Discord Revenue, Valuation, Funding & Investors
Discord is valued at $15B as of March 2022, a 33.7x multiple on its last reported $445M revenue.
Last Discord valuation
$15B
Secondary · Mar 2022
Last Discord funding round
$500M
Series H · Sep 2021
Discord revenue
$445M
Secondary · Mar 2022
Key investors in Discord
Index Ventures
Spark Capital
Benchmark
IVP
Tencent
Greylock
About Discord
Discord is a voice, video, and text communication platform originally built for gamers, now serving communities in music, education, and hobbies. The service supports servers with channels, screen sharing, and mobile apps. San Francisco-headquartered Discord, launched in 2015, hosts millions of daily active users worldwide.
Founded
2015
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$445M (Mar 2022)
Valuation
$15B (Mar 2022)
Discord Valuation
Discord is currently valued at $15B, based on its secondary sale in March 2022.
The $2M round was led by Flat Capital.
Discord's valuation has grown 139x from $108M at its Series C in January 2016 to $15B in March 2022, across 8 priced rounds.
Discord valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Mar 2022 | Secondary | $15B | 33.7x |
| Sep 2021 | Series H | $15B | 115.4x |
| Dec 2020 | Series H | $7B | 25.3x |
| Jun 2020 | Series G | $3.5B | 25.4x |
| Dec 2018 | Series F | $2B | 25.3x |
| Apr 2018 | Series E | $1.6B | 25.4x |
| Jan 2017 | Series D | $775M | 77.5x |
| Jan 2016 | Series C | $108M | 27.0x |
Discord Revenue
Discord's latest recorded revenue is $445M, as of its secondary sale in March 2022. At a $15B valuation, that implies a 33.7x revenue multiple.
Revenue grew from $4M in January 2016 to $445M in March 2022, while the revenue multiple moved from 27.0x to 33.7x.
Discord revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Mar 2022 | $445M | $15B | 33.7x | Secondary |
| Sep 2021 | $130M | $15B | 115.4x | Series H |
| Dec 2020 | $277M | $7B | 25.3x | Series H |
| Jun 2020 | $138M | $3.5B | 25.4x | Series G |
| Dec 2018 | $81M | $2B | 25.3x | Series F |
| Apr 2018 | $65M | $1.6B | 25.4x | Series E |
| Jan 2017 | $10M | $775M | 77.5x | Series D |
| Jan 2016 | $4M | $108M | 27.0x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Discord Funding History
Discord has raised a total of $982M across 9 funding rounds, plus 1 secondary share sale.
Discord's first fundraising round was a $8M Series A in November 2013. The most recent completed round was a $500M Series H in September 2021.
Discord funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2022 | Secondary | Flat Capital (lead) | $2M | $15B | Discord, a San Francisco-based communication platform with 250 million monthly users, raised $500 million in its Series I funding round in September 2021 at a $15 billion post-money valuation. The round was led by Dragoneer Investment Group with participation from Baillie Gifford, Coatue, Fidelity Investments, Franklin Templeton India, and others, including Flat Capital. Discord had generated $445 million in revenue by 2022. The company rejected a $12 billion acquisition offer from Microsoft in April 2021 and subsequently pursued an IPO path, filing confidentially for a public debut in January 2026. By 2026, secondary market valuations of Discord ranged from $6.8 billion to $8 billion, representing a significant decline from its 2021 peak funding valuation. |
| Sep 2021 | Series H | Dragoneer (lead); Baillie Gifford; Mirae Asset; Putnam Premier IT; IVP; Fidelity; northstar.vc; Sony Interactive Entertainment; Edelweiss Capital; Tiger Global; Coatue; DDJ Capital Management | $500M | $15B | Discord, a San Francisco-based voice, video, and text chat platform initially popular among gamers, raised $500 million in a Series I (or H) funding round in September 2021 led by Dragoneer Investment Group, with participation from Baillie Gifford, Coatue Management, Fidelity Management and Research, Franklin Templeton, and others including Sony Interactive Entertainment. The round valued the company at $15 billion post-money, more than doubling its prior $7 billion valuation from a $100 million raise in December 2020 led by Greenoaks Capital and Sony. Discord operates on a freemium model, generating revenue from $9.99 monthly subscriptions for premium features like custom emojis, higher-quality video, animated avatars, and