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- Tripledot Studios
Tripledot Studios Revenue, Valuation, Funding & Investors
Tripledot Studios is valued at $1.4B as of February 2022.
Last Tripledot Studios valuation
$1.4B
Series B · Feb 2022
Last Tripledot Studios funding round
$116M
Series B · Feb 2022
Tripledot Studios revenue
$100M
Undisclosed stage · Jan 2022
Key investors in Tripledot Studios
Lightspeed Venture Partners
Eldridge Industries
Access Industries
20VC
FTX Ventures
The Raine Group
About Tripledot Studios
Tripledot Studios is a London-headquartered mobile game developer specializing in casual titles such as Solitaire Clash, Tile Triple, and Ball Sort Puzzle. The studio publishes hypercasual and hybrid casual games downloaded over 500 million times across iOS and Android. Founded in 2017, Tripledot has expanded to more than 400 employees and topped App Store charts in 50 countries. Its portfolio generates hundreds of millions in annual revenue through in-app purchases and advertising from partners like ironSource.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales, Advertising
Revenue
$100M (Jan 2022)
Valuation
$1.4B (Feb 2022)
Sectors
Tripledot Studios Valuation
Tripledot Studios is currently valued at $1.4B, based on its Series B in February 2022.
The $116M round was led by 20VC, with participation from Access Industries, The Raine Group, Lightspeed Venture Partners and Eldridge Industries.
Tripledot Studios' valuation has grown 2.8x from $500M at its Series A in April 2021 to $1.4B in February 2022, across 3 priced rounds.
Tripledot Studios valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Feb 2022 | Series B | $1.4B | - |
| Jan 2022 | Undisclosed stage | $1.4B | 14.0x |
| Apr 2021 | Series A | $500M | 5.0x |
Tripledot Studios Revenue
Tripledot Studios' latest recorded revenue is $100M, as of its undisclosed-stage round in January 2022. At a $1.4B valuation, that implies a 14.0x revenue multiple.
Revenue moved from $100M in April 2021 to $100M in January 2022, while the revenue multiple moved from 5.0x to 14.0x.
Tripledot Studios revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2022 | $100M | $1.4B | 14.0x | Undisclosed stage |
| Apr 2021 | $100M | $500M | 5.0x | Series A |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Tripledot Studios Funding History
Tripledot Studios has raised a total of $252M across 4 funding rounds.
Tripledot Studios' first fundraising round was a $8M seed round in November 2018. The most recent completed round was a $116M Series B in February 2022.
Tripledot Studios funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2022 | Series B | 20VC (lead); Access Industries; The Raine Group; Lightspeed Venture Partners; Eldridge Industries | $116M | $1.4B | Tripledot Studios, a London-based mobile games developer founded in 2017 by Akin Babayigit, Eyal Chameides, and Lior Shiff, raised $116 million in a Series B funding round led by 20VC (The Twenty Minute VC) on February 14, 2022, achieving a post-money valuation of $1.4 billion. The round also included participation from Access Industries, Lightspeed Venture Partners, and Eldridge, bringing total capital raised to $202 million (including the $78 million Series A from April 2021). The company became a unicorn with this valuation, marking a significant milestone for the UK gaming sector. Tripledot specializes in casual mobile games targeted at players over 30, leveraging data-driven product development and sophisticated monetization mechanics. The company's popular titles include Woodoku, Solitaire, WordHop, and PuzzleTime. As of the funding round, Tripledot had launched 10 titles and was actively scaling four of them, reaching approximately 25 million monthly active users. The company had maintained profitability since 2018, its second year of operation, and reported that revenues tripled during 2021. The $116 million Series B proceeds were allocated primarily for mergers and acquisitions rather than core business operations, reflecting management's strategy to aggregate smaller game studios under Tripledot's platform. CEO Lior Shiff emphasized the company's positioning as an active buyer, stating the platform could scale acquired games through Tripledot's expertise in user acquisition, monetization, and live operations. The company employed approximately 200 staff across offices in Barcelona, Minsk, and St. Petersburg. Tripledot's success in the casual mobile gaming market contributed to the broader recognition of the UK games industry as Europe's largest gaming sector and one of the top five globally. The company's achievement of unicorn status highlighted the growing investor confidence in profitable, well-operated gaming studios that could scale efficiently in the competitive mobile games landscape. |
