Tracxn - Mobile Gaming Startup Landscape

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Mobile Gaming - Mar 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on March 20, 2019.
Mobile Gaming Feed Summary
4
Mobile Gaming > Feed Summary
Companies that enhance the mobile gaming ecosystem in the capacities of Game developers, Gaming Enablers, Gaming
Platforms, Game Publishers
• Inclusions: Includes: Gaming companies with the core
business (major revenue) as the development and
publishing of mobile games. The scope also include mobile
gaming platforms (which enables the search discovery
and online playing of mobile games ) and also gaming
enablers ( companies that support game developers in the
development, monetization, marketing and distribution of
mobile games )
• Exclusions: Excludes: Companies that develop mobile
games but the core focus remains as PC/Console games
and gambling companies that use real money to play
games.
• Excludes funding information of Chinese companies Feed in Numbers
Overview
$8.3B
Funding
98
Mega
Companies
9434114
FundedCovered on
Tracxn
17
Unicorns
18
Soonicorns
20
Minicorns
72
IPO’d Cos
298
Late Stage Cos
50
199
Acquisitions
618
DeadPooled
4
Acquihired
Series A+ Cos
JAM CITY
(2007, Culver City, $149M)
Kuuhubb
(2016, Helsinki, $20M)
Niantic
(2010, San Francisco, $473M)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Mobile Gaming
5
$391M - Series E
Garena (2009, Singapore, $563M)
$129M - PE
Kakao Games (2016, Seongnam-si, $139M)
$245M - Series C
Niantic (2010, San Francisco, $473M)
$100M - Series C
Scopely (2011, Culver City, $260M)
$200M - Series B
$90M - Series C
Pocket Gems (2009, San Francisco, $155M)
$200M - Series C
Voodoo.io (2013, Paris, $200M)
$60M - Series C
$150M - Series F
Roblox (2005, San Mateo, $252M)
$51.1M - Series B
Nazara (2000, Mumbai, $102M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Mobile Gaming > Feed Summary > Investment Trend Summary
Seed Initial Capital (#7), London Venture Partners (#6), Sunstone (#5)
Series A/B Northzone (#4), Accel Partners (#3), London Venture Partners
(#3)
Series C+ Greylock Partners (#1), Index Ventures (#1), IVP (#1)
Incubators 500 Startups (#7), Incubate Fund (#5), MassChallenge (#5)
Other Notable
Investors
Korea Investment Partners (#11), Tencent (#10), Kima Ventures
(#5)
Debt Investors
Western Technology Investment (#8), Mercia Technologies (#4),
Silicon Valley Bank (#3)
Most Active InvestorsRecent Investments
541
448
195
78
42
3
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 142 115 82 74 40 10
$4.4B
$1.3B
$938M
$660M
$204M
US
Europe
South
Korea
SEA
India
$ Funding
$290M
$1.6B
$580M
$451M
$1.1B
$770M
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in Mobile Gaming
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Accel Partners 4
Supercell (2010, Helsinki, $143M)
Rovio (2003, Espoo, $42M)
Tencent 4
Netmarble Games Corporation (2000, Seoul,
$533M)
IVP 4
Zynga (2007, San Francisco, $707M)
Incubate Fund 4
Gumi (2007, Tokyo, $94M)
Aiming (2011, Shibuya, $19.1M)
M Venture
Investment
4
Com2uS (1998, Seoul, $8M)
Mgame Japan (2005, Tokyo)
Dec 2018 Small Giant Games Acq by Zynga for $560M
Apr 2017
DoubleDown Interactive Acq by DoubleUGames for
$825M
Jul 2016 Playtika Acq by Giant Interactive Group for $4.8B
Jun 2016 Supercell Acq by Tencent for $10.2B
Nov 2015 King Acq by Activision Blizzard for $5.9B
Jul 2011 PopCap Acq by Electronic Arts for $750M
Mobile Gaming > Feed Summary > Exit Outlook Summary
Zynga 9
Small Giant Games (Dec 2018, $560M), NaturalMotion (Jan
2014, $527M), Gram Games (May 2018, $250M)
Ubisoft 6
Blue Byte (Feb 2001), KetchApp Games (Sep 2016),
Growtopia (Feb 2017)
Glu 4 Cie Games (Jul 2014, $80.8M), CrowdStar (Nov 2016, $45.5M)
Stillfront 5
Goodgame Studios (Dec 2017, $320M), Playa Games (Dec
2018, $51.1M), Imperia Online (Sep 2018, $11.7M)
Google 4
LabPixies (Apr 2010, $15M), SocialDeck (Aug 2010), Red Hot
Labs (Feb 2015)
Recent IPOs Top Acquisitions
WeGames Apr 2017
Developer and publisher of mid-core mobil…
IPO MCap: -
Cayenne's Ark Mobile Oct 2016
Mobile game development company
IPO MCap: -
InterServ International Oct 2016
Independent game development company
IPO MCap: -
Me2On Oct 2016
Game development studio specializing in s…
IPO MCap: $102M
Codemasters Jun 2018
Game developer and publisher
IPO MCap: $372M
MAG Interactive Dec 2017
Mobile Games developer specializing in Wo…
IPO MCap: -
Kuuhubb Jun 2017
Mobile games and apps distribution platfo…
IPO MCap: -
Netmarble Games Corporation May 2017
Game development company based in South K…
IPO MCap: $11.8B

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.
FACTSHEET
Feed Report - Mobile Gaming - Mar 2019
Marketmap: Mobile Gaming
Overview
Companies 4114
Funded 943 Series A+ 298
Funding $8.3B Last 2 yrs $2.4B
Most Active Investors
Seed Initial Capital (7)
Series A/B Northzone (4)
Series C+ Greylock Partners (1)
Others Korea Investment Partners (11)
Incubators 500 Startups (7)
Top Cities
Bay Area 281 Cos $3.3B
Seoul 106 Cos $702M
Feed in Numbers
Unicorns 17 Soonicorns 18
Minicorns 20 Editor Picks 176
Acquihired 4 Deadpooled 618
Top Companies
JAM CITY (2007, Culver City, $149M)
Kuuhubb (2016, Helsinki, $20M)
Exits
IPOs 72 Netmarble Games
Corporation, Codemasters
Acquisitions 199 Supercell, King
Top Acquirers Zynga, Ubisoft
GAME DEVELOPERS
CASUAL
CORE
MARKETING & ANALYTICS
GAME DEVELOPMENT
MONETIZATION
AD - NETWORKS
PUBLISHERS
GAMING PLATFORMS
GAMER TOOLS
MID-CORE
STREAMING
PERIPHERALSTOOLS & SERVICES
Mobile Gaming > Feed Summary > BlueBox
Funding data excludes Debt, Grants & Post-IPO rounds.
Excludes all details for Chinese companies.
7

Key Sub Sectors in Mobile Gaming Sector
Summary of Key Markets
8
Other Notable Markets
# Cos on
Platform
Last 2 Years
$ Invested # Round
Gaming Platforms 39 $541M 4
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Game Developers > Casual >
Multi Genre 2527 $532M 35
Game Publishers 170 $259M 15
Game Developers > Mid-Core > Multi Genre
>
AR-enabled
60 $457M 7
Game Developers > Mid-Core >
Multi Genre 445 $129M 15
Gaming Platforms >
Distribution 81 $26.5M 3
Gaming Enablers > Development >
Tools 19 $19.4M 3
Game Developers >
Casual 49 $17.9M 3
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Game Developers
Game developers specializing in mobile games
3663 792 $6.1B
Gaming Platforms
Companies that allow users to discover and play
mobile games
120 45 $1.1B
Game Publishers
Companies that publish mobile games
170 52 $554M
Gaming Enablers
Companies that enable the mobile gaming ecosystem
at various points in the value chain...
161 54 $531M
Mobile Gaming > Feed Summary > Summary of Key Markets

List of Notable Companies in Mobile Gaming
Notable Companies in the Sector (1/3)
9
Note: *(Founded Year, Location, Total Funding)
Mobile Gaming > Feed Summary > Notable Companies in the Sector
Public
Netmarble Games
Corporation
(2000, Seoul, $533M)*
Zynga
Gumi
(2007, Tokyo, $94M)
Devsisters
(2009, Seoul)
WeMade Entertainment
(2000, Seoul)
Gravity Co.
(2000, Seoul)
Codemasters
(1986, Warwick)
GAMEVIL
(2000, Seoul, $80M)
Glu
Akatsuki
(2010, Tokyo, $13.8M)
Public
Aiming
(2011, Shibuya, $19.1M)
PATI Games
(2011, Seoul, $19.7M)
JOYMAX
(1997, Seongnam-si)
Ignis
(2010, Shibuya)
Me2On
(2010, Gangnam)
AltPlus
(2010, Tokyo)
Mgame
(1997, Seoul)
Gaming Realms
(2011, London)
ThumbAge
(2013, Seongnam-si)
Edia
(1999, Tokyo)
Public
ACTION SQUARE
(2012, Seongnam-si)
Entermate
(2001, Seoul)
iCandy
(2011, Melbourne)
Gameloft
(1999, Paris, $22.4M)
Kuuhubb
DeNA
(1999, Shibuya, $19.2M)
Next Games
MAG Interactive
(2010, Stockholm, $15.6M)
SNSplus
(2010, Taipei, $12.5M)
KLab
(2012, San Francisco, $9.3M)
Public
Com2uS
(1998, Seoul, $8M)
IGG
(2005, Singapore, $4.5M)
Vivid Games
(2006, Bydgoszcz, $932k)
Freeze Tag
(2006, Tustin, $493k)
G5 Entertainment
(2001, Stockholm)
Konami
(1969, Tokyo)
NEXON
(1994, Seongnam-si)
InterServ International
(1989, Taipei)
Mixi
(2006, Shibuya)
11 bit studios
(2010, Warsaw)
Public
7Seas Entertainment
(2005, Hyderabad)
Artifex Mundi
(2006, Katowice)
Ateam
(2010, Nagoya)
Capcom
(1979, San Mateo)
COMSEED
(1991, Chiyoda-ku)
Dragonfly
(1995, Gangnam)
GungHo Online
Entertainment
(1998, Tokyo)
Mobcast
(2004, Minato)
Netmarble Joybomb
(2012, Taipei)
AXEL MARK
(1994, Tokyo)

