Spain-based mobile game developer Social Point raised $30m yesterday in a series C round featuring Allianz-backed venture firm Idinvest Partners.
The round was led by venture capital fund Highland Capital Partners, and both Highland and Idinvest bought part of the equity shares in Social Point owned by VC firm Nauta Capital, financial services firm BBVA and the company founders.
Social Point previously raised $4.5m from Nauta in 2011 and $14m from Idinvest, BBA and Greylock IL, an affiliate fund of VC firm Greylock Partners, in 2012.
The company, founded in 2009, now plans to concentrate on a subgenre it calls mobile action social strategy (MASS), which it believes can offer mobile gamers deeper immersion and longer-term gameplay. It plans to launch three MASS games in the second half of 2014 and four in 2015.
Andrés Bou, Social Point’s co-chief executive, said: “The company has been profitable for the last seven consecutive quarters and is on pace to surpass $100m in revenue for this year.”