server boosts, without selling ads or user data. The company reported $130 million in revenue in 2020, up from $45 million in 2019, and was not profitable as of March 2021. It claimed to have tripled revenue and doubled visitors from 2019 to 2020, reaching over 150 million monthly active users, 19 million weekly active servers, and 4 billion minutes of daily conversation. The funding aims to fuel expansion beyond gaming into broader communities, events, and social audio features, including integration with Sony's PlayStation Network in early 2022, while hiring across engineering, marketing, and product roles. Earlier in 2021, Discord rejected a $12 billion acquisition bid from Microsoft and a prior $10 billion offer, opting to remain independent and potentially pursue an IPO. Total funding raised by Discord reached approximately $995 million across multiple rounds by September 2021. |
| May 2021 | Series H | Sony Interactive Entertainment (lead); Mindrock Capital; Da Vinci Capital; Olive Technology Ventures | $3M | - | Discord, a San Francisco-based communication platform offering voice, video, and text chat initially for gamers and later broader communities, completed a $3.3M secondary market round in February 2021 led by Sony Interactive Entertainment, with participation from Da Vinci Capital, Mindrock Capital, and Olive Technology Ventures. The funding aimed to strengthen integrations with PlayStation Network. This followed prior rounds including a $100M Series G in June 2020 led by Index Ventures and a $100M Series H in December 2020 led by Greenoaks at a $7B valuation. A larger $500M Series H followed in September 2021 led by Dragoneer Investment Group, valuing Discord at $15B. |
| Dec 2020 | Series H | Greenoaks (lead); Index Ventures | $100M | $7B | Discord, a US-based communications platform originating as a voice, video, and text chat tool for gamers, has expanded into a broader social hub for communities including education, entertainment, and collaboration. By December 2020, it reached 140 million monthly active users, doubling from the prior year amid pandemic-driven online socialization shifts. The platform offers a free core service with a paid Nitro upgrade for enhanced features. In its Series H funding round announced around December 17, 2020, Discord raised $100 million led by Greenoaks Capital, with participation from Index Ventures, at a post-money valuation of $7 billion—doubling the $3.5 billion valuation from its June 2020 Series G round of $100 million also led by Index Ventures. The round targeted up to $140 million total, bringing cumulative funding to approximately $420-479 million from prior investors like Greylock, IVP, Spark Capital, Tencent, and Benchmark. This swift follow-on reflected Discord's rapid growth and ambitions to enhance infrastructure, features, and non-gaming expansions. CEO Jason Citron highlighted plans to improve both free and Nitro offerings heading into 2021, while Greenoaks' Neil Mehta praised Discord's evolution toward connecting billions globally. Subsequent rounds included a $500 million Series H in September 2021 at $15 billion valuation led by Dragoneer, but the queried December 2020 round matches the Greenoaks-led $100 million tranche at $7 billion. |
| Jun 2020 | Series G | Index Ventures (lead); BBQ Capital; Toy Ventures | $100M | $3.5B | Discord, a voice, video, and text communication platform originally built for gamers, raised $100 million on June 30, 2020, in a funding round led by Index Ventures with participation from Buddy Shakhashiri and Toy Ventures, achieving a post-money valuation of $3.5 billion, up from $2.05 billion in a prior round 18 months earlier. The funds were earmarked to accelerate investments in community features, new functionalities, and infrastructure to support its expanding user base, which had reached over 100 million monthly active users, with 4 billion minutes of daily conversation across 6.7 million active servers. This round marked Discord's push to broaden beyond gaming, introducing less gaming-specific references in the app and a new tagline 'Your place to talk' to make it more inclusive for diverse communities. Index Ventures' Danny Rimer, who had backed an earlier $150 million round in 2018, initiated contact in February 2020 to provide additional support. The