Highland leads $30m round for Social Point

One of the company's existing backers, Idinvest, also participated in the funding round.

Previous investors Nauta Capital – Social Point's first institutional backer – BBVA and the company's founders have reduced their stakes, selling some of their shareholding to Highland and other shareholders.

Social Point plans to release three new games during the second half of 2014 and a further four next year. The business also expects to use the fresh funding to expand into Asia.

Previous investment
In 2011, Nauta injected €2.4m into the business, marking Social Point's first round of institutional funding, according to unquote" data. The following year, France-based Idinvest led a €6m round for the business, with co-investment provided by Nauta and BBVA.

In 2013, US-based Greylock Partners committed a further $2.4m to the firm.

Company
Founded in 2009 and based in Barcelona, Social Point develops mobile social gaming. The company began as a game developer for the Facebook platform, though it has since expanded to develop mobile games for iOS and Android.

The business employs 210 international developers, designers and business development professionals and has 150 million users.

Social Point is expected to generate revenues north of $100m this year.

People
Laurence Garrett is a partner at Highland.

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• Topics
• Southern Europe
• Technology
• Expansion
• Spain
• Nauta Capital
• Highland Capital Partners
• IDInvest Partners (AGF Private Equity)