles available for iOS and Android. Its most popular games have received 150 million downloads and currently have 50 million monthly active users. The company was founded in 2009 by Horacio Martos and Andrés Bou in Barcelona, Spain. It now has an international employee base of 210 people.