Dapper Labs Valuation, Funding & Investors
Dapper Labs is valued at $7.6B as of September 2021.
Last Dapper Labs valuation
$7.6B
Series D · Sep 2021
Last Dapper Labs funding round
$5M
Series A · Nov 2022
Cumulative funding Dapper Labs raised
$613M
across 7 funding rounds
Key investors in Dapper Labs
Andreessen Horowitz
Coatue
GV
Coinbase Ventures
Union Square Ventures
Animoca Brands
About Dapper Labs
Dapper Labs is a Vancouver-headquartered blockchain enterprise founded in 2018. It powers NBA Top Shot, the leading NFT marketplace for basketball collectibles, and develops the Flow blockchain for scalable consumer applications. Dapper Labs engages sports leagues like NFL and UFC through digital fan experiences via dapperlabs.com.
Founded
2018
HQ
VancouverWebsite
Status
Privately held
Customer focus
B2B & B2C
Revenue model
Commission
Valuation
$7.6B (Sep 2021)
Dapper Labs Valuation
Dapper Labs is currently valued at $7.6B, based on its Series D in September 2021.
The $250M round was led by Coatue, with participation from North Island Ventures, GV, True Capital Management, GIC, June Fund and 4 other investors.
Dapper Labs' valuation has grown 2.9x from $2.6B at its Series C in March 2021 to $7.6B in September 2021, across 2 priced rounds.
Dapper Labs valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2021 | Series D | $7.6B |
| Mar 2021 | Series C | $2.6B |
Dapper Labs Funding History
Dapper Labs has raised a total of $613M across 7 funding rounds.
Dapper Labs' first fundraising round was a $13M Series A in March 2018. The most recent completed round was a $5M Series A in November 2022.
Dapper Labs funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2022 | Series A | North West Quadrant Ventures ( NWQ Ventures); Ahimsa Capital; Perle Ventures | $5M | - | Dapper Labs raised $5.06M in an unattributed round on November 21, 2022. |
| Sep 2021 | Series D | Coatue (lead); North Island Ventures; GV; True Capital Management; GIC; June Fund; Andreessen Horowitz; Version One Ventures; Bond; Blisce | $250M | $7.6B | Dapper Labs, the company behind NBA Top Shot and the Flow blockchain, raised $250 million in a funding round on September 22, 2021, led by Coatue with participation from existing investors Andreessen Horowitz (a16z), GV (Google Ventures), Version One Ventures, and new investors including BOND and GIC. The round valued the company at $7.6 billion post-money. Funds were intended to scale operations and support new brand-driven sports, entertainment, and music products on the Flow blockchain. The round followed a year of rapid growth for Dapper Labs' flagship product NBA Top Shot, which while in open beta grew 30x in 2021, recording over $780 million in collectibles bought and sold, more than 1.1 million registered accounts (with over 48% owning at least one moment), and over 13 million transactions. CEO Roham Gharegozlou emphasized sustainable growth and accelerated product development including mobile apps and non-custodial wallets. Dapper Labs focuses on mainstreaming decentralized technologies through NFTs and blockchain, with NBA Top Shot as a leading marketplace. This Series D round brought total funding to around $608 million at the time, positioning the Vancouver-based firm as a unicorn in the crypto and NFT space amid blockchain's potential for technology evolution. |
| Mar 2021 | Series C | Coatue (lead) | $305M | $2.6B | Dapper Labs, a Vancouver-based blockchain software company known for products like NBA Top Shot, CryptoKitties, and the Flow blockchain, closed a $305 million Series 5-A Preferred financing round on March 30, 2021, led by Coatue with participation from Michael Jordan, Kevin Durant, a16z, over 30 NBA and NFL players, and other VCs including Venrock, USV, and Ashton Kutcher's Sound Ventures. This round brought the company's total capital raised to $357 million and valued it at $2.6 billion post-money, achieving unicorn status and enabling expansion of its NFT marketplace to other sports leagues like UFC, MLB, and NFL, while scaling the team and supporting creators on the Flow