LatAm List – Wildlife Studios, a Brazilian mobile gaming startup, recently raised a $60M Series A at a $1.3B valuation, becoming Brazil’s eleventh unicorn. A $60M Series A is large even by Silicon Valley standards, and it is very rare for a company to reach unicorn status in such an early round, although Brazil has the majority of the region’s $1B+ companies.
The round was led by US-based fund Benchmark Capital, which has previously invested in Snapchat, Riot Games, and Instagram. Prior to the current round, the company had only received capital from one investor: Bessemer Capital Partners.
Wildlife was founded in 2011 by brothers Victor and Arthur Lazarte and has offices in São Paulo, Buenos Aires, Dublin, San Francisco, Palo Alto, and Orange County, California. They plan to use the capital to grow to over 800 employees and a $2B+ valuation by the end of 2020.
Wildlife Studios has created more than 60 games that operate on a freemium model, charging users only for in-app purchases. They have experienced +80% growth since 2011.