10
Public
Jujubee
(2012, Katowice)
KOE Corporation
(1978, Yokohama)
Mgame Japan
(2005, Tokyo)
WeGames
(2013, Taipei)
YJM Games
(2004, Gangnam)
Cayenne's Ark Mobile
(2014, Taipei)
Left Behind Games
(2001, Murrieta)
CAVE Interactive
(1994, Tokyo)
COLOPL
(2008, Tokyo)
Crooz
(2001, Tokyo)
Public
IsCool Entertainment
(2001, Paris)
NHN Entertainment
(2013, Santa Monica)
Nitro Games
(2007, Kotka)
Shoal Games
(2015, London)
Tapinator
(2013, New York City)
T-Bull
(2010, Wroclaw)
User Joy
(1997, Taipei)
Acquired
Supercell
(2010, Helsinki, $143M)
King
(2003, London)
Playtika
(2010, Tel Aviv, $1.5M)
DoubleDown
Interactive
(2010, Woods Cross)
Playdom
(2008, Palo Alto, $76M)
PopCap
(2000, Seattle, $22.5M)
Small Giant Games
NaturalMotion
(2001, Oxford, $11M)
Ngmoco
(2008, San Francisco, $39.8M)
Goodgame Studios
(2009, Hamburg)
Acquired
Social Point
(2008, Barcelona, $44.7M)
Gram Games
(2013, London, $600k)
Pokelabo
(2007, Minato, $12M)
Bash Gaming
(2010, Bangalore, $1M)
Osmo
(2013, Palo Alto, $36M)
Backflip Studios
(2009, Boulder, $145k)
Dragonplay
(2011, Tel Aviv, $14M)
Unicorns
Garena
(2009, Singapore, $563M)
Niantic
MZ (Machine Zone)
(2008, Palo Alto, $263M)
Roblox
(2005, San Mateo, $252M)
Kabam
Rovio
(2003, Espoo, $42M)
Smilegate
(2002, Seongnam-si)
VNG Corporation
(2004, Ho Chi Minh City)
Playrix
(2004, Vologda)

11
Deadpooled
OMG Pop (2006, New York
City, $15.2M)
SundayToz(2009,
Seongnam-si, $3M)
DNA Dynamics (1994,
Leamington Spa, $341k)
Apps Genius(2009, Red
Bank, $40k)
MyGO Games(2014, Austin)

List of Notable Companies by Market in Mobile Gaming
Notable Companies by Market (1/12)
13
Mobile Gaming > Feed Summary > Notable Companies by Market
Game Developers
Casual
Casual games developer and publisher for mobile
and web platforms
Unicorn. Stage: Public
T. Rowe Price, Google, SoftBank Capital and 26
Other Investors
Mobile game developer and publisher focusing on
casual games
Soonicorn. Stage: Series C
Revolution, Greycroft Partners, Evolution Media
and 32 Other Investors
Soonicorn. Stage: Acquired
JPMorgan Chase & Co., Silicon Valley Bank, Bank of
America Merrill Lynch and 17 Other Investors
Casual
Big Fish (2002, Seattle, $95.2M)
Video Game developer and publisher specializing in
casual games for Mobile and PC platforms.
Balderton Capital, General Catalyst Partners,
Salmon River Capital and 1 Other Investors
Lumosity (2005, San Francisco, $67.5M)
Developer of web and app-based games for brain
training
Soonicorn. Stage: Series D
Discovery Communications, FirstMark, Harrison
Metal and 3 Other Investors
Small Giant Games (2013, Helsinki, $52M)
Mobile game development studio
Zynga, EQT Ventures, Creandum and 5 Other
Investors
Casual
Social Point (2008, Barcelona, $44.7M)
Game developer focusing on mobile and web
platforms
Stage: Acquired
Idinvest Partners, Highland Europe, Greylock
Partners and 3 Other Investors
Mobile Game developer specializing in Casual
games
Unicorn. Stage: Series A
Accel Partners, Atomico, Felicis Ventures
PopCap (2000, Seattle, $22.5M)
Independent casual game developer and publisher
Unicorn. Stage: Acquired
Meritech Capital Partners
PATI Games (2011, Seoul, $19.7M)
Mobile game developer
Stage: Public
Tencent

14
Game Developers
Casual
Aiming (2011, Shibuya, $19.1M)
Stage: Public
Alibaba Group, SMBC Venture Capital, Nissay
Capital and 5 Other Investors
MAG Interactive (2010, Stockholm, $15.6M)
Mobile Games developer specializing in Word
games
Minicorn. Stage: Public
Swedbank Robur, NGP Capital
OMG Pop (2006, New York City, $15.2M)
Mobile game developer focusing on casual games
Stage: Deadpooled
Y Combinator, Rho Capital Partners, Spark Capital
Octro (2006, Noida, $15M)
Indian game development studio specializing in
casino games
Soonicorn. Stage: Series A
Sequoia Capital
Casual
Dragonplay (2011, Tel Aviv, $14M)
Social and Mobile Gaming
Stage: Acquired
Accel Partners, Founder Collective, Entree Capital
Akatsuki (2010, Tokyo, $13.8M)
Indie game development company based out of
Japan
Stage: Public
Link and Motivation, Globis Capital Partners
SundayToz (2009, Seongnam-si, $3M)
Video Game developer focusing on Casual games
for Mobile and Web platforms
Stage: Deadpooled
SoftBank Ventures Korea, Korea Investment
Partners, T S Investment and 2 Other Investors
Playtika (2010, Tel Aviv, $1.5M)
Video Game developer specializing in Casino games
for Mobile and Web platforms
Kaedan Capital, NFX
Casual
Bash Gaming (2010, Bangalore, $1M)
Developer of casino games for social and mobile
platforms
Stage: Acquired
Tandem Capital
Gram Games (2013, London, $600k)
Mobile Games developer focusing on Casual games
Stage: Acquired
Hummingbird Ventures, Fabrice Grinda, Jose Marin
DNA Dynamics (1994, Leamington Spa, $341k)
Mobile games developer
Stage: Deadpooled
Backflip Studios (2009, Boulder, $145k)
Stage: Acquired
Apps Genius (2009, Red Bank, $40k)
Web Game Developer
Stage: Deadpooled

15
Game Developers
Casual
King (2003, London)
Mobile game developer specializing in Casual
Games
Apax Partners, Mosaic Ventures, Index Ventures
VNG Corporation (2004, Ho Chi Minh City)
Internet and technology company
Unicorn. Stage: Series C
CyberAgent Ventures, IDG Ventures Korea, IDG
Ventures Vietnam and 1 Other Investors
G5 Entertainment (2001, Stockholm)
Mobile Games developer and publisher focusing on
Casual games
Editor's Pick. Stage: Public
Rite Ventures
Konami (1969, Tokyo)
Japanese entertainment and video game
development/publishing company
Casual
Miniclip (2001, Neuchatel)
Video game developer and publisher focusing on
web and mobile games
InterServ International (1989, Taipei)
11 bit studios (2010, Warsaw)
Polish cross-platform video game development
company
Stage: Public
7Seas Entertainment (2005, Hyderabad)
Online, mobile and PC based games developer
Stage: Public
Gravity Co. (2000, Seoul)
Online game developer based in South Korea
Stage: Public
LB Investment, SL Investment, KTB Ventures
Casual
GungHo Online Entertainment (1998,
Tokyo)
Video game developer and publisher
Stage: Public
Me2On (2010, Gangnam)
Game development studio specializing in social,
casino, role-playing games
Stage: Public
Ignis (2010, Shibuya)
Stage: Public
Jujubee (2012, Katowice)
Games development studio based out of Poland
Stage: Public
Mgame (1997, Seoul)
Korea-based game development and publishing
company
Stage: Public
CDC Corporation, Daesung Venture Investment, M
Venture Investment

16
Game Developers
Casual
Mgame Japan (2005, Tokyo)
Japanese game development company
Stage: Public
M Venture Investment
Cayenne's Ark Mobile (2014, Taipei)
Stage: Public
Left Behind Games (2001, Murrieta)
Indie game development company
Stage: Public
Playrix (2004, Vologda)
Casual games developer targeting Mobile and Web
platforms
Unicorn. Stage: Unfunded
AltPlus (2010, Tokyo)
Game development company
Stage: Public
Lead Capital Management
Casual
CAVE Interactive (1994, Tokyo)
Mobile app studio for games
Stage: Public
iSigma Capital Corporation
COLOPL (2008, Tokyo)
Mobile Games developer and publisher
Stage: Public
JAFCO
Devsisters (2009, Seoul)
Mobile Game developer focusing on Casual Games
Stage: Public
Atinum Investment, Smile Gate Investment,
SoftBank Ventures Korea
DoubleDown Interactive (2010, Woods
Cross)
Casino Games developer targeting Social and
Mobile platforms
Stage: Acquired
Casual
Gaming Realms (2011, London)
Game company
Stage: Public
Velo Partners
IsCool Entertainment (2001, Paris)
Game development company based in France
Stage: Public
Keensight Capital, Entrepreneur Venture, Aglae
Ventures
NHN Entertainment (2013, Santa Monica)
Game development and publishing company
Stage: Public
Shoal Games (2015, London)
Stage: Public
Tapinator (2013, New York City)
Stage: Public
Hillair Capital

17
Game Developers
Casual
T-Bull (2010, Wroclaw)
Mobile Games developer focusing on Casual Racing
games
Stage: Public
Mid-Core
IVP, AXiomatic, Battery Ventures and 18 Other
Investors
MZ (Machine Zone) (2008, Palo Alto, $263M)
Unicorn. Stage: Series B
JPMorgan Chase & Co., Menlo Ventures, Baseline
Ventures and 3 Other Investors
Kabam (2006, San Francisco, $244M)
Game developer and publisher for mobile and web
platforms
Unicorn. Stage: Series E
Alibaba Group, Warner Bros, MGM Studios and 13
Other Investors
Mid-Core
Mobile Game Developer focusing on Mid-Core
games
Tencent, Sequoia Capital, Musha Ventures and 3
Other Investors
Supercell (2010, Helsinki, $143M)
Mobile Game developer specializing in Mid-core
games
Index Ventures, Atomico, IVP and 9 Other Investors
Glu (2001, San Francisco, $100M)
Mobile game developer and publisher specializing
in mid-core games
Cannell Capital, Cypress Capital, GGV Capital and 7
Other Investors