platform's growth was evident in weekly metrics like 26 billion server conversation minutes across 13.5 million active servers. Just six months later in December 2020, Discord raised another $100 million (part of a potential $140 million Series H) led by Greenoaks Capital with Index Ventures participating, doubling the valuation to $7 billion amid surging demand during the coronavirus pandemic, which doubled its user base to 140 million monthly active users. The company offered a free core service alongside a paid Nitro upgrade. Previous backers included Greylock, IVP, Spark Capital, Tencent, and Benchmark, bringing total funding past $420 million at that point. |
| Dec 2018 | Series F | Greenoaks (lead); Index Ventures; IVP; FirstMark; Spark Capital; Tencent; Technology Opportunity Partners | $150M | $2B | Discord, a San Francisco-based voice, video, and text chat platform primarily for gamers, raised $150 million in a December 2018 funding round led by Greenoaks Capital, with participation from FirstMark, Index Ventures, IVP, Spark Capital, Technology Opportunity Partners, and Tencent, achieving a post-money valuation of $2.05 billion. This followed an April 2018 round of $50 million at a $1.65 billion valuation, bringing total funding to over $280 million. The platform had grown to over 200 million registered users, more than quadruple from a year prior, with 14 million daily active users reported in some coverage. The funding supported Discord's expansion beyond free chat services into monetization, including a $9.99/month Nitro subscription for premium features and a new gaming storefront offering developers a 90/10 revenue split, positioning it as a competitor to Steam and Epic Games. No existing shareholders sold shares in the round, and the company had not yet achieved profitability. Investors included prior backers like Benchmark, Greylock, and WarnerMedia from earlier rounds dating back to 2011. Discord's growth was driven by its appeal to gaming communities, enabling customizable voice and text channels, though it faced competition from TeamSpeak and Mumble. The platform's rapid user acquisition highlighted its dominance in gamer communication, with ambitions to broaden into general online communities while maintaining its core audience. |
| Apr 2018 | Series E | Index Ventures; IVP; Spark Capital; Tencent; Benchmark | $50M | $1.6B | Discord, a US-based provider of text and voice messaging tools primarily for gamers, raised $50 million in April 2018 from investors including Benchmark, Index Ventures, IVP, Spark Capital, and Tencent at a $1.65 billion valuation. This round followed a January 2017 raise of $50 million led by Index Ventures with IVP, Greylock, Benchmark, and Spark Capital at a $725 million pre-money valuation. The April 2018 funding contributed to Discord's total funding exceeding $280 million by late 2018, ahead of a subsequent $150 million round in December 2018 led by Greenoaks Capital with FirstMark, Tencent, IVP, Index Ventures, and Technology Opportunity Partners at a $2.05 billion valuation. At the time of the April 2018 round, Discord had grown to over 14 million daily active users by late 2018, with its core chat service enabling voice and text communications for gamers during and outside gameplay. The funding supported expansion efforts, including the launch of a gaming store in beta by October 2018, offering developers a 90/10 revenue split compared to Steam's 70/30, positioning Discord to compete directly with Valve's platform. Later data shows growth to 183 million MAUs in 2022 and estimated ARR scaling from $45 million in 2019 to $600 million by 2023, primarily from Nitro subscriptions, server boosting, and emerging advertising via Sponsored Quests. |
| Jan 2017 | Series D | Index Ventures (lead); IVP; Spark Capital; Benchmark; Greylock | $50M | $775M | Discord is a voice and text chat tool designed for video game teams and communities. Founded after a pivot from gaming in 2015, the company built a messaging platform specifically tailored to gamers' needs. In January 2017, Discord raised approximately $50 million in a Series C funding round led by Index Ventures, with participation from Institutional Venture Partners (IVP), Greylock Partners, Benchmark, and Spark Capital. The round valued the company at a $725 million pre-money valuation, implying a post-money valuation of approximately $775 million. At the time of the funding, Discord had achieved significant traction with 45 million registered users on its platform, quadrupling from the prior year, and 9 million daily active users. The company positioned itself as the communication layer for gaming, with plans to expand its platform offerings and capitalize on an estimated $62 billion market for non-mobile video gaming that year. |
