A24 Valuation, Funding & Investors

A24 is valued at $3.5B as of June 2024.

See full A24 profile

Last A24 valuation

$3.5B

Undisclosed stage · Jun 2024

Last A24 funding round

$75M

Strategic investment · Jun 2026

Cumulative funding A24 raised

$375M

across 3 funding rounds

Key investors in A24

A24 Overview

About A24

A24 is a New York City-based independent entertainment company specializing in film distribution, production, and television series. The studio has released acclaimed titles like Ex Machina, Room, Moonlight, Hereditary, and Everything Everywhere All at Once, securing 24 Academy Award nominations including wins for Best Picture, Best Actress, and Best Visual Effects. A24 partners with platforms like DirecTV Cinema and Amazon Prime, expanding into TV with shows such as Euphoria and Beef.


Founded

2012

HQ

United StatesUnited States

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Valuation

$3.5B (Jun 2024)

A24 Valuation

A24 is currently valued at $3.5B, based on its undisclosed-stage round in June 2024.

The $75M round was led by Thrive Capital, with participation from IPR.VC, Neuberger Berman and Stripes.

A24's valuation has grown 1.4x from $2.5B at its undisclosed-stage round in March 2022 to $3.5B in June 2024, across 2 priced rounds.

A24 valuation by funding round

A24 valuation by funding round
DateStageValuation
Jun 2024Undisclosed stage$3.5B
Mar 2022Undisclosed stage$2.5B

A24 Funding History

A24 has raised a total of $375M across 3 funding rounds.

A24's first fundraising round was a $225M undisclosed-stage round in March 2022. The most recent completed round was a $75M strategic investment round in June 2026.

A24 funding rounds

A24 funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2026Strategic investmentBradley Horowitz (lead)$75M-Google (via DeepMind) invested approximately $75 million in A24, the independent film studio known for recent successes including 'Backrooms' and 'Everything Everywhere All At Once,' as part of a multi-year artificial intelligence research partnership to co-develop AI-driven tools for film creation and distribution. This investment is tied directly to the AI collaboration and is not part of a capital raising effort, marking Google's inaugural stake in a movie studio. The strategic rationale centers on leveraging A24's creative expertise alongside DeepMind's AI capabilities to build innovative filmmaking technologies, with potential synergies in content creation and distribution tools for artists. A24 previously raised $250 million in a 2024 funding round led by Thrive Capital (which backs OpenAI), valuing the studio at $3.5 billion, with additional private investments from firms like Stripes. The studio operates as a leading independent film producer with a focus on horror, drama, and art-house cinema, though specific revenue, EBITDA, employee count, and operational scale metrics were not disclosed in available reports.
Jun 2024Undisclosed stageThrive Capital (lead); IPR.VC; Neuberger Berman; Stripes$75M$3.5BA24, the independent Hollywood studio known for critically acclaimed films like 'Everything Everywhere All at Once,' 'Civil War,' 'Uncut Gems,' 'Hereditary,' and 'Lady Bird,' as well as TV series such as 'Euphoria,' 'Beef,' and 'The Sympathizer,' secured a new funding round on June 26, 2024, led by Thrive Capital. The round valued the company at $3.5 billion post-money, a 40% increase from its $2.5 billion valuation in the 2022 round led by Stripes, which raised $225 million. Sources indicate the latest round raised approximately $100 million, though one report mentions rumors of up to $250 million, with Thrive contributing significantly, including $75 million per some accounts. Thrive Capital founder Josh Kushner is joining A24's board, and existing investors participated. The investment supports A24's expansion amid Hollywood's production slowdown, building on recent commercial successes like 'Civil War,' A24's most expensive film with a $50-75 million budget that grossed over $120 million globally and marked the studio's second film to exceed $100 million at the box office. A24 has shifted toward bigger-budget films with broader appeal while maintaining its indie reputation for arthouse and horror genres, including Oscar winners like 'Moonlight.' Previously, A24 explored a sale at $2.5-3 billion a few years ago but now commands a higher valuation. Outside investors hold about 12.5% of the company, with founders Daniel Katz, David Fenkel, and John Hodges retaining majority control alongside employees. The funding aligns with Thrive's investments in tech and media like Instagram, Spotify, Stripe, and OpenAI, positioning A24 to innovate in entertainment through creative talent, business models, and technology.
Mar 2022Undisclosed stageNeuberger Berman (lead); Stripes (lead)$225M$2.5BA24, an independent film studio known for acclaimed films including Moonlight and Uncut Gems, raised $225 million in equity funding in March 2022, valuing the company at $2.5 billion USD. The investment was led by Stripes, a private equity firm founded by Ken Fox, with Neuberger Berman co-leading a group of investors. Stripes and its co-investor group held less than 10% of the company, with Ken Fox joining A24's board as part of the deal. This marked A24's first equity raise since its initial seed funding from minority stakeholders at Eldridge. The company was recognized for its distinctive brand identity and culture centered on creator empowerment, with investors citing the authenticity of A24's brand and its long-term strategic vision as key factors in the investment decision. The round came approximately six months after reports that A24 had explored sale options at roughly $3 billion valuation, though those discussions did not result in a transaction.