18
Game Developers
Mid-Core
Gumi (2007, Tokyo, $94M)
Japanese mobile game developer and publisher
specializing in mid-core games
YJM Games, VOYAGE GROUP, Line and 16 Other
Investors
GAMEVIL (2000, Seoul, $80M)
Mid-Core games
Stage: Public
Hyundai Venture Investment
Playdom (2008, Palo Alto, $76M)
Video Game developer for Mobile and Web
platforms
Stage: Acquired
Steamboat Ventures, Bessemer Venture Partners,
Pritzker Group and 5 Other Investors
Mid-Core
Gameloft (1999, Paris, $22.4M)
Mobile game developer and publisher
Vivendi
Next Games (2013, Helsinki, $18M)
Mobile Games developer focusing on Mid-Core
games
Stage: Public
IDG ventures, AMC Networks, Lions Gate
Entertainment and 7 Other Investors
Pokelabo (2007, Minato, $12M)
Mobile Games developer
Stage: Acquired
Incubate Fund, DCM Ventures, World Innovation
Lab
Mid-Core
NaturalMotion (2001, Oxford, $11M)
Mobile Games developer and Development Tools
provider
Stage: Acquired
Benchmark Capital, Balderton Capital, Spark
KLab (2012, San Francisco, $9.3M)
Mobile game development studio.
Stage: Public
SBI Investment, Japan Asia Investment, Oak Capital
Corporation
Com2uS (1998, Seoul, $8M)
Editor's Pick. Stage: Acquired
Storm Ventures, Walden International, KTB

19
Game Developers
Mid-Core
IGG (2005, Singapore, $4.5M)
MMORPGs for mobile, browser and PC platforms
Soonicorn. Stage: Public
IDG ventures, Vertex Ventures China, IDG Capital
Vivid Games (2006, Bydgoszcz, $932k)
Video Games developer
Stage: Public
Giza Polish Ventures
NEXON (1994, Seongnam-si)
specializing in action, strategy and role-playing
games
Codemasters (1986, Warwick)
Balderton Capital
Mid-Core
JOYMAX (1997, Seongnam-si)
Mobile game development company specializing in
mid-core fantasy games, action, and arcade games
Hanwha Investment
Mixi (2006, Shibuya)
Japanese holding company developing games and
social apps
World Innovation Lab, Venture United
WeMade Entertainment (2000, Seoul)
Video game developer specializing in MMORPGs
SkyLake Investment, Lindeman Asia Investment
Artifex Mundi (2006, Katowice)
Stage: Public
Warsaw Equity Group
Mid-Core
Ateam (2010, Nagoya)
Mobile game development and lifestyle content
development company
Stage: Public
Capcom (1979, San Mateo)
Video game developer
Stage: Public
Entermate (2001, Seoul)
Stage: Public
E&Investment
AXEL MARK (1994, Tokyo)
Mobile game development company engaged in
planning and development of games
Stage: Public
KLab, Japan Asia Investment, Incubate Fund and 1
Other Investors

20
Game Developers
Mid-Core
Edia (1999, Tokyo)
Designer, developer, and producer of mobile
internet applications and games
Stage: Public
SMBC Venture Capital
KOE Corporation (1978, Yokohama)
Japanese video game development and publishing
company
Stage: Public
WeGames (2013, Taipei)
Developer and publisher of mid-core mobile games
Stage: Public
ACTION SQUARE (2012, Seongnam-si)
Stage: Public
Korea Investment Partners
Crooz (2001, Tokyo)
Stage: Public
CyberAgent Ventures
Mid-Core
Goodgame Studios (2009, Hamburg)
Video Game developer focusing on mobile and
browser games
Stage: Acquired
Global Founders Capital
MyGO Games (2014, Austin)
Mobile & PC games developer
Stage: Deadpooled
SparkLabs Global Ventures
Nitro Games (2007, Kotka)
Stage: Public
ThumbAge (2013, Seongnam-si)
Stage: Public
KTB Network
Core
Netmarble Games Corporation (2000, Seoul,
$533M)
Game development company based in South Korea
Tencent
4:33 Creative Lab (2009, Seoul, $110M)
Developer and publisher of high-definition mobile
games
Line, Tencent, Magellan Technology Investment and
1 Other Investors
Super Evil Megacorp (2012, San Mateo, $63M)
Mobile game developer specializing in the core
games
Soonicorn. Stage: Series B
Index Ventures, Korea Investment Partners, Breyer
Capital and 6 Other Investors

21
Game Developers
Core
Dragonfly (1995, Gangnam)
headquartered in South Korea
Stage: Public
Hanwha Investment, M Venture Investment, SAIF
Partners China
Netmarble Joybomb (2012, Taipei)
Game development company based out of Taiwan
Stage: Public
Gaming Platforms
Gaming Platforms
Gaming platform provider and eSports league
organizer
Unicorn. Stage: Series E
GDP Venture, Farallon Capital Management,
Hillhouse Capital Group and 11 Other Investors
Online gaming platform allowing users to create the
web games
Unicorn. Stage: Series F
Greylock Partners, Altos Ventures Capital, Index
Distribution
Mobile games and apps distribution platform
Business Finland
DeNA (1999, Shibuya, $19.2M)
Social mobile game platform and provider of
mobile services
Stage: Public
Sumitomo Corporation, Nippon Venture Capital,
Nippon Technology Venture Partners

22
Game Publishers
Game Publishers
Multi-platform game publishing and development
company
Soonicorn. Stage: Seed
Tencent, Netmarble Games Corporation, ACTOZ
Soft and 7 Other Investors
Mobile game publisher
ESLGaming, JetSynthesys, LNB Group and 37 Other
Investors
Ngmoco (2008, San Francisco, $39.8M)
Mobile Games publisher
Stage: Acquired
GV, IVP, Norwest Venture Partners and 2 Other
Investors
Game Publishers
SNSplus (2010, Taipei, $12.5M)
Video Game Publisher focused on Online and
Mobile games
Stage: Public
WI Harper Group, Matrix Partners China, Intel
Capital
Freeze Tag (2006, Tustin, $493k)
Stage: Public
Smilegate (2002, Seongnam-si)
Unicorn. Stage: Funded
Smile Gate Investment
YJM Games (2004, Gangnam)
Publishing company specializes in action, arcade,
and adventure games
Stage: Public
Game Publishers
iCandy (2011, Melbourne)
Independent game publisher headquartered in
Australia
Stage: Public
Fatfish Internet Group
User Joy (1997, Taipei)
Stage: Public
CyberAgent Ventures, Trinity Investment

23
Gaming Enablers
Monetization
RockYou (2005, San Francisco, $165M)
Cross-platform video ad network for games
Columbia Capital, FastPay, SoftBank Group and 14
Other Investors
Swrve (2011, San Francisco, $76.1M)
In-app marketing automation platform for mobile
apps
NETGEAR, Summit Bridge Capital, Evolution Capital
Partners and 14 Other Investors
Streaming
Kamcord (2012, San Francisco, $34.8M)
Platform for recording and sharing for the mobile
gameplay
Time Warner, Tencent, TransLink Capital and 23
Other Investors
Development
COMSEED (1991, Chiyoda-ku)
Game development service provider
Stage: Public
Mobcast (2004, Minato)
Game content development company based out of
Japan
Stage: Public

24
Gaming Enablers
Devices
Osmo (2013, Palo Alto, $36M)
Developer of hardware-based iPad games for kids
Mattel, Accel Partners, Upfront Ventures and 7
Other Investors

List of Notable Companies in Mobile Gaming in China
Notable Companies in the Sector in China
25
Mobile Gaming > Feed Summary > Notable Companies in the Sector in China
Public
iDreamSky
(2009, Shenzhen, $27M)
Kongzhong
(2002, Beijing)
ChangYou
(2003, Beijing)
Animocabrands
(2006, Hong Kong, $150k)
Linekong
(2007, Beijing, $135M)
Forgame
(2009, Guangzhou, $72.8M)
PapayaMobile
(2008, Beijing, $26M)
Ourgame
(1998, Beijing, $5M)
Youzu Interactive
(2004, Shanghai)
NetEase
(1997, Beijing)
Public
Cascadia Interactive
(2010, Taian)
Electric soul network
(2008, Hangzhou)
Flying Fish
Entertainment
(2009, Xiamen)
Sharetimes
(2011, Beijing)
Sincetimes
(2010, Beijing)
Acquired
FunPlus
(2010, Beijing, $86M)
Zs-e.com
(2013, Shenzhen)
Zhexinit
(2010, Hangzhou)
Elex
(2008, Beijing, $3M)
Mob Arts
(2010, Beijing)
Moqikaka
(2011, Sichuan)
HRgame
(2012, Shanghai)
Unicorns
Hero Mutual
Entertainment
(2015, Beijing, $311M)

Recent News in Mobile Gaming Sector
Recent News
26
Mobile Gaming > Feed Summary > Recent News
Mar 2019
YNG Corp secures $30 mil capital commitment, but subject to
approval, The Edge Singapore
Mar 2019 Nexon, Netmarble rushing to roll out console games, The Korea Times
Mar 2019
YuuZoo quits office with unsettled rents; CEO resigns over unpaid
salary, sgsme.sg
Mar 2019
YuuZoo says to close all Singapore operations, lay off staff on
continued trading suspension, sgsme.sg
Mar 2019
GDC 2019: InnoGames looking to acquire new mobile IP, Pocket
Gamer
Mar 2019
Animoca Brands’ subsidiary Zeroth secures investment from Silver
Egg Technology, Proactive Investors
Mar 2019
Comcast to enter gaming; may bid for Korean gaming company
Nexon, Cable Quest
Mar 2019 Goodbye Kansas invests in Framebunker, GamesIndustry
Mar 2019 Tech Companies’ Worries Increase over Brexit, Wccftech
Mar 2019
Fyber partners with Game of Whales to predict user lifetime value
based on IAPs and ads, Pocket Gamer
Mar 2019
Animoca Brands launches new mobile game based on Wonder Park
film, Tech Capital
Mar 2019
DomiNations passes 50 million downloads ahead of Space Age
update, VentureBeat
Mar 2019
Harry Potter: Hogwarts Mystery conjures up $110 million in less
than a year, Pocket Gamer
Key Recent News Key Recent News
Mar 2019
Tag Games partners with NaturalMotion to support CSR Racing 2,
Pocket Gamer
Mar 2019
King launches Pet Rescue Puzzle Saga for iOS and Android,
VentureBeat
Mar 2019
Dwarf Fortress is coming to Steam and Itch.io so nincompoops like
me can finally play it, VentureBeat
Mar 2019 Swrve Names Joe Aleardi as Chief Revenue Officer, GlobeNewswire
Mar 2019
Supercell’s Brawl Stars hits up $150 million in first three months,
Pocket Gamer
Mar 2019 Nexon to release 10 new mobile games in H1, Korea Herald
Mar 2019
AtGames® and SNK Corporation Announce Legendary Classic and
NEOGEO Arcade Video Games to Be Featured in Direct2Drive (D2D)
Digital Download and Streaming Services, Newswire
Mar 2019
Co-living spaces startup StayAbode adds on to pre Series A funding,
Indiatimes
Mar 2019
Harry Potter' Mobile Game Details Unveiled by Pokémon Go
Creators, The Hollywood Reporter
Mar 2019
5th Planet Games secures up to $4.85m for acquisitions,
GamesIndustry
Mar 2019
Pokemon GO': Niantic Opens New Legendary Opportunities During
Lunch Hour, International Business Times
Mar 2019
NHL: Mobile games company Playtika becomes partner of
Canadiens, Deccan Chronicle Holdings