blockchain. NBA Top Shot, developed with the NBA and NBPA, had seen explosive growth by early 2021, with nearly $500 million in collectibles bought and sold, over 800,000 registered accounts, 338,000 customers owning at least one NFT, and more than 3 million transactions in under five months of open beta. The platform allows fans to collect and trade officially licensed basketball highlight clips as NFTs, tapping into blockchain for digital engagement and ownership. Partners include Warner Music Group and Ubisoft. The funding positioned Dapper Labs at the forefront of the NFT boom, with Flow designed for consumer-scale applications supporting fiat and credit card transactions to ease adoption and reduce crypto-related risks. Shortly after, in April 2021, reports emerged of a potential follow-on round at a $7.5 billion valuation led by Coatue, highlighting rapid valuation growth amid surging interest in blockchain collectibles. |
| Aug 2020 | Series B | Accomplice; Andre Iguodala; SPARX Group; Coinbase Ventures; Animoca Brands; Samsung Ventures; A.Capital Ventures; Andreessen Horowitz; BlockTower Capital; Aaron Gordon; Blockchange Ventures; Craft Ventures | $13M | - | Dapper Labs raised approximately $24.6 million in pre-launch funding between 2019 and 2020, including participation from Coinbase Ventures. |
| Sep 2019 | Series B | Andreessen Horowitz (lead) | $11M | - | - |
| Oct 2018 | Series A | Venrock (lead) | $15M | - | Dapper Labs, the Vancouver-based company behind the blockchain game CryptoKitties, raised $15 million in financing announced on November 1, 2018, led by Venrock with participation from GV (Google Ventures) and Samsung NEXT. The round brought total funding to $27.8 million. Funds were allocated to expand operations, including establishing a U.S. subsidiary in Los Angeles led by former Unity and Disney executives, and hiring talent from Ubisoft, EA Sports, Amazon, ESPN, Hasbro, and Zynga. The investment aimed to build blockchain infrastructure for mainstream consumer adoption and develop peer-to-peer commerce with scarce digital assets. CryptoKitties had generated over 3.2 million transactions and millions of dollars in exchange value on the platform by late 2018, with average kitty prices at $60 and some sales reaching $140,000. CEO Roham Gharegozlou emphasized using games and entertainment to bring decentralization to billions of consumers worldwide. Other backers included Reddit co-founder Steve Huffman, Jeffrey Katzenberg’s WndrCo, Andreessen Horowitz Cultural Leadership Fund, aXiomatic, Endeavor, CoinFund, Animoca Brands, Union Square Ventures, SV Angel, Digital Currency Group, and others. |
| Mar 2018 | Series A | Andreessen Horowitz (lead); Union Square Ventures (lead) | $13M | - | Dapper Labs raised $12 million in a funding round announced around March 2018 from investors including Andreessen Horowitz, Union Square Ventures, NBA players such as Andre Iguodala, Spencer Dinwiddie, Garrett Temple, JaVale McGee, and Aaron Gordon, and others like Coinbase Ventures, Distributed Global, and Valor Capital Group. The round supported development of the Flow blockchain. Existing investors such as Samsung NEXT, Venrock, Accomplice, Animoca Brands, and AppWorks also participated. In connection with the funding, Dapper Labs shared initial beta testing results for NBA Top Shot, its flagship product developed for the Flow blockchain in partnership with the NBA and NBPA. The first 500 players spent thousands of hours opening packs, trading moments, and completing collections. NBA Top Shot captured the nostalgia of trading cards and sneaker trading in a digital format for basketball fans. Dapper Labs, founded in 2018 and based in Vancouver, Canada, focuses on blockchain technology for consumer-friendly Web3 products, digital collectibles, and decentralized gaming, including CryptoKitties and the Flow blockchain. |
Who has invested in Dapper Labs?
26 investors have backed Dapper Labs across its funding rounds, including Andreessen Horowitz, Coatue, GV, Coinbase Ventures, Union Square Ventures and Animoca Brands.
