Brazilian mobile games specialist Wildlife has secured $120 million in a Series B funding round.
The investment was led by Venture Capital, with existing investor Human Capital adding further funds. The money will be used to expand the business, which currently has a set up in five locations worldwide.
Following its latest round of funding, Wildlife Studios is now valued at $3bn. This is more than twice what it was worth back in December 2019, when it received a $60 million investment at a company valuation of $1.3 billion.
On the rise, the company founded by brothers Arthur and Victor Lazarte has seen a growth of 70 per cent per year. Furthermore, two of its mobile titles – Zooba and Tennis Clash – have hit the two billion downloads mark, while its full library sees 100 million monthly active users.
"Unlike other gaming companies that raise funds to buy games, we will use most of the resources from this round to expand our creative powerhouse," said co-founder Arthur Lazarte.
Co-founder and CEO Victor Lazarte added: "Over the next two years, we plan to invest up to $200 million to make Wildlife the go-to place for the best game designers in the world."