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
27
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Cybersecurity
Feb 2019
ERP
Feb 2019
Loyalty Software
Feb 2019

Investments ($M) and number of rounds in Mobile Gaming; 2012-2019
Global Funding Trends (1/2)
29
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Mobile Gaming > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 30% # of Rounds13% $ Funding
20% # of Rounds
10% $ Funding
$290M
$374M
$525M
$1.6B
$580M
$451M
$1.1B
$770M
0
20
40
60
80
100
120
140
160
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
$1.4B
$1.6B
$1.8B
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

96 78 74 61 51 41 14 4
40
41 54
41
25
26
20
5
11
6 14 13 6 7 6 1
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
147
10
Total # of Rounds
$67M $51M $133M $54M $37M $76M $24M $3M
$161M
$390M
$814M
$297M
$211M
$407M $166M
$42M
$146M $84M
$631M
$230M $203M $661M $579M $245M
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
30
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Mobile Gaming; 2012-2019
Mobile Gaming > Investment Trends > Global Funding Trends
159
68
65
43
33
14 6
388
$1.4M
$5.6M
$0.0M
$2.0M
$4.0M
$6.0M
$8.0M
$10.0M
$12.0M
$14.0M
$16.0M
$18.0M
$20.0M
0
50
100
150
200
250
300
350
400
450
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$1.4M $12.4M $1.8M $1.8M $2.7M $18.2M $1M $5.6M
$275M
$99M
$242M
$1.3B
$359M
$291M
$977M
$641M
0
2
4
6
8
10
12
0
200000000
400000000
600000000
800000000
1E+09
1.2E+09
1.4E+09
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding # of Rounds
Mega Rounds
2 6 10 9 5 10 6 2
$374M
$290M
Total $ Invested

Mobile Gaming > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Mobile Gaming
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 3.3B 258
Seoul 702M 27
Singapore 643M 27
Culver City 408M 13
Helsinki 330M 47
Paris 293M 16
Seongnam-si 139M 13
Seattle 134M 23
London 132M 52
Mumbai 120M 20
Total Funding
482
328
47
58
78
25
30
22
# Rounds
$4.4B
$1.3B
$938M
$660M
$204M
$174M
$64M
$60.8M
US
Europe
South Korea
SEA
India
Japan
Canada
Israel
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$0.9 $0.8
$2.6
$1.3 $0.9
$2.8
$1.9
2012 2013 2014 2015 2016 2017 2018
Mobile Gaming > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Mobile Gaming; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$4K* $91.4M
$500K $533M
$492K $200M
$350K $391M
$20M
$11M
$4M
$554K
Series C+
Series B
Series A
Seed
Stage
$7.8
$20.2
$9.6
$19.5 $18.7
$38.4
$20.2
$16.3 $16.8
$52.6
$25.6
$50.8
$110.1
$144.8
$4.7 $5.3
$18.9
$6.7
$4.4
$6.7 $5.5

Note: 642 companies with undisclosed funding amount are not included
33
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
167
212
84
16
17
No. of Companies
Mobile Gaming > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Mobile Gaming; as of Mar 2019
Distribution of companies by Funding Range
$55M
$764M
$1.7B
$1.2B
$4.6B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
23%
7%
3%
1%
34
Note: Numbers in the brackets show the count of companies
Time to raise
next round
50
106
298
943
4114
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
23% 3%
(107)
3%
(112)
0%
(4)
15%
(599)
62%
(2568)
32% 10%
(92)
10%
(96)
0%
(1)
19%
(177)
50%
(467)
36% 18%
(54)
16%
(49)
- 13%
(38)
52%
(154)
47% 29%
(31)
22%
(23)
- 11%
(12)
42%
(44)
- 44%
(22)
16%
(8)
- 12%
(6)
28%
(14)
Mobile Gaming > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Mobile Gaming
Funding Funnel
19 Months
20 Months
27 Months
Investment backedBootstrapped
18
17
119
60
80
12
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Mobile Gaming > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Mobile Gaming; Mar 2017-Mar 2019
Notable Investments in last 24 months (1/3)
LATE STAGE
$391M - Series E May 2017
Gaming platform provider and eSports league
organizer
GDP Venture, Farallon Capital Management,
Hillhouse Capital Group, Cathay Financial Holdings,
Uni-President, JG Summit Holdings
$245M - Series C Jan 2019
IVP, AXiomatic, Battery Ventures, Causeway Media
Partners, Charles River Ventures, Samsung Venture
Investment, Spark Capital, Google, Alsop Louie
Partners, Founders Fund
$200M - Series C May 2018
Voodoo.io (2013, Paris, $200M)
Goldman Sachs
LATE STAGE
$150M - Series F Sep 2018
web games
Greylock Partners, Altos Ventures Capital, Index
Ventures, Meritech Capital Partners, Tiger Global
Management
$129M - PE Feb 2018
company
Tencent, Netmarble Games Corporation, ACTOZ Soft,
Diandian Interactive, Century Huatong Automotive
Part, Bluehole Studio
$100M - Series C Jun 2018
casual games
LATE STAGE
$90M - Series C May 2017
Mobile Game Developer focusing on Mid-Core games
Tencent
$60M - Series C Jun 2017
casual games
Revolution, Greenspring Associates, Sands Capital
Ventures, Cross Creek Advisors, Pritzker Group
$25M - Series D Sep 2017
apps
Summit Bridge Capital
Series D Mar 2018
apps
NETGEAR

LATE STAGE
Series C Jul 2018
web games
EARLY STAGE
$200M - Series B Nov 2017
Spark Capital, Founders Fund, Meritech Capital
Partners, Javelin Venture Partners, You & Mr Jones,
NetEase
$51.1M - Series B Dec 2017
India Infoline
$41M - Series B Feb 2018
EQT Ventures, Creandum, Spintop Ventures,
PROfounders Capital Partners
$30M - Series B Mar 2019
YuuZoo (2008, Singapore, $51M)
Online portal for shopping, gaming, and social
community
Swiss-Asia Group
EARLY STAGE
$21M - Series B Jun 2018
Oh BiBi (2012, Paris, $25.1M)
Atomico, Korelya Capital
$20M - Series A May 2017
GameMine (2017, Cluj-napoca, $20M)
Subscription-based mobile game publisher and
distributor
Palisades Venture Capital
$20M - Series A Aug 2017
$19M - Series B Aug 2017
Super Evil Megacorp (2012, San Mateo, $63M)
Mobile game developer specializing in the core
games

EARLY STAGE
$18.3M - Series B Feb 2018
ESLGaming, JetSynthesys, LNB Group, Magnum
Honda, DIAM ORGANIC CHEMICAL INDUSTRIES,
Suresh Bhatia, Meena Ashwin Kothari, Mehul Shah,
Radhika Sharma, Uday Vora, Amit Thacker, Nisarg
Vakharia, Sanjay Dangi, Bahram Vakil, Cyrus
Nallaseth, speeds, Akshat Rathee, Dhiren Vora
$9.6M - Series B Nov 2017
Mobile Games developer specializing in Word games
Swedbank Robur
$6.3M - Series A Jun 2018
Critical Force (2012, Kajaani, $10.8M)
Mobile game development and platform
development company
Business Finland
$5.5M - Series A Jan 2019
Lucid Sight (2015, Los Angeles, $9M)
Virtual reality game development studio
EARLY STAGE
$3.5M - Series A Feb 2019
Medal (2015, Naarden, $3.5M)
Tool provider for recording and sharing game
playing clips
Backed VC, Initial Capital, Ridge Ventures, Makers
Fund, Social Starts
SEED STAGE
$27.9M - Angel Dec 2017
Rakesh Jhunjhunwala
$344k - Angel Dec 2017
Rangarajan Radesh, J Govindaraj
Seed Feb 2019
PlayGame (2018, Singapore)
Blockchain-based gaming platform
TRON, Achain

Mobile Gaming > Investment Trends > Notable Investments in last 24 months in China
Notable Investments in last 24 months in China
LATE STAGE
$53.3M - Series C Jul 2017
Haimawan (2013, Beijing, $53.3M)
Mobile gaming appstore and content on mobile
gaming
EARLY STAGE
$40M - Series A Sep 2018
Cocos-BCX (2017, Beijing, $40M)
App development platform for building
decentralized games
Binance, NGC, 500 Startups
$26.1M - Series B May 2017
Xianyu Game (2013, Shenzhen, $26.1M)
Huayi Brothers Media Group, Yao Capital
$26.1M - Series B May 2017
ShenZhen Galaxy Interactive Technology
(2013, Shenzhen, $26.1M)
Mobile gaming company specializing in sports
games
Yao Capital, Huayi Brothers Media Group