Who has invested in A24?

5 investors have backed A24 across its funding rounds, including Stripes, Neuberger Berman, Thrive Capital, Bradley Horowitz and IPR.VC.

Lead investors include Bradley Horowitz, Thrive Capital, Neuberger Berman and Stripes.


A24 Investors

Investors in A24 by funding rounds participated
InvestorHQRoundsRoleFirst check
Neuberger BermanUnited StatesNew York City, NY2LeadMar 2022
StripesUnited StatesNew York City, NY2LeadMar 2022
IPR.VCFinlandFinland1ParticipantJun 2024

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Acquisitions by A24

A24 has acquired 1 company to date.

Last acquisition by A24 was on March 3rd 2023. A24 acquired Cherry Lane Theatre for $10M.


Latest Acquisitions by A24

Cherry Lane Theatre
Description
Cherry Lane Theatre is an off-Broadway venue dedicated to developing new plays. Located at 38 Commerce Street in New York City's West Village, it hosts the annual Cherry Lane Alternative program and studio readings for emerging playwrights. Established in 1925, the 179-seat theater has premiered works by authors such as Samuel Beckett, Eugene Ionesco, and Edward Albee, fostering American drama through unsubsidized productions.
HQ CountryUnited States
HQ City
New York City, NY
Deal Date3 Mar 2023
Valuation$10M
EV/Revenue
EV/EBITDA

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Investments by A24

A24 has invested in 1 company to date.

Latest investment by A24 was on March 8th 2023. A24 invested in gamma in their $1B Undisclosed stage round.


Latest Investments by A24

gamma
Description
gamma is a Los Angeles-based media and music company that equips artists with tools for content creation, distribution, and monetization. The platform hosts a creator marketplace connecting musicians with producers, visual artists, and marketers. gamma manages artist brands through social media strategies, NFT drops, and merchandise lines. Notable projects include collaborations with independent hip-hop acts and electronic producers, enabling direct fan engagement via tokenized assets and live streaming events.
HQ CountryUnited States
HQ City
Los Angeles, CA
Deal Date8 Mar 2023
RoundUndisclosed stage
Raised$1B
InvestorsApple; Eldridge Industries
Valuationundisclosed
EV/Revenue
EV/EBITDA

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A24 Competitors

A24 competitors include listed companies like China Film Group, ITV plc, Lionsgate Studios and Canal+, and private ones like Six Nations Rugby and Luma AI.

Public and private companies comparable to A24
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
China Film GroupChinaChinaPublicly listed$721M$70M$3.6B3.2x
ITV plcUnited KingdomUnited KingdomPublicly listed$4.7B$596M$3.4B0.9x
Six Nations RugbyIrelandDublinPrivate--$3.4B-
Lionsgate StudiosCanadaCanadaPublicly listed$2.6B$1.1B$3.4B2.4x
Canal+FranceFrancePublicly listed$8B$749M$3.3B0.7x
Luma AIUnited StatesSan Francisco, CAPrivate$50M-$4B-

A24 Public Comps

A24 is still privately-owned, but its public comps include China Film Group, ITV plc, Lionsgate Studios, Canal+, FUJI Media Holdings, Banijay Group, Toei Animation, Perfect World Co., Imax and Oriental Pearl Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
China Film Group$721M$70M3.3x3.2x33.9x23.7x
ITV plc$4.7B$596M0.9x0.9x7.3x5.7x
Lionsgate Studios$2.6B$1.1B2.7x2.4x6.3x22.8x
Canal+$8B$749M0.8x0.7x8.7x5.8x
FUJI Media Holdings$3.5B$386M2.0x1.9x18.5x32.5x
Banijay Group$5.6B$954M2.0x1.7x11.7x8.9x
Toei Animation$602M$218M5.8x5.6x16.1x17.3x
Perfect World Co.$993M$170M2.4x2.1x13.9x10.9x

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Common questions about A24

When was A24 founded?A24 was founded in 2012.
Where is A24 headquartered?A24 is headquartered in United States.
Is A24 publicly listed?No, A24 is a private, VC-backed company.
What is A24's valuation?A24 was last valued at $3.5B in its undisclosed-stage round in June 2024.
How much funding has A24 raised?A24 has raised $375M across 3 funding rounds.
What was A24's last funding round?A24's last funding round was a $75M strategic investment round in June 2026, led by Bradley Horowitz.
Who are A24's investors?A24's investors include Neuberger Berman, Stripes, IPR.VC, Bradley Horowitz and Thrive Capital.
Which companies are comparable to A24?Companies comparable to A24 include China Film Group, ITV plc, Six Nations Rugby, Lionsgate Studios, Canal+ and Luma AI.
How many companies has A24 acquired?A24 has acquired 1 company, including Cherry Lane Theatre.
What was the largest acquisition by A24?The $10M acquisition of Cherry Lane Theatre in March 2023 is the largest acquisition A24 has made to date.
How many companies has A24 invested in?A24 has invested in 1 company, including gamma.
What was A24's last investment?In March 2023, A24 invested in gamma's $1B undisclosed-stage round alongside Apple and Eldridge Industries.

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