| Jan 2016 | Series C | Greylock (lead); Spark Capital (lead); Tencent; Benchmark; YouWeb; Specialized Types | $20M | $108M | Discord, a chat and voice software platform initially targeted at gaming communities for real-time interaction during gameplay, raised funding in January 2016 at a post-money valuation of $108.42 million, matching the specified investors including Greylock and Spark Capital as leads alongside Benchmark, Specialized Types, Tencent, and YouWeb. This Series B or early round built on prior funding, such as the February 2015 round at $48.5 million valuation. The platform differentiated itself from competitors like Facebook and Twitter by embedding voice and chat directly into gaming experiences, allowing seamless communication without leaving games or apps. By 2016, Discord was scaling its user base rapidly within gaming circles, though specific revenue metrics near the round date are unavailable; later estimates indicate annual revenue reached $5 million in 2016 from premium subscriptions like Nitro, which offered enhanced features such as HD streaming and larger uploads. Monetization focused on subscriptions and later server boosting, evolving into multiple channels including advertising by 2024. No details on round size, use of funds, or exact traction metrics like user counts are tied directly to this 2016 event in sources. Subsequent rounds showed strong growth: June 2016 at $282.28 million valuation, January 2017 at $725 million, scaling to $15 billion by 2021-2023 amid expansions beyond gaming into broader online communities. Total funding approached $1 billion, with key investors like Tencent persisting. Revenue accelerated post-2016, hitting $45 million in 2019, $600 million in 2023, and $725 million ARR in 2024, primarily from Nitro subscriptions (0.67% paying users), server boosts, and emerging ads like Sponsored Quests. |
| Nov 2013 | Series A | Benchmark (lead); WarnerMedia; Ridge Ventures; 9+ Program; Accel | $8M | - | Discord completed a Series A funding round in November 2013 at a post-money valuation of $2.34 million. At this very early stage, Discord was in its infancy as a communication platform designed initially for gaming communities. The company had not yet disclosed public revenue figures for this period, as it was still in the early growth phase before monetization became a focus. Discord's valuation would grow substantially over the following decade, eventually reaching $15 billion by 2023 as the platform expanded beyond gaming to support education, business communities, and entertainment, with revenue scaling from minimal early-stage levels to $725 million in annual recurring revenue by 2024. |
Who has invested in Discord?
32 investors have backed Discord across its funding rounds, including Index Ventures, Spark Capital, Benchmark, IVP, Tencent and Greylock.
Lead investors include Flat Capital, Dragoneer, Sony Interactive Entertainment, Greenoaks, Index Ventures and 3 other investors.
Discord Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 London | 5 | Lead | Jan 2017 | |
| San Francisco, CA | 4 | Participant | Jan 2017 | |
| San Francisco, CA | 4 | Lead | Jan 2016 | |
| San Francisco, CA | 4 | Lead | Nov 2013 | |
 Shenzhen | 3 | Participant | Jan 2016 | |
| San Francisco, CA | 2 | Lead | Dec 2018 | |
| San Francisco, CA | 2 | Lead | May 2021 | |
| San Francisco, CA | 2 | Lead | Jan 2016 | |
| Edinburgh | 1 | Participant | Sep 2021 | |
| San Francisco, CA | 1 | Lead | Sep 2021 | |
| San Francisco, CA | 1 | Participant | Jun 2020 | |
 Seoul | 1 | Participant | Sep 2021 | |
| United States | 1 | Participant | Sep 2021 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Discord
Discord has acquired 3 companies to date.
Last acquisition by Discord was on January 17th 2023. Discord acquired Gas for undisclosed valuation.