Most Active Investors (VC, PE) by Stage in Mobile Gaming; Last 5 years (Mar 2014-Mar 2019)
Most Active VC & PE Investors
39
Mobile Gaming > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Initial Capital (7 Investments)
Strange Quest, Armada Interactive, Winko Games
1
London Venture Partners(6 Investments)
Knock Knock, Whally, Gumbug Games
2
Sunstone(5 Investments)
MojiWorks, Futureplay Games, Everywear Games
3
Business Finland (5 Investments)
Reworks, Koukoi, Futurefly
4
K Cube Ventures(4 Investments)
Affinity, A-33 Studio, Red Sahara Studio
5
Index Ventures(4 Investments)
Armada Interactive, Ministry of Games, Juicebox Games
6
Lifeline Ventures (2 Investments)
MojiWorks, Everywear Games
7
Almi (2 Investments)
Like A Boss, Flarie
8
Creandum (2 Investments)
Armada Interactive, Futureplay Games
9
IPR VC (2 Investments)
Lightneer, Koukoi
10
EARLY STAGE
Northzone (4 Investments)
Klang Games, Seriously, PlayRaven
1
Accel Partners (3 Investments)
Osmo, Industrial Toys, Mech Mocha
2
London Venture Partners(3 Investments)
Futureplay Games, Klang Games, TrulySocial
3
CyberAgent Ventures(2 Investments)
Exys, Geisha Tokyo Entertainment
4
Initial Capital (2 Investments)
Medal, Super Evil Megacorp
5
Creandum (2 Investments)
Peak, Small Giant Games
6
IDG ventures(2 Investments)
Mastermind Studios, Next Games
7
Atomico (2 Investments)
Oh BiBi, Bossa Studios
8
Lowercase Capital (2 Investments)
Mobcrush, Next Games
9
Spark Capital(2 Investments)
Niantic, Proletariat
10
LATE STAGE
Greylock Partners
Roblox
1
Icon Ventures
PlayStudios
2
IVP
Niantic
3
Index Ventures
Roblox
4
Tiger Global Management
Roblox
5
Roblox
6
Battery Ventures
Niantic
7
Charles River Ventures
Niantic
8
Revolution
Scopely
9
Greenspring Associates
Scopely
10

Mobile Gaming > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Mobile Gaming; Last 5 years (Mar 2014-Mar 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
500 Startups(7 Investments)
8SEC, Zya, Touchten
1
Incubate Fund (5 Investments)
Go Game, Inzen Studio, Gumi
2
MassChallenge(5 Investments)
Kahnoodle, Gameblyr, LifeGuard Games
3
Boost VC(5 Investments)
Karobi, Jump, SurrealVR
4
Eleven Ventures(5 Investments)
Bincode Entertainment, Tryad Games, Parudi
5
Y Combinator(3 Investments)
ZowPow Studios, Unnyhog, OMG Pop
6
Wayra(3 Investments)
Ludopia Interactive, Widow Games, The Other Guys
7
Startup Sauna(3 Investments)
Dusk War, COFA Games, Bomb Square
8
NXTP Labs(2 Investments)
Cocodrilo Dog, Pixowl
9
Techstars(2 Investments)
Play Impossible, Fantasmo
10
OTHER NOTABLE INVESTORS
Korea Investment Partners(11
Investments)
Eight Panda, Armada Interactive, Roi Games
1
Tencent(10 Investments)
Kakao Games, VC Mobile Entertainment, CARBON EYED
2
Kima Ventures(5 Investments)
7Elements Studios, Mino Games, Whally
3
Finnvera(3 Investments)
Motorious, Traplight Games, Iron Star Helsinki
4
KTB Ventures(3 Investments)
Rain Mob, Gravity Co., Com2uS
5
Nazara(3 Investments)
Moong Labs, TrulySocial, Hashcube
6
NCSOFT(3 Investments)
This Game Studio, BiNAREE, NOVN
7
Frontier(3 Investments)
Snowfall, Koukoi, Tribe Studios
8
Supercell(3 Investments)
Shipyard Games, Frogmind, Everywear Games
9
Sega Networks(3 Investments)
Play Heart, Space Ape Games, Gumi
10
DEBT INVESTORS
Western Technology Investment(8
Investments)
RockYou, PlayStudios, nWay
1
Mercia Technologies(4 Investments)
Glowmade, Dab Gaming, No Yetis Allowed
2
Silicon Valley Bank(3 Investments)
JAM CITY, Space Ape Games, Games2win Media
3
TPG(2 Investments)
Scopely, Swrve
4
Hercules Capital(2 Investments)
RockYou, MZ (Machine Zone)
5
Harbert Management(2 Investments)
Simplaex, Outplay Entertainment
6
Pinnacle Ventures
Glu
7
The FSE Group
Big Bit
8
Export Development Canada
Big Viking Games
9
Farallon Capital Management
Garena
10

Mobile Gaming > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/7)

Mobile Gaming > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
49
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Early Stage Investors
Market Deep Dive

Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Local Services
Feb 2019
Real Estate Tech
Feb 2019
Mobile Communication
Feb 2019

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.
FACTSHEET
Feed Report - Mobile Gaming - Mar 2019
Marketmap: Mobile Gaming
51
Mobile Gaming > Market Details > BlueBox

Key Sub Sectors
52
Key Sub Sectors in Mobile Gaming
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Game Developers
Game developers specializing in mobile games
Zynga (2007, San Francisco, Public)
3663 792 $6.1B
Gaming Platforms
Companies that allow users to discover and play mobile games
Playphone (2003, San Mateo, Acquired)
120 45 $1.1B
Game Publishers
Ngmoco (2008, San Francisco, Acquired)
170 52 $554M
Gaming Enablers
Companies that enable the mobile gaming ecosystem at various points in the value chain
including monetization, streaming, and game development
Osmo (2013, Palo Alto, Acquired)
RockYou (2005, San Francisco, $165M)
161 54 $531M
Mobile Gaming > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/3)
53
Mobile Gaming > Market Details > Detailed Sector Taxonomy

54

55

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(-)
Game Developers > Casual > Multi Genre
Game developers with a portfolio of casual games across different genre's like action, adventure,
puzzle, arcade, pattern match
(Companies covered 2527 | Funded 413 | Total Funding $2.6B)
$532M
(+$126M)
35
(-38)
Voodoo.io
(2013, Paris, $200M)
2
(+2)
Game Publishers
(Companies covered 170 | Funded 52 | Total Funding $554M)
$259M
(+$248M)
15
(+7)
Kakao Games
(2016, Seongnam-si, $139M)
3
(-)
Game Developers > Mid-Core > Multi Genre > AR-enabled
Game developers focusing on AR-enabled games
$457M
(+$428M)
7
(-2)
Niantic
4
(-2)
Game Developers > Mid-Core > Multi Genre
Game developers with a portfolio multiple mid-core games under different genres like RPG, strategy
(Companies covered 445 | Funded 177 | Total Funding $1.8B)
$129M
(-$42.1M)
15
(-25)
Pocket Gems
5
(-)
Gaming Platforms > Distribution
Companies that provide distribution platforms for the game developers/publishers
$26.5M
(+$24.7M)
3
(-2)
Kuuhubb
(2016, Helsinki, Public)
6
(-)
Gaming Enablers > Development > Tools
Companies providing tools designed specifically for creating games
(Companies covered 19 | Funded 6 | Total Funding $27.8M)
$19.4M
(+$16.3M)
3
(+1)
Mythical Games
(2018, Los Angeles, $16M)
7
(-)
Game Developers > Casual
Game developers focusing on the light games with basic graphics and gameplay targeted at casual
gamers
(Companies covered 49 | Funded 9 | Total Funding $23.4M)
$17.9M
(+$17.9M)
3
(+2)
Tripledot
(2017, London, $8M)
56
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets by Funding in Mobile Gaming in last 2 years (March 2017 - February 2019)
Mobile Gaming > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Game Developers > Mid-Core > Multi Genre > AR-enabled
Game developers focusing on AR-enabled games
(Companies created 60 | Funded 32 | Total Funding $525M )
1 Niantic (2010, San Francisco, $473M)
2
Game Developers > Casual > Multi Genre
Game developers with a portfolio of casual games across different genre's like action, adventure, puzzle,
arcade, pattern match
(Companies created 2527 | Funded 413 | Total Funding $2.6B )
1 Mech Mocha (2013, Bangalore, $9.5M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
57
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (March 2017 - February 2019)
Mobile Gaming > Market Details > Top Markets of Early Stage Investors

Rank Market
Last 2 Years
# of Comp Founded $ Invested # Round Top Funded Company
1
Gaming Platforms
Companies that allow users to discover and play mobile games
12 $541M
(+$541M)
4
(+4)
Garena
(2009, Singapore, $563M)
58
Other Notable Markets with high Entrepreneurial Activity in Mobile Gaming in last 2 years (March 2017 - February 2019)
Mobile Gaming > Market Details > Other Notable Markets

Incubators Y Combinator (#5), Start-Up Chile (#5)
Seed Initial Capital (#4), Sunstone (#4)
Series A/B Accel Partners (#3), Felicis Ventures (#2)
Series C+ CyberAgent Ventures (#1), DCM Ventures (#1)
Small Giant Games Dec - 2018
Acq by Zynga for $560M
FreshPlanet Dec - 2018
Acq by Gameloft
Playa Games Dec - 2018
Acq by Stillfront for $51.1M
Wooga Dec - 2018
Acq by Playtika
Coffee Stain Studios Nov - 2018
Acq by THQ Nordic for $34.8M
A Sweet Studio Oct - 2018
Acq by Fatshark
$30M - Series B
YuuZoo (2008, Singapore, $51M)
$1.5M - Seed
Reworks (2018, Helsinki, $1.5M)
$2.8M - Series A
Sviper (2016, Hamburg, $4.3M)
$3.5M - Series B
Mech Mocha (2013, Bangalore, $9.5M)
$5.6M - Series A
Everywear Games (2014, Helsinki,
$7.9M)
$34.4k - Seed
Roosh Interactive (2013, Mumbai,
$415k)
Mar 2019
YNG Corp secures $30 mil capital commitment, but subject to
approval, The Edge Singapore
Mar 2019
Harry Potter: Hogwarts Mystery conjures up $110 million in
less than a year, Pocket Gamer
Mar 2019
King launches Pet Rescue Puzzle Saga for iOS and Android,
VentureBeat
Mar 2019
AtGames® and SNK Corporation Announce Legendary
Classic and NEOGEO Arcade Video Games to Be Featured in
Direct2Drive (D2D) Digital Download and Streaming
Services, Newswire
Mar 2019
Konami building esports centre in downtown Tokyo,
GamesIndustry
Mar 2019
Gismart Launches Investment Program Within Its Publishing
Division, PR Newswire
Mar 2019
GoMedia Introduces Pioneering GameTrove Service, HITECH
news articles
Mar 2019
Angry Birds Developer Seeks Backers for Its 'Netflix of
Games' Service, New Delhi Television
Mar 2019
End of an era as last monthly event closes on Spells of
Genesis, BlockchainGamer
Mar 2019
Fortune Cup Horse Racing Machine Debuts in Macau, ACN
Newswire
Feb 2019 Sviper Raises $2.8M in Funding, FinSMEs
Feb 2019
Slot Machine Market Growth, Trends and Forecast to 2026:
Konami Gaming, Aristocrat Leisure, Novomatic, Ainsworth,
Multimedia Games, Digital Journal
News
113
33
115
413
2527
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Game Developers > Casual > Multi Genre: Market Factsheet
59
Exits
Recent InvestmentsGame developers with a portfolio
of casual games across different
genre's like action, adventure,
puzzle, arcade, pattern match
MAG Interactive
(2010, Stockholm, $15.6M)
Cayenne's Ark Mobile
(2014, Taipei)
King
(2003, London)
Scopely
(2011, Culver City, $260M)
Voodoo.io
(2013, Paris, $200M)
Top Companies
#1 Top Markets of Investment Activity
Mobile Gaming > Market Details > Market: Multi Genre
Companies Created 2527 | Funded 413 | Total Funding $2.6B
0
50
100
$0k
$1.B
$2.B
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Multi Genre

