Crunchyroll Acquisition, Valuation, Funding & Investors

Crunchyroll was acquired by Funimation for $1.2B in December 2020.

Crunchyroll acquisition price

$1.2B

Acquired by Funimation · Dec 2020

Cumulative funding Crunchyroll raised

$22M

across 1 funding round

Key investors in Crunchyroll

  • Otter Media

Crunchyroll Overview

About Crunchyroll

Crunchyroll is an anime streaming service, founded in 2006, that offers simulcasts and a library of popular anime series including Naruto Shippuden and Sailor Moon Crystal across North America, Europe, and Latin America. The platform differentiates itself from broad entertainment services by targeting anime fans specifically, complementing streaming with original content, ecommerce, and licensing and distribution of Japanese anime and manga through subsidiaries in Europe. Crunchyroll has expanded internationally to balance its revenue between North American and other markets.


Founded

2008

HQ

JapanTokyo

Status

Acquired

Customer focus

B2C

Revenue model

Subscription

Valuation

$1.2B (acquired Dec 2020)

Crunchyroll Acquisition

Crunchyroll was acquired by Funimation for $1.2B on 9 December 2020.

Before the acquisition Crunchyroll had raised $22M across 1 funding round.

Crunchyroll acquisition details
AcquirerDateTypePrice
  • Funimation
9 Dec 2020Strategic M&A$1.2B

Crunchyroll Funding History

Crunchyroll has raised a total of $22M across 1 funding round.

Crunchyroll funding rounds

Crunchyroll funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2015Undisclosed stageOtter Media (lead)$22MCrunchyroll, operating under parent company Ellation, is an anime streaming service founded in 2006, offering simulcasts of popular series like Naruto Shippuden and Sailor Moon Crystal in regions including North America, France, Spain, Portugal, Italy, and Latin America. In November 2015, Otter Media invested $22 million in Ellation to expand product and engineering capabilities, support original content initiatives, and fund a joint venture with Sumitomo Corporation for anime co-productions. At the time, Crunchyroll reported 20 million registered users, with projections for 750,000 paid subscribers by year-end 2015 (up from 700,000 the prior month), and monthly viewership of 1.5 billion minutes of anime, 80% from English-speaking North American users. This investment followed Otter Media's prior majority acquisition of Crunchyroll in December 2013 by The Chernin Group, part of Otter Media's portfolio as a joint venture with AT&T. Early investors included TV Tokyo and Bitway with $750,000 each in 2010. The 2015 round was described as corporate funding rather than traditional VC, providing a predictable capital path while maintaining a startup-like structure. Crunchyroll positioned itself as a niche service super-serving anime fans, differentiating from broad platforms like Netflix and Hulu by focusing on depth for passionate audiences. Funds targeted engineering growth and originals, potentially more lucrative than licensing foreign rights. Later developments included Otter Media acquiring remaining minority stakes in Ellation from TV Tokyo in 2018, achieving full ownership.

Who has invested in Crunchyroll?

1 investor has backed Crunchyroll across its funding rounds, including Otter Media.

Lead investors include Otter Media.


Crunchyroll Investors

Investors in Crunchyroll by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Crunchyroll

Crunchyroll has acquired 3 companies to date.

Last acquisition by Crunchyroll was on August 4th 2022. Crunchyroll acquired Right Stuf for undisclosed valuation.


Latest Acquisitions by Crunchyroll

Right Stuf
Viz Media Europe
Redux
Description
Right Stuf is a Des Moines-headquartered e-commerce retailer of anime merchandise including DVDs, Blu-rays, manga, and soundtracks. Acquired by Crunchyroll in 2018, it ships worldwide from Iowa warehouses, offering exclusive editions from studios like Aniplex and Sentai Filmworks. The platform maintains a catalog of over 10,000 titles for collectors and fans.
-
Redux is a video discovery platform that curates personalized channels mimicking cable TV experiences. Users access programmer-selected content from YouTube and other sources through lean-back interfaces shared by friends and tastemakers. Redux operates in the United States, emphasizing effortless browsing of online videos without search fatigue.
HQ CountryUnited StatesFranceUnited States
HQ City
Des Moines, IA
Paris
San Francisco, CA
Deal Date4 Aug 20226 Sep 201912 Jun 2014
Valuationundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Crunchyroll Competitors

Crunchyroll competitors include listed companies like Saregama India and Viaplay, and private ones like NewsBreak, Kuaikan Manhua, Substack and Tango Me.

Public and private companies comparable to Crunchyroll
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
NewsBreakUnited StatesSan Francisco, CAPrivate--$1.1B-
Kuaikan ManhuaChinaBeijingPrivate$50M-$1.3B25.0x
SubstackUnited StatesSan Francisco, CAPrivate$50M-$1.1B22.0x
Tango MeUnited StatesSan Francisco, CAPrivate--$1.1B-
Saregama IndiaIndiaIndiaPublicly listed$100M$36M$979M8.6x
ViaplaySwedenSwedenPublicly listed$1.8B($40M)$631M0.6x

Crunchyroll Public Comps

Crunchyroll is no longer listed, but its public comps include FuboTV, iQIYI, MNC Digital Entertainment, Saregama India, Storytel, Nine Entertainment, Zee Entertainment, Stingray Group, Skyworth Digital and MBC Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
FuboTV$1.6B($122M)1.9x0.5x(25.2x)23.6x
iQIYI$4.1B$2B0.6x0.7x1.3x104.4x
MNC Digital Entertainment$216M$73M4.7x-14.0x-
Saregama India$100M$36M9.7x8.6x26.8x24.6x
Storytel$410M$71M2.3x2.1x13.2x10.5x
Nine Entertainment$1.6B($279M)1.3x1.3x(7.2x)6.9x
Zee Entertainment$843M$43M0.6x0.6x12.5x8.9x
Stingray Group$328M$28M3.5x2.9x40.8x8.5x

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Common questions about Crunchyroll

When was Crunchyroll founded?Crunchyroll was founded in 2008.
Where is Crunchyroll headquartered?Crunchyroll is headquartered in Tokyo, Japan.
Is Crunchyroll publicly listed?No, Crunchyroll was acquired by Funimation in December 2020.
Who acquired Crunchyroll?Crunchyroll was acquired by Funimation in December 2020.
How much was Crunchyroll acquired for?Crunchyroll was acquired for $1.2B in December 2020.
How much funding has Crunchyroll raised?Crunchyroll has raised $22M across 1 funding round.
What was Crunchyroll's last funding round?Crunchyroll's last funding round was a $22M undisclosed-stage round in November 2015, led by Otter Media.
Who are Crunchyroll's investors?Crunchyroll's investors include Otter Media.
Which companies are comparable to Crunchyroll?Companies comparable to Crunchyroll include NewsBreak, Kuaikan Manhua, Substack, Tango Me, Saregama India and Viaplay.
How many companies has Crunchyroll acquired?Crunchyroll has acquired 3 companies, including Right Stuf, Viz Media Europe and Redux.

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