Latest Acquisitions by Discord
| Description | Gas is a mobile application that enables users to send anonymous compliments and positive messages to friends through school-based networks in the United States. | Sentropy Technologies is a content moderation platform protecting online communities from abuse, harassment, and toxic content. San Francisco-headquartered, it uses AI classifiers trained on millions of examples to scan forums, social platforms, and comment sections in real time. The software flags violations with 95 percent accuracy across languages including English, Spanish, and Arabic. Sentropy serves Discord servers, Reddit communities, and enterprise forums for companies like Shopify. Launched in 2020, it processes billions of messages monthly. | Ubiquity6 is a San Francisco-headquartered studio building augmented reality platforms using computer vision for persistent multiplayer experiences. Founded in 2017, it develops AR games overlaying virtual worlds on physical environments via mobile devices. |
| HQ Country | | | |
| HQ City | Los Angeles, CA | San Francisco, CA | San Francisco, CA |
| Deal Date | 17 Jan 2023 | 13 Jul 2021 | 28 Jun 2021 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Discord acquisitions and their M&A valuation multiples. Start Free Trial | |||
Discord Competitors
Discord competitors include listed companies like Doximity and iFlytek, and private ones like Telegram, Genesys, Notion and Talkdesk.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Dubai | Private | - | - | $30B | - | |
| United States | Publicly listed | $645M | $229M | $4.7B | 6.2x | |
| San Francisco, CA | Private | $2.1B | $900M | $15B | 7.1x | |
| China | Publicly listed | $4B | $465M | $14B | 3.4x | |
| San Francisco, CA | Private | $600M | - | $11B | 18.3x | |
| San Francisco, CA | Private | $230M | - | $10B | 43.5x |
Discord Public Comps
Discord is still privately-owned, but its public comps include iFlytek, Kuaishou, Kakao, Pinterest, Match Group, Snap, NAVER, Dropbox, Amdocs and NICE.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4B | $465M | 3.7x | 3.4x | 31.7x | 40.6x | |||
| $21B | $4.1B | 0.7x | 0.7x | 3.4x | 4.5x | |||
| $5.9B | $1.1B | 0.9x | 0.9x | 4.8x | 4.1x | |||
| $4.2B | $361M | 2.4x | 2.2x | 28.5x | 7.3x | |||
| $3.5B | $939M | 3.7x | 3.7x | 13.9x | 10.0x | |||
| $5.9B | ($300M) | 1.9x | 1.7x | (37.1x) | 9.8x | |||
| $8.8B | $2.2B | 2.3x | 2.1x | 9.0x | 9.3x | |||
| $2.5B | $854M | 4.4x | 4.4x | 12.9x | 9.4x | |||
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Common questions about Discord
| When was Discord founded? | Discord was founded in 2015. |
| Where is Discord headquartered? | Discord is headquartered in San Francisco, CA, United States. |
| Is Discord publicly listed? | No, Discord is a private, VC-backed company. |
| What is Discord's valuation? | Discord was last valued at $15B in its secondary sale in March 2022. |
| How much funding has Discord raised? | Discord has raised $982M across 9 funding rounds. |
| What was Discord's last funding round? | Discord's last funding round was a $500M Series H in September 2021, led by Dragoneer. |
| Who are Discord's investors? | Discord's investors include Index Ventures, IVP, Spark Capital, Benchmark, Tencent, Greenoaks, Sony Interactive Entertainment, Greylock, Baillie Gifford, Dragoneer and 22 others. |
| What is Discord's revenue? | Discord's latest recorded revenue is $445M (March 2022). |
| What is Discord's revenue multiple? | Discord's latest valuation implies a 33.7x revenue multiple ($15B valuation on $445M of revenue). |
| Which companies are comparable to Discord? | Companies comparable to Discord include Telegram, Doximity, Genesys, iFlytek, Notion and Talkdesk. |
| How many companies has Discord acquired? | Discord has acquired 3 companies, including Gas, Sentropy Technologies and Ubiquity6. |
See companies similar to Discord
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