Game Developers > Casual > Multi Genre: Top Companies
Market: Multi Genre (1/5)
Analyst’s Pick
Casual games developer and publisher for mobile
and web platforms
T. Rowe Price, Google, SoftBank Capital and 26
Other Investors
casual games
JPMorgan Chase & Co., Silicon Valley Bank, Bank of
America Merrill Lynch and 17 Other Investors
Analyst’s Pick
Big Fish (2002, Seattle, $95.2M)
Video Game developer and publisher specializing in
casual games for Mobile and PC platforms.
Balderton Capital, General Catalyst Partners,
Salmon River Capital, Archer Venture Capital
Zynga, EQT Ventures, Creandum and 5 Other
Investors
Mobile Game developer specializing in Casual
games
Unicorn. Stage: Series A
Accel Partners, Atomico, Felicis Ventures
Wooga (2009, Berlin, $32.2M)
Mobile Games developer and publisher specializing
in Casual Games
Minicorn. Stage: Acquired
Highland Capital Partners, Tenaya Capital,
Balderton Capital and 2 Other Investors
Analyst’s Pick
Seriously (2013, Helsinki, $28M)
Mobile Game developer focusing on Mid-Core
games
Editor's Pick. Stage: Series A
Northzone, Korea Investment Partners, Upfront
Oh BiBi (2012, Paris, $25.1M)
Editor's Pick. Stage: Series B
Atomico, Korelya Capital, Time for Growth, Gumi
PopCap (2000, Seattle, $22.5M)
Independent casual game developer and publisher
Peak Games (2010, Istanbul, $19M)
Turkish mobile game development company
Minicorn. Stage: Series A
Earlybird Venture Capital, Hummingbird Ventures

Analyst’s Pick
Mobile Games developer specializing in Word
games
Swedbank Robur, NGP Capital
JetSynthesys (2014, Pune, $15.3M)
Digital entertainment and gaming company
Editor's Pick. Stage: Seed
Kris Gopalakrishnan, Meher Pudumjee, Nikhil
Sawhney and 5 Other Investors
PlayLab (2012, Bangkok, $5M)
Mobile game developer specializing in casual games
Minicorn. Stage: Series B
Monk's Hill Ventures
Koukoi (2015, Oulu, $2M)
Mobile Games developer
IPR VC, Business Finland, Frontier
Analyst’s Pick
Dodreams (2008, Helsinki, $1.1M)
Innovestor
Kopla Games (2015, Tampere, $870k)
Editor's Pick. Stage: Acquired
King (2003, London)
Mobile game developer specializing in Casual
Games
Apax Partners, Mosaic Ventures, Index Ventures,
Lakestar
Playrix (2004, Vologda)
Casual games developer targeting Mobile and Web
platforms
Unicorn. Stage: Unfunded
VNG Corporation (2004, Ho Chi Minh City)
Internet and technology company
CyberAgent Ventures, IDG Ventures Korea, IDG
Ventures Vietnam, Chiratae Ventures
Analyst’s Pick
Miniclip (2001, Neuchatel)
web and mobile games
3D Integer (2013, Riga)
Gaming studio based out of Latvia specializing in
racing games
Editor's Pick. Stage: Unfunded
55pixels (2007, London)
704Games (2015, Charlotte)
Mobile game development and publishing company
Motorsport Network, Leo Capital Holdings, Gaming
Nation
AE Mobile (2010, Boston)
Mobile game developer and publisher specializing
in arcade, cards, racing, and puzzle games
Editor's Pick. Stage: Funded
NGP Capital

Analyst’s Pick
Ahoy Games (2013, Warsaw)
Mobile game development studio famous for board
game Okey
Appricot Studio (2012, Lahore)
Berni Mobile (2013, Burgos)
Mobile game and application development studio
specializing in word games and puzzles
BIT GAMES (2002, Penza)
Dedalord (2010, Buenos Aires)
arcade, racing, and role-playing games
Dimension Technics (2003, Pecs)
Indie game development company
Analyst’s Pick
Drive Ahead (2015, Helsinki)
racing and action games
Duello (2010, Istanbul)
Developer of casual mobile games specializing in
puzzle games and arcade games
EpiCoro Games (2015, Celje)
Indie game development studio specializing in
arcade games
Casual games
Rite Ventures
General Adaptive (2014, Melbourne)
Analyst’s Pick
GenITeam Solutions (2007, Lahore)
Mobile app and game development company
Gismart (2015, London)
Mobile app studio developing games and apps
related to music
IdeaBox (2011, Seoul)
South Korean mobile game development studio
BonAngels Venture Partners
Jansen Games (2015, Rijssen)
Mobile game development studio specializing in
simulation games
Japanese entertainment and video game
development/publishing company

Analyst’s Pick
Kurius Games (2012, Costa Mesa)
puzzle games
Legendary Titans (2013, Saint Petersburg)
Developer of mid-core mobile games specializing in
role-playing games
Level Eight (2011, Umea)
Indie game development company based out of
Sweden
Lion Studios (2018, Palo Alto)
Independent mobile game development studio
Mando Productions (2010, Paris)
Game development company based out of France
Mobadu (2015, Warsaw)
adventure games
Analyst’s Pick
Night Steed (2018, Jastrzebie Zdroj)
Independent mobile game development company
Noble Empire (2010, San Francisco)
Game development company specializing in the
entertainment games
Oddrok (2015, Helsinki)
Mobile Games developer focusing on Casual Games
PixelTrend (2014, Linz)
Mobile game development studio based out of
Austria
Pronetis Games (2015)
Indie game development studio based out of
Romania
Qublix (2003, Toronto)
social, puzzle, card, arcade, and adventure games
Analyst’s Pick
Rabbit Bay Games (2014, Parma)
adventure, puzzle, and board games
Rendered Ideas (2013, Mumbai)
adventure and action games
Rocking Pocket Games (2008, Oakville)
sports games
Starodymov (2013, Kamyshin)
adventure and puzzle games
Superplus Games (2015, Helsinki)
TAPCLAP (2010, Chelyabinsk)
Russia based game developer specializing in mobile
games

Analyst’s Pick
TeamTO (2005, Paris)
France-based game development studio
M Capital Partners
Trizzio (2015, Bangalore)
Mobile-based quizzing game with rewards
U-Play Online (2009, Barcelona)
Indie game development company based in
Barcelona, Spain
Webgames (2010, Moscow)
Game developer and publisher specializing in
adventure and strategy games

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
65
Game Developers > Casual > Multi Genre: Leaderboard
Better than Market Average
Market: Multi Genre
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0
Small Giant
Games
2013 Helsinki Acquired $52M 5 - 5 - - 3.1k 30M 1044.5k 9
404.4
k
63% 486 19%
4.8 JAM CITY 2007 Culver City Acquired $149M 6 5 4 - - 21.9k 197.3M 2536.5k 34
130.3
k
5% 1.6k 8%
4.6 Oh BiBi 2012 Paris Series B $25.1M 2 - 5 - - 35.2k 45M 455k 2 48.5k 12% 373 1%
4.5 Playdemic 2010 Wilmslow Acquired $4M 1 - 5 - - 2.4k 30M 1481.4k 3
263.1
k
22% 488 26%
4.4
MAG
Interactive
2010 Stockholm Public $15.6M 2 - 4 - - 2.6k 78.8M 1557.3k 15 48.4k 3% 54 2%
4.4 Gram Games 2013 London Acquired $600k 3 - 4 - - 3.8k 87.6M 938k 8
177.4
k
23% 96 3%
4.3 Wooga 2009 Berlin Acquired $32.2M 3 - 5 - - 11.7k 159M 2867.8k 6
179.2
k
7% -35 -
4.2 Seriously 2013 Helsinki Series A $28M 4 - 5 - - 3.3k 37.5M 1807.5k 4
139.4
k
8% -3 -
4.2
Outplay
Entertainme
nt
2010 Dundee Series B $9M 2 - 4 - - 3k 78.8M 1368.4k 9 17.7k 1% 16 1%
4.2
Traplight
Games
2010 Tampere Series A $4.6M 3 - 5 - - 1.6k 3M 63.4k 3 2.3k 4% 38 3%
4.2 Zya 2008 Calabasas Series C $43.6M 8 - 5 - - - 7.5M 86.1k 4 12.7k 17% - -
4.2 King 2003 London Acquired - 1 - 4 - - 110.4k 186.8M 3231.7k 42 99.9k 3% 1.4k 1%