Lead investors include Coatue, Andreessen Horowitz, Venrock and Union Square Ventures.
Dapper Labs Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 San Francisco, CA | 4 | Lead | Mar 2018 | |
| New York City, NY | 2 | Lead | Mar 2021 | |
| Denver, CO | 1 | Participant | Nov 2022 | |
| Boston, MA | 1 | Participant | Aug 2020 | |
| San Francisco, CA | 1 | Participant | Aug 2020 | |
| New York City, NY | 1 | Participant | Sep 2021 | |
 Tokyo | 1 | Participant | Aug 2020 | |
| New York City, NY | 1 | Participant | Nov 2022 | |
| San Francisco, CA | 1 | Participant | Sep 2021 | |
| New York City, NY | 1 | Lead | Mar 2018 | |
| San Francisco, CA | 1 | Participant | Aug 2020 | |
| San Francisco, CA | 1 | Participant | Sep 2021 | |
 Hong Kong | 1 | Participant | Aug 2020 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Dapper Labs
Dapper Labs has acquired 2 companies to date.
Last acquisition by Dapper Labs was on June 2nd 2022. Dapper Labs acquired OK Play for undisclosed valuation.
Latest Acquisitions by Dapper Labs
| Description | OK Play is a Los Angeles-based company developing a mobile app for family bonding activities. Launched in 2019 under OKCO, Inc., the platform prompts daily interactions between parents and children through conversation starters, creative prompts, and shared experiences. | Brud is a Los Angeles-based technology company developing virtual beings and AI-driven media entertainment. It creates interactive digital characters for social media, advertising, and virtual production, leveraging robotics and computer vision expertise. Brud's Lil Miquela Instagram persona has millions of followers and partnerships with brands like Prada and Calvin Klein. |
| HQ Country | | |
| HQ City | Los Angeles, CA | Los Angeles, CA |
| Deal Date | 2 Jun 2022 | 4 Oct 2021 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Dapper Labs acquisitions and their M&A valuation multiples. Start Free Trial | ||
Investments by Dapper Labs
Dapper Labs has invested in 44 companies to date.
Latest investment by Dapper Labs was on April 19th 2023. Dapper Labs invested in Yoz Labs in their $4M Seed round.
Latest Investments by Dapper Labs
| Description | Yoz Labs is a Web3 notification platform building scalable messaging infrastructure for blockchain applications. The service enables developers to deliver instant on-chain notifications straight to end-users' wallets and interfaces. Headquartered with operations centered on decentralized technologies, Yoz Labs advances direct communication rails within Web3 ecosystems through its yoz.cloud platform. | Metalink is a private messaging app for non-fungible token collectors featuring wallet-based verification. Punk owners connect exclusively with verified CryptoPunks holders in group chats. The San Francisco-based platform launched in 2022, supporting Ethereum and Solana wallets with end-to-end encryption for over 20 NFT projects. | Spexi is a platform enabling drone pilots to capture and monetize high-resolution aerial imagery through its Fly to Earn network. Organizations access data for disaster preparedness, smart city planning, infrastructure inspection, and resource monitoring without owning fleets. Spexi aggregates flights over U.S. regions, partnering with utilities like PG&E and government agencies for rapid deployment. | Antic is a platform providing scalable infrastructure for businesses to implement co-ownership features on digital assets and intellectual property. Stockholm-based, it enables functionalities like ad-hoc multi-signature wallets, group decision-making for asset retrieval, selling shares, access provisioning, and adding co-owners, thereby generating new revenue opportunities through shared ownership models. | |
| HQ Country | | | |  | |
