Another video game company is taking off.
The popular game developer Scopely has raised up to $125 million in a new round of financing that values the company and the money at an estimated $795 million, according to a fundraising document obtained by PitchBook — a valuation that may seem high but describes a company that is profitable and says it has more than 125 million active players.
The Los Angeles-based company specializes in developing and distributing free mobile games and is behind hits like The Walking Dead: Road to Survival and WWE Champions. Not all venture capitalists are hot on the gaming sector, but Scopely has attracted past financing from firms like Greycroft Partners and Revolution, led by AOL co-founder Steve Case.
Some video game companies have proven to be quite valuable, like the private company Machine Zone or public company Activision Blizzard.
The investors behind this new round of financing could not be learned. The investment and valuation figures reflect what the company is merely now authorized to raise — the company could always raise less.
Scopely declined to comment.
This article originally appeared on Recode.net.