Incubators Oasis 500 (#2), 500 Startups (#1)
Seed Sequoia Capital (#1), Sunstone (#1)
Series A/B London Venture Partners (#1), Intel Capital (#1)
Series C+ Tencent (#1), Korea Investment Partners (#1)
Neobazar Dec - 2018
Acq by Kakao Talk for $12.2M
Kongregate Jun - 2017
Acq by Modern Times Group for $55M
Babil Games Dec - 2016
Acq by Stillfront
Aeria Games May - 2016
Acq by Gamigo
Mousebreaker May - 2016
Acq by Spil Games
iCandy Apr - 2016
IPO'd on ASX
YJM Games Dec - 2014
IPO'd on KOSDAQ
$1.3M - Seed
Rogue (2017, Los Angeles, $1.3M)
Angel
nCORE Games (2018, Bangalore)
$5.5M - Series A
Raw Fury (2015, San Francisco, $6.2M)
$125k - Angel
Raw Fury (2015, San Francisco, $6.2M)
$129M - PE
Kakao Games (2016, Seongnam-si,
$139M)
$18.3M - Series B
Mar 2019
Rogue Games raises $1.25 million to publish and scale
mobile games, VentureBeat
Mar 2019
iCandy Interactive buys 20% interest in UK-based video
influencer platform Xcademy, Tech Capital
Feb 2019 Oddbods' Evens Out Endless Runner Game, License Global
Dec 2018
KakaoPage acquires Indonesian top webtoon platform
Neobazar, Pulse
Nov 2018
Three Studios Join Forces On New Warhammer Android
Game, Android Headlines
Nov 2018
iCandy Interactive Extends CryptantCrab Pre-Sale;
Introduces the Xenograft Feature, Newswire
Oct 2018
MDEC partners with iCandy Interactive to promote
blockchain games, The Star Online
Oct 2018 Nazara in talks to buy firms in India, Africa, Indiatimes
Oct 2018
BigCode Games' 'Double Head Shark Attack' Multiplayer
Game to Be Released on Steam on Oct 20, PR Newswire
Sep 2018
Tanks, Planes, and Infantry, Oh My! Final Assault Brings Real
Time Strategy Combat to VR, PRWeb
Sep 2018
Telltale Games could have been saved by AMC, Smilegate
deal, GamesIndustry
Sep 2018
Nazarato create cricket league mobile games; partners with
Cricket Australia, Cable Quest
Aug 2018
Spil Games appoints Patrik Wilkens as new VP of mobile,
Pocket Gamer
Aug 2018
Publisher Tilting Point sets up Barcelona studio to support
live mobile games, Gamasutra
News
18
5
27
52
170
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Game Publishers: Market Factsheet
66
Exits
Recent InvestmentsCompanies that publish mobile
games
iCandy
(2011, Melbourne)
YJM Games
(2004, Gangnam)
Kakao Games
(2016, Seongnam-si, $139M)
MFORMA
Nazara
(2000, Mumbai, $102M)
Top Companies
Mobile Gaming > Market Details > Market: Game Publishers
Companies Created 170 | Funded 52 | Total Funding $554M
0
10
20
30
$0k
$500M
$1.B
2014 2015 2016 2017 2018
Market: Game Publishers

Game Publishers: Top Companies
Analyst’s Pick
company
Soonicorn. Stage: Seed
Tencent, Netmarble Games Corporation, ACTOZ
Soft and 7 Other Investors
ESLGaming, JetSynthesys, LNB Group and 37 Other
Investors
PlayJam (1999, London, $14.6M)
Publishing and technology provider for gaming
industry
Editor's Pick. Stage: Series B
Gate Ventures, Angel CoFund, Adobe and 6 Other
Investors
Appota (2011, Hanoi, $10M)
Mobile platform provider
Editor's Pick. Stage: Series C
Korea Investment Partners, Mirae Asset, GMO
Venture Partners and 2 Other Investors
Analyst’s Pick
MojiWorks (2016, Guildford, $2.8M)
Game publisher for chat platforms
Balderton Capital, Lifeline Ventures, Sunstone
Smilegate (2002, Seongnam-si)
Unicorn. Stage: Funded
Smile Gate Investment
Denali Publishing (2017, San Francisco)
Independent game publishing studio
Dual Cat (2017, Paris)
Indie mobile game publishing studio
GAMEPUB (2015, Seoul)
Mobile game publisher specialized in Strategy and
Simulation games
Hyundai Venture Investment
Analyst’s Pick
Jaludo (2005, Rijssen)
Game publishing company headquartered in the
Netherlands
Megapop (2012, Oslo)
Independent mobile game publishing studio
Millennial Esports (2016, Toronto)
Operator of tournaments
nCORE Games (2018, Bangalore)
Independent mobile game publishing company
Vishal Gondal

68
Game Publishers: Leaderboard
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Kongregate 2006
San
Francisco
Acquired $9M 3 - 4 - - 43k 88.2M 2386k 21
128.8
k
6% 30 -
4.6 Nazara 2000 Mumbai Series B $102M 8 - 4 3 4 845 169M 513.8k 31 76k 17% 16 2%
4.3 Appota 2011 Hanoi Series C $10M 3 - 4 4 4 276 3M 36.8k - 8k 28% - -
4.2 Tamatem 2013
Mountain
View
Series A $3M 4 - 5 - - 20.1k 35.5M 518.1k 3 35.1k 7% -410 -2%
4.1 Spil Games 2000 Amsterdam Series A - 2 - 5 - 5 6.8k 408.4M 3908.8k 5
335.6
k
9% -83 -1%
3.9 Babil Games 2012 Dubai Acquired $150k 1 - 4 - - 199 6.9M 39.3k 1 10k 34% 2 1%
3.8 Tilting Point 2011
New York
City
Unfunded - - - 5 - - 1.2k 750k 15.9k 13 5.1k 47% 51 5%
3.6 GameMine 2017 Cluj-napoca Series A $20M 1 4 4 - 4 1.8k 8.3M 76.3k 13 -9 - -39 -2%
3.6 Raw Fury 2015
San
Francisco
Series A $6.2M 3 - 5 - 3 - 11k 527 4 110 26% - -
3.6
Wizards of
the Coast
1990 Seattle Unfunded - - - 4 4 4 6.5k 3.3M 302.3k 9 14.1k 5% 1.5k 30%
3.6 Xendex 2001 Vienna Series A $5.8M 2 - 4 - - 47 781k 3.1k 1 113 4% - -
3.6 SNSplus 2010 Taipei Public $12.5M 1 - 4 - - - 3.4M 107.2k - 1.3k 1% - -
3.6 Go Game 2015 Singapore Seed - 1 - 5 - - - 3.3M 75k 2 4k 6% - -
3.6 MojiWorks 2016 Guildford Series A $2.8M 2 - - - - - - - 2 - - 51
-
100%

Incubators Techstars (#2), The Alexa Fund (#1)
Seed Signia Venture Partners (#1), Lifeline Ventures (#1)
Series A/B Initial Capital (#1), London Venture Partners (#1)
Series C+ IVP (#1), Battery Ventures (#1)
Compass Engine Sep - 2011
Acq by East Side Games
$245M - Series C
$8.6M - Seed
Illumix (2017, Redwood City, $11.6M)
$1.4M - Seed
Cerberus Interactive (2016, Austin,
$1.4M)
$200M - Series B
$1.3M - Seed
Biba Ventures (2011, Vancouver,
$1.3M)
$874k - Seed
Empower Labs (2015, Hyderabad,
$1.3M)
Seed
Play Impossible (2014, Seattle,
$1.9M)
$1M - Seed
$1.9M)
$79.6k - Convertible Debt
$1.9M)
Mar 2019
Harry Potter' Mobile Game Details Unveiled by Pokémon Go
Creators, The Hollywood Reporter
Mar 2019
Pokemon GO': Niantic Opens New Legendary Opportunities
During Lunch Hour, International Business Times
Feb 2019
Pokémon Go' update gives Android gamers an AR portrait
mode, Engadget
Feb 2019
Pokémon GO' Announces Clamperl Limited Research Day, A
New Pokémon With An Interesting Evolution, Forbes
Feb 2019
Pokémon Go settlement could result in removal of certain
Poké Stops and Gyms, Pocket Gamer
Feb 2019
Niantic is tweaking Pokémon Go to settle a lawsuit with
angry homeowners, The Verge
Jan 2019
Pokémon GO creator Niantic closes $190M funding round,
TechCrunch
Dec 2018
Pokémon Go Developer Niantic Explodes in Valuation,
Looking to the Future, Wccftech
Dec 2018 Pokémon Go trainer battles are now live, IOL
Dec 2018
Player vs Player (PvP) mode in Pokemon Go is now live,
TechJuice
Dec 2018
Pokemon Go update: all the news and rumors for what's
coming next, TechRadar
Dec 2018 Pokémon Go To Introduce PvP Trainer Battles, VRFocus
Dec 2018
Niantic invests in holographic AR display outfit,
GamesIndustry
Dec 2018
Pokemon Go PvP Mode is coming in the Latest Update,
PhoneWorld
News
1
1
4
32
60
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Game Developers > Mid-Core > Multi Genre > AR-enabled: Market Factsheet
69
Exits
Recent InvestmentsGame developers focusing on AR-
enabled games
Niantic
Illumix
(2017, Redwood City, $11.6M)
Play Impossible
(2014, Seattle, $1.9M)
Cerberus Interactive
(2016, Austin, $1.4M)
Empower Labs
(2015, Hyderabad, $1.3M)
Top Companies
Mobile Gaming > Market Details > Market: AR-enabled
0
5
10
$0k
$100M
$200M
$300M
2014 2015 2016 2017 2018
Market: AR-enabled

Game Developers > Mid-Core > Multi Genre > AR-enabled: Top Companies
Market: AR-enabled
Analyst’s Pick
IVP, AXiomatic, Battery Ventures and 18 Other
Investors
Illumix (2017, Redwood City, $11.6M)
Indie AR-enabled game development studio
Maveron, Lightspeed Venture Partners, Unusual
Play Impossible (2014, Seattle, $1.9M)
Augmented reality focused mobile gaming system
Techstars, The Alexa Fund, Indiegogo and 3 Other
Investors
Empower Labs (2015, Hyderabad, $1.3M)
AR based mobile game
Inventcorp, Byrraju Radha, Siddhartha Pagidipati
Analyst’s Pick
Biba Ventures (2011, Vancouver, $1.3M)
Mobile game development company focused on
activity-based games for kids
Greg Zeschuk, Jason Kapalka
AlmaBox (2008, Borgosatollo)
Gaming company developing AR-games and
technology
GrowthX
Augmentors Game (2013, Durban)
Developer of augmented reality games based on the
Bitcoin Blockchain
Newtown Partners
Quiver (2012, Tokyo)
AR app & coloring pages for edutainment
Sparkbox Venture Group, Global From Day One