| HQ City | San Francisco, CA | Los Angeles, CA | Vancouver | Tel Aviv | |
| Deal Date | 19 Apr 2023 | 15 Mar 2023 | 4 Oct 2022 | 15 Sep 2022 | |
| Round | Seed | Seed | Seed | Seed | |
| Raised | $4M | $6M | $6M | $7M | |
| Investors | North Island Ventures; Coinbase Ventures; Naval Ravikant; Mike Krieger; Collab+Currency; Form Capital; Electric Capital | Cozomo De’Medici; Balaji Srinivasan; Gemini Frontier Fund; Arrington XRP Capital; Gary Vaynerchuk; Human Ventures; Baller ventures; Guy Oseary; Farokh Samad; Ivan Soto-Wright; gmoney NFT | Alliance DAO; FJ Labs; Fort Capital; InDro Robotics; CyLon Ventures; Adam Jackson; Protocol Labs; Blockchange Ventures; Vinny Lingham | Sound Ventures; Pantera Capital; Seven Seven Six; Sheva Capital; Shrug Capital; Rainfall Ventures | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Dapper Labs Competitors
Dapper Labs competitors include listed companies like Bullish and BitMine, and private ones like Suning Sports, Sorare, Wealthsimple and FalconX.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Nanjing | Private | - | - | $2.6B | - | |
 Paris | Private | $150M | - | $4.3B | 28.7x | |
| Toronto | Private | - | - | $7.3B | - | |
| San Francisco, CA | Private | - | - | $8B | - | |
| United States | Publicly listed | $245B | ($727M) | $5.3B | 13.5x | |
| United States | Publicly listed | $6M | ($364M) | $14B | 97.4x |
Dapper Labs Public Comps
Dapper Labs is still privately-owned, but its public comps include MSG Sports, Bullish, Galaxy Digital, Manchester United, Atlanta Braves Holdings, Hyperliquid Strategies, Sharplink, Securitize, TKO and OSL Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.2B | $39M | 9.1x | 9.2x | 267.1x | 402.4x | |||
| $245B | ($727M) | 0.0x | 13.5x | (6.3x) | 38.2x | |||
| $60B | ($177M) | 0.1x | 0.2x | (43.3x) | (182.6x) | |||
| $895M | $302M | 4.9x | 4.8x | 14.4x | 14.5x | |||
| $732M | $98M | 5.6x | 5.3x | 42.0x | 62.0x | |||
| $9M | - | 308.0x | 162.2x | - | - | |||
| $28M | ($734M) | 61.9x | 39.9x | (2.4x) | 141.1x | |||
| $62M | ($34M) | 25.5x | 22.2x | (46.0x) | (37910.8x) | |||
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Common questions about Dapper Labs
| When was Dapper Labs founded? | Dapper Labs was founded in 2018. |
| Where is Dapper Labs headquartered? | Dapper Labs is headquartered in Vancouver, Canada. |
| Is Dapper Labs publicly listed? | No, Dapper Labs is a private, VC-backed company. |
| What is Dapper Labs' valuation? | Dapper Labs was last valued at $7.6B in its Series D in September 2021. |
| How much funding has Dapper Labs raised? | Dapper Labs has raised $613M across 7 funding rounds. |
| What was Dapper Labs' last funding round? | Dapper Labs' last funding round was a $5M Series A in November 2022. |
| Who are Dapper Labs' investors? | Dapper Labs' investors include Andreessen Horowitz, Coatue, North West Quadrant Ventures ( NWQ Ventures), Accomplice, Andre Iguodala, North Island Ventures, SPARX Group, Ahimsa Capital, GV, Union Square Ventures and 16 others. |
| Which companies are comparable to Dapper Labs? | Companies comparable to Dapper Labs include Suning Sports, Sorare, Wealthsimple, FalconX, Bullish and BitMine. |
| How many companies has Dapper Labs acquired? | Dapper Labs has acquired 2 companies, including OK Play and Brud. |
| How many companies has Dapper Labs invested in? | Dapper Labs has invested in 44 companies, including Yoz Labs, Metalink, Spexi, Antic, Revolving Games, NFT Genius, Check Me Finance and Nandi Labs. |
| What was Dapper Labs' last investment? | In April 2023, Dapper Labs invested in Yoz Labs' $4M seed round alongside North Island Ventures, Coinbase Ventures, Naval Ravikant and 4 other investors. |
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