| Jan 2022 | Undisclosed stage | FTX Ventures (lead) | $50M | $1.4B | Tripledot Studios is a mobile game developer focused on data-driven game development, monetization infrastructure, and global expansion. In February 2022, it raised $116M in a Series B round led by Access Industries, with participation from investors including Claltech, achieving a post-money valuation of $1.4B. The funds were intended to accelerate international growth, enhance game development capabilities, and scale operations, including potential acquisitions of startups to leverage its platform. Total funding raised by that point was approximately $202M across rounds. Sources consistently attribute the February 2022 Series B leadership to Access Industries and note involvement from entities like Eldridge and 20VC (The Twenty Minute VC). Later rounds included a Series B-II in 2023 and a $400M corporate minority in May 2025, with cumulative funding reaching $602M by 2025. Tripledot later saw an acquired unit by AppLovin in 2025. Competitive context includes other gaming raises like Zupee ($102M at $600M valuation) and thatgamecompany ($160M). |
| Apr 2021 | Series A | Lightspeed Venture Partners (lead); Access Industries; Eldridge Industries | $78M | $500M | Tripledot Studios, a London-based mobile games company founded in 2017 by industry veterans Lior Shiff, Akin Babayigit, and Eyal Chameides, secured a $78 million Series A funding round on April 7, 2021, from Eldridge, Access Industries, and Lightspeed Venture Partners, with Lightspeed as the lead investor. The round valued the company at close to $500 million post-money, just three years after launch. The investors include global firms with Lightspeed managing $10.5 billion across its platform, having backed companies like Snap and Affirm. At the time of the funding, Tripledot had achieved a revenue run-rate of over $100 million as of early 2021, demonstrating rapid scaling to strong profitability. The company had grown its active user base to 11 million, up from 6 million six months prior, and tripled its employee count to over 90 in the last 12 months. Tripledot employs a data-driven approach to develop hit mobile games enjoyed by millions daily, with offices in London and Minsk. The funding supports Tripledot's expansion in the mobile gaming sector, where it creates fun, long-lasting puzzle and logic-based titles. This Series A followed a prior $8 million round in 2018 led by Velo Partners. Subsequent developments included a $116 million Series B in early 2022 at $1.4 billion valuation, led by 20VC with participation from the same investors, focusing on acquisitions and portfolio growth, bringing total raised to $202 million then. |
| Nov 2018 | Seed | Velo Partners (lead); Julien Codorniou | $8M | - | Tripledot Studios raised $8 million in a seed funding round on November 20, 2018, led by Velo Partners with participation from Julien Codorniou. The London- and Minsk-based mobile game developer was founded by veterans from King Digital, Facebook, and Product Madness, including CEO Lior Shiff, COO Akin Babayigit, and CPO Eyal Chameides. At the time, the company had launched titles such as Solitaire, Solitaire 95, Sudoku, and the story-based chat game Twisted, available on Facebook Instant Games, Apple App Store, and Google Play. The investment supported Tripledot's ambition to build the 'Apollo Program' of mobile games by assembling top talent to excel in science, art, and business pillars of mobile gaming success. Velo Partners managing director Evan Hoff highlighted partnering with a trusted team that had already achieved a seven-figure revenue run rate. The founders emphasized rapid execution on market trends, with their debut titles attracting millions of players worldwide. This seed round preceded subsequent financings, including a $78 million Series A in 2021 at close to $500 million valuation and a $116 million Series B at $1.4 billion valuation. |
Who has invested in Tripledot Studios?
8 investors have backed Tripledot Studios across its funding rounds, including Lightspeed Venture Partners, Eldridge Industries, Access Industries, 20VC, FTX Ventures and The Raine Group.
Lead investors include 20VC, FTX Ventures, Lightspeed Venture Partners and Velo Partners.
Tripledot Studios Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Apr 2021 | ||
| 2 | Lead | Apr 2021 | ||
| 2 | Participant | Apr 2021 | ||
| 1 | Lead | Nov 2018 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | Feb 2022 | ||
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Start Free TrialAcquisitions by Tripledot Studios
Tripledot Studios has acquired 4 companies to date.
Last acquisition by Tripledot Studios was on August 6th 2026. Tripledot Studios acquired Supersonic Studios for $40M.
