Coin Master developer Moon Active has completed a $300 million secondary funding round, at a valuation of $5 billion.
As reported by Calcalist, the funding round was led by Insight Partners and featured participation from Andalusian Private Capital.
Insight Partners previously invested $125 million into Moon Active in 2020, at a valuation of $1.25 billion.
Moon Active generated $1.25 billion throughout 2020, with the Israel-based firm projecting revenues of $1.5 billion for 2021.
Currently, Moon Active has a headcount of 1,300 with 800 staff located in its Tel Aviv headquarters. The firm has recruited over 400 employees since the start of 2021.
Up, up, and up
"We are very pleased with the partnership with Insight Partners, which continues to believe in the company, its vision and its talented team, and we are happy to bring in Andalusian Private Capital," said Moon Active CEO Samuel Albin (via Calcalist).
"Looking ahead to the coming years we see potential for endless growth and this is only the beginning. We took significant steps this year in our goal to become the world's most successful mobile gaming company and invested many resources in developing our technological platform and many abilities that support and accelerate our games and provide us with a competitive advantage.
"We have developed several new games in several categories and are also targeting growth via mergers and acquisitions of different sizes.
"They say that human capital is the most important factor in the success of a company. That isn't true. Human capital is the only important factor in the success of a company and that is the secret to our success."
According to a recent report from Sensor Tower, between August 2020 and September 2021, Coin Master generated the highest revenue of a casino mobile game in the US, generating $651 million.