71
Game Developers > Mid-Core > Multi Genre > AR-enabled: Leaderboard
Market: AR-enabled
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Niantic 2010
San
Francisco
Series C $473M 5 5 - - - 864.8k - - 219 - - 35.5k 4%
3.8
Play
Impossible
2014 Seattle Seed $1.9M 4 4 5 4 4 263 3k 48 - 9 23% 32 14%
3.7 Quiver 2012 Tokyo Funded - - 5 4 - - 4.9k 3.1M 16.8k - 926 6% 860 21%
3.7 Illumix 2017
Redwood
City
Seed $11.6M 2 4 - - 3 221 - - 2 - - 119 117%
3.6
Massive
Damage
2011 Toronto Seed $375k 2 - - - - 3.1k - - 1 - - 337 13%
3.6 Six to Start 2008 London Seed $100k 1 - 4 - - 3.8k 78k 358 - 52 17% 23 1%
3.1 Gbanga 2007 Zurich Funded - 1 - - - - 1.8k - - 1 - - 39 2%
3.0
Run An
Empire
2011 London Seed $185k 1 - - - - 3.1k - - - - - 38 1%
2.9
Biba
Ventures
2011 Vancouver Seed $1.3M 1 - - 2 3 610 - - 2 - - 35 6%
2.9 Geocaching 2000 Seattle Unfunded - - - 4 - - - 7.5M 69.2k 3 5.8k 9% - -
2.5
Augmentors
Game
2013 Durban Seed - 2 - - - 4 4.9k - - 2 - - -170 -3%
2.5
Singular
Social Games
2012 Miami Funded - - - 4 - - 1.4k 4k 34 - 17 100% -26 -2%
2.4
Resource
Game
2017 Rorschach Unfunded - - - 4 - 4 - 750k 21.5k - 2k 10% - -

Companies Created 445 | Funded 177 | Total Funding $1.8B
Market: Multi Genre

Market: Multi Genre

Mobile Gaming > Market Details > Market: Distribution
Market: Distribution

Mobile Gaming > Market Details > Market: Tools
Companies Created 19 | Funded 6 | Total Funding $27.8M
Market: Tools

Market: Tools

Mobile Gaming > Market Details > Market: Casual
Companies Created 49 | Funded 9 | Total Funding $23.4M
Market: Casual

Market: Casual

#1 Other Notable Markets
Mobile Gaming > Market Details > Market: Gaming Platforms
Market: Gaming Platforms

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
88
Notable Acquisitions
Top Acquirers
Acqui-hires

Public companies (1/10)
90
Performance indicators of public companies in Mobile Gaming
IPO Date Company
IPO
Mcap
Exchange
Ticker
Jun 2018
Codemasters (1986, Warwick)
$372M LON:CDM
Dec 2017
MAG Interactive (2010, Stockholm)
Mobile Games developer specializing in Word games
NDAQ:MAGI
Jun 2017
Kuuhubb (2016, Helsinki)
CVE:KUU
May 2017
Netmarble Games Corporation (2000, Seoul)
Game development company based in South Korea
$11.8B KOSDAQ:251270
Apr 2017
WeGames (2013, Taipei)
Developer and publisher of mid-core mobile games
TPE:6626
Oct 2016
Cayenne's Ark Mobile (2014, Taipei)
TPE:6611
Oct 2016
TPE:6169
Oct 2016
Me2On (2010, Gangnam)
Game development studio specializing in social, casino, role-playing
games
$102M KOSDAQ:201490
Sep 2016
Vivid Games (2006, Bydgoszcz)
Video Games developer
WSE:VVD
Apr 2016
Edia (1999, Tokyo)
Designer, developer, and producer of mobile internet applications
and games
$21.8M TYO:3935
Mobile Gaming > Exit Outlook > Public Companies

91
IPO Date Company
IPO
Mcap
Exchange
Ticker
Apr 2016
iCandy (2011, Melbourne)
Independent game publisher headquartered in Australia
$3.9M ASX:ICI
Mar 2016
Akatsuki (2010, Tokyo)
Indie game development company based out of Japan
$231M TYO:3932
Jul 2015
Shoal Games (2015, London)
SGW
Mar 2015
Aiming (2011, Shibuya)
$227M TYO:3911
Dec 2014
Linekong (2007, Beijing)
Mobile Game developer and publisher focusing on Mid-Core games
HKG:8267
Dec 2014
YJM Games (2004, Gangnam)
Publishing company specializes in action, arcade, and adventure
games
KOSDAQ:193250
Dec 2014
ThumbAge (2013, Seongnam-si)
$29M KOSDAQ:208640
Dec 2014
Gumi (2007, Tokyo)
Japanese mobile game developer and publisher specializing in mid-
core games
$754M TYO:3903
Dec 2014
Entermate (2001, Seoul)
$10M KOSDAQ:206400

92
IPO Date Company
IPO
Mcap
Exchange
Ticker
Nov 2014
PATI Games (2011, Seoul)
$193M KOSDAQ:194510
Nov 2014
ACTION SQUARE (2012, Seongnam-si)
$19.3M KOSDAQ:205500
Nov 2014
Flying Fish Entertainment (2009, Xiamen)
Chinese mobile and web game developer
HK:1022
Oct 2014
Devsisters (2009, Seoul)
$535M KOSDAQ:194480
Sep 2014
Netmarble Joybomb (2012, Taipei)
Game development company based out of Taiwan
TPE:6468
Aug 2014
iDreamSky (2009, Shenzhen)
Mobile games developer and publisher
$635M NASDAQ:DSKY
Jul 2014
Ignis (2010, Shibuya)
$110M TYO:3689
Jun 2014
Ourgame (1998, Beijing)
Online card and leisure games developer
6899
Jun 2014
SNSplus (2010, Taipei)
Video Game Publisher focused on Online and Mobile games
TPE:6473
Mar 2014
King (2003, London)
Mobile game developer specializing in Casual Games
$7.1B NYSE:KING

93
IPO Date Company
IPO
Mcap
Exchange
Ticker
Oct 2013
IGG (2005, Singapore)
Video game developer and publisher focusing on MMORPGs for
mobile, browser and PC platforms
HK:8002
Aug 2013
NHN Entertainment (2013, Santa Monica)
KOSDAQ:181710
Aug 2013
Gaming Realms (2011, London)
Game company
$29.2M LON:GMR
Jul 2013
Crooz (2001, Tokyo)
TYO:2138
Mar 2013
AltPlus (2010, Tokyo)
Game development company
$62.5M TYO:3672
Jan 2013
Com2uS (1998, Seoul)
KOSDAQ:78340
Dec 2012
COLOPL (2008, Tokyo)
Mobile Games developer and publisher
TYO:3668
Apr 2012
Ateam (2010, Nagoya)
Mobile game development and lifestyle content development
company
TYO:3662
Dec 2011
Zynga (2007, San Francisco)
Casual games developer and publisher for mobile and web platforms
$7B NASDAQ:ZNGA

94
IPO Date Company
IPO
Mcap
Exchange
Ticker
Dec 2011
NEXON (1994, Seongnam-si)
Game development and publishing company specializing in action,
strategy and role-playing games
TYO:3659
Nov 2010
SundayToz (2009, Seongnam-si)
Video Game developer focusing on Casual games for Mobile and Web
platforms
KOSDAQ:123420
Dec 2009
WeMade Entertainment (2000, Seoul)
Video game developer specializing in MMORPGs
$441M KOSDAQ:112040
Jun 2009
GAMEVIL (2000, Seoul)
Mobile Games developer and publisher focusing on Mid-Core games
$336M KOSDAQ:63080
Jun 2009
JOYMAX (1997, Seongnam-si)
Mobile game development company specializing in mid-core fantasy
games, action, and arcade games
$138M KOSDAQ:101730
Apr 2009
ChangYou (2003, Beijing)
Chinese social game developer
$120M NASDAQ:CYOU
Dec 2008
Mgame (1997, Seoul)
Korea-based game development and publishing company
$35.4M KOSDAQ:58630
Mar 2008
AXEL MARK (1994, Tokyo)
Mobile game development company engaged in planning and
development of games
TYO:3624

95
IPO Date Company
IPO
Mcap
Exchange
Ticker
Apr 2007
Animocabrands (2006, Hong Kong)
Mobile Games developer focusing on franchise based casual games
$5.4M ASX:AB1
Mar 2007
Glu (2001, San Francisco)
Mobile game developer and publisher specializing in mid-core games
$327M NASDAQ:GLUU
Oct 2006
Mobile Games developer and publisher focusing on Casual games
G5EN:STO
Sep 2006
Mixi (2006, Shibuya)
Japanese holding company developing games and social apps
TYO:2121
Feb 2005
DeNA (1999, Shibuya)
Social mobile game platform and provider of mobile services
TYO:2432
Feb 2005
Gravity Co. (2000, Seoul)
Online game developer based in South Korea
$375M NASDAQ:GRVY
Jul 2004
Kongzhong (2002, Beijing)
Mobile and web games developer and publisher
$342M NASDAQ:KONG
Jan 2002
NetEase (1997, Beijing)
Chinese game development and publishing company for MMORPGs
NTES
Jun 2000
Gameloft (1999, Paris)
GFT
Nov 1997
Dragonfly (1995, Gangnam)
Independent game development company headquartered in South
Korea
KOSDAQ:30350

96
IPO Date Company
IPO
Mcap
Exchange
Ticker
Feb 1988
Japanese entertainment and video game development/publishing
company
TYO:9766
Electric soul network (2008, Hangzhou)
Game developers
MyGO Games (2014, Austin)
Mobile & PC games developer
Sharetimes (2011, Beijing)
Mobile games publisher
COMSEED (1991, Chiyoda-ku)
Game development service provider
Youzu Interactive (2004, Shanghai)
Video game developer and publisher focusing on browser and
mobile games
User Joy (1997, Taipei)
Tapinator (2013, New York City)
T-Bull (2010, Wroclaw)
Mobile Games developer focusing on Casual Racing games
WSE:TBL

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