US mobile publisher Tilting Point has closed its first equity investment round, raising $235 million.
The funding was led by General Atlantic with participation from strategic investors Red Ventures and Kamerra. The funding will allow Tilting Point to accelerate its pipeline of studio acquisitions.
It will also enable it to expand its publishing model in terms of signing up more developers to accelerate their live ops and co-develop more titles. Tilting Point is planning to expand its operations in China, as well as supporting new platforms such as Facebook Gaming and Nintendo Switch too.
Tilting Point currently has more than 40 developer partners including JoyCity and NukeBox. Such companies gain access to Tilting Point's capital and expertise to scale their mobile free-to-play games through user acquidisition funding, app store optimisation, ad monetisation and platform deployment.
"We are ready to take Tilting Point to the next level," said Tilting Point co-CEO Kevin Segalla.
"With this financing, we plan to expand our operations and aggressively pursue larger M&A opportunities with our top developer partners. We are very excited to have premier investors coming aboard our journey."
General Atlantic co-president and global head of technology investing Anton Levy added: "Tilting Point has pioneered the progressive publishing model and has a distinct perspective around game identification, acquisition, development and partnership.
"Already a high-growth business, we believe Tilting Point has room to capture additional significant opportunity in the vast mobile gaming market."
Earlier this year, Tilting Point committed up to $10 million to scale Storytaco's dating simulator Dangerous Fellows and a further $60 million for Loop Games' Match 3D.
We also caught up with NukeBox and Tilting Point to find out how the studios made SpongeBob Krusty Cook-Off ready for soft launch in 10 months.