Latest Acquisitions by Tripledot Studios
| Description | Supersonic Studios is a Tel Aviv-headquartered mobile game publisher using AI-driven user acquisition for hyper-casual titles. Its platform optimizes ad creatives across Unity Ads and AppLovin, scaling games to 100 million downloads. Notable releases include Shiba Link and Crowd City. Founded in 2020, Supersonic serves developers worldwide. | AppLovin is a San Francisco-headquartered mobile technology company that equips developers with tools for marketing, monetization via mediation platforms like MAX, analytics, measurement, and publishing of mobile games worldwide. | Zephyrmobile is a Barcelona-based developer of mobile applications focused on mental wellness. The company creates tools like CalmWave and ZenFlow that use biofeedback, guided meditations, and AI-driven exercises to reduce stress, anxiety, and promote relaxation. Zephyrmobile integrates wearable data for personalized sessions and serves over 1 million downloads worldwide. Available on iOS and Android, its apps emphasize user-centric design with offline capabilities. Founded in 2016, Zephyrmobile partners with wellness platforms and has expanded to corporate wellness programs in Europe. | Live Play Mobile is a mobile gaming platform delivering 24/7 live-hosted games blending streaming and broadcast entertainment. Hosts interact with players in real-time across titles like bingo and slots. The company leads in hosted mobile gaming, reaching audiences via apps on iOS and Android devices worldwide. |
| HQ Country | ||||
| HQ City | San Francisco, CA | San Francisco, CA | Prague | San Francisco, CA |
| Deal Date | 6 Aug 2026 | 8 May 2025 | 19 Jun 2024 | 17 Mar 2022 |
| Valuation | $40M | $400M | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Tripledot Studios acquisitions and their M&A valuation multiples. Start Free Trial | ||||
Tripledot Studios Competitors
Tripledot Studios competitors include listed companies like Nazara Technologies, Shift Up, DeNA and NHN Entertainment, and private ones like Hike and Voodoo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.4B | - | ||
| Publicly listed | $191M | $30M | $1.5B | 5.3x | ||
| Publicly listed | $214M | $166M | $1.3B | 5.4x | ||
| Publicly listed | $950M | $177M | $1.5B | 1.1x | ||
| Publicly listed | $1.8B | $176M | $1.3B | 0.6x | ||
| Private | $437M | - | $2B | 4.5x |
Tripledot Studios Public Comps
Tripledot Studios is still privately-owned, but its public comps include Nazara Technologies, Shift Up, DeNA, NHN Entertainment, mixi, Ourpalm, Modern Times Group, MNC Digital Entertainment, Embracer Group and Playtika.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $191M | $30M | 7.4x | 5.3x | 46.7x | 38.5x | |||
| $214M | $166M | 4.3x | 5.4x | 5.5x | 9.5x | |||
| $950M | $177M | 1.1x | 1.1x | 5.8x | 6.5x | |||
| $1.8B | $176M | 0.6x | 0.6x | 6.5x | 5.4x | |||
| $1.1B | $218M | 0.9x | 0.8x | 4.5x | 4.7x | |||
| $105M | ($31M) | 11.9x | 12.3x | (40.4x) | 366.4x | |||
| $1.2B | $210M | 1.7x | 1.6x | 9.4x | 6.7x | |||
| $216M | $73M | 4.7x | - | 14.0x | - | |||
This data is available for Pro users. Sign up to see all Tripledot Studios competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Tripledot Studios
| When was Tripledot Studios founded? | Tripledot Studios was founded in 2017. |
| Where is Tripledot Studios headquartered? | Tripledot Studios is headquartered in London, United Kingdom. |
| Is Tripledot Studios publicly listed? | No, Tripledot Studios is a private, VC-backed company. |
| What is Tripledot Studios' valuation? | Tripledot Studios was last valued at $1.4B in its Series B in February 2022. |
| How much funding has Tripledot Studios raised? | Tripledot Studios has raised $252M across 4 funding rounds. |
| What was Tripledot Studios' last funding round? | Tripledot Studios' last funding round was a $116M Series B in February 2022, led by 20VC. |
| Who are Tripledot Studios' investors? | Tripledot Studios' investors include Access Industries, Lightspeed Venture Partners, Eldridge Industries, Velo Partners, FTX Ventures, The Raine Group, Julien Codorniou and 20VC. |
| What is Tripledot Studios' revenue? | Tripledot Studios' latest recorded revenue is $100M (January 2022). |
| What is Tripledot Studios' revenue multiple? | Tripledot Studios' latest valuation implies a 14.0x revenue multiple ($1.4B valuation on $100M of revenue). |
| Which companies are comparable to Tripledot Studios? | Companies comparable to Tripledot Studios include Hike, Nazara Technologies, Shift Up, DeNA, NHN Entertainment and Voodoo. |
| How many companies has Tripledot Studios acquired? | Tripledot Studios has acquired 4 companies, including Supersonic Studios, AppLovin (mobile games unit), Zephyrmobile and Live Play Mobile. |
| What was the largest acquisition by Tripledot Studios? | The $400M acquisition of AppLovin (mobile games unit) in May 2025 is the largest acquisition Tripledot Studios has made to date. |
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