Manticore Games Valuation, Funding & Investors
Manticore Games is valued at $100M as of September 2020.
Last Manticore Games valuation
$100M
Strategic investment · Sep 2020
Last Manticore Games funding round
$101M
Series C · Mar 2021
Cumulative funding Manticore Games raised
$161M
across 4 funding rounds
Key investors in Manticore Games
Benchmark
Correlation Ventures
BITKRAFT Ventures
SV Angel
MaC Venture Capital
Tuesday Capital
About Manticore Games
Manticore Games is a San Mateo, California-headquartered developer of Core, a UGC platform for creating, publishing, and playing user-generated online games. Founded in 2017 by Epic Games alumni, it supports Fortnite-style multiplayer experiences with Lua scripting and voxel tools, attracting millions of creators.
Founded
2016
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$100M (Sep 2020)
Manticore Games Valuation
Manticore Games is currently valued at $100M, based on its strategic investment round in September 2020.
The $15M round was led by Epic Games, with participation from Benchmark and Roc Nation.
Manticore Games valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2020 | Strategic investment | $100M |
Manticore Games Funding History
Manticore Games has raised a total of $161M across 4 funding rounds.
Manticore Games' first fundraising round was a $15M Series A in December 2017. The most recent completed round was a $101M Series C in March 2021.
Manticore Games funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2021 | Series C | XN (lead); SoftBank Group; LVP; Benchmark; Novator; Epic Games; Correlation Ventures; BITKRAFT Ventures | $101M | - | Manticore Games closed a $100 million Series C funding round on March 31, 2021, led by XN with participation from SoftBank Vision Fund 2, London Venture Partners, and returning investors Benchmark, Bitkraft's Opportunity Fund, Correlation Ventures, and Epic Games. This brought the company's total funding to $160 million. The Redwood City, California-based company operates Core, a user-generated content gaming platform that enables creators to build and monetize their own games using Epic's Unreal Engine, positioning itself as a more sophisticated alternative to Roblox targeting players aged 13 and older. Core offered over 20,000 games at the time, with popular titles including Mining Magnate and Island Survival Alpha, and was scheduled to launch on the Epic Games store on April 15, 2021. The company raised capital to accelerate growth of its creator community, enhance its game creation and publishing tools, and expand its infrastructure across demand side, supply side, engine, servers, and community aspects. While the post-money valuation was not publicly disclosed, investors were attracted by strong momentum in the creator economy and UGC gaming sector, evidenced by Roblox's then-recent public listing at a $41.9 billion valuation and Rec Room's concurrent $100 million raise at a $1.25 billion valuation. |
| Sep 2020 | Strategic investment | Epic Games (lead); Benchmark; Roc Nation | $15M | $100M | Manticore Games, the developer of the Core platform, closed a $15 million funding round led by Epic Games on September 22, 2020, with participation from Benchmark and others including Roc Nation. The Series B round valued the company at $100 million post-money. Core is a user-generated content platform built on Unreal Engine, enabling creators to build and publish multiplayer games across genres like RPGs, survival, and shooters, aiming to create an endless gaming multiverse. The investment validated Core's vision of democratizing game creation similar to YouTube for video. At the time, Core was in alpha with significant momentum, featuring diverse games and a $1 million Creator Payouts Pilot Program to foster a creative economy. Epic Games' support highlighted alignment in empowering creators through accessible tools. This round preceded a $100 million Series C in March 2021 led by XN, with returning investors including Epic Games and Benchmark, to accelerate growth and launch Core on the Epic Games Store. |
| Sep 2019 | Series B | SV Angel; MaC Venture Capital; Tuesday Capital; Benchmark; Arrive; Correlation Ventures; 359 Capital; BITKRAFT Ventures | $30M | - | Manticore Games raised $30 million in a Series B funding round on September 23, 2019, according to funding records. The round included investors Benchmark, BITKRAFT Ventures, Correlation Ventures, and other participants. The company operates Core, a user-generated content (UGC) gaming platform built on Epic's Unreal Engine, enabling creators to build and monetize their own games with higher graphical fidelity than competing platforms like Roblox. The platform targets creators aged 13 and up, positioning itself as a more sophisticated alternative to Roblox with advanced game creation tools and flexible monetization options for creators. |
| Dec 2017 | Series A | Benchmark (lead); SV Angel; MaC Venture Capital; Tuesday Capital; Correlation Ventures; BITKRAFT Ventures | $15M | - | Manticore Games secured a $15 million Series A funding round led by Benchmark Capital on December 12, 2017. The round included participation from BITKRAFT Esports Ventures, Correlation Ventures, CrunchFund, Macro Ventures, SV Angel, and several high-profile gaming and tech entrepreneurs. Benchmark General Partner Mitch Lasky joined Manticore's board as part of the investment. The company, founded in 2016 by videogaming industry veterans Frederic Descamps and Jordan Maynard, was working in stealth mode on a new form of hardcore multiplayer gameplay leveraging user-generated content. The founders brought significant experience from prior ventures, including their previous studio A Bit Lucky (acquired by Zynga in 2012), and roles at companies including EA, Xfire, and Trion Worlds. At the time of the funding announcement, the company had not disclosed specific financial metrics such as post-money valuation, revenue, or profitability figures. |
Who has invested in Manticore Games?
14 investors have backed Manticore Games across its funding rounds, including Benchmark, Correlation Ventures, BITKRAFT Ventures, SV Angel, MaC Venture Capital and Tuesday Capital.
Lead investors include XN, Epic Games and Benchmark.
Manticore Games Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 4 | Lead | Dec 2017 | |
| San Diego, CA | 3 | Participant | Dec 2017 | |
| Denver, CO | 3 | Participant | Dec 2017 | |
| San Francisco, CA | 2 | Participant | Dec 2017 | |
| Abilene, TX | 2 | Participant | Dec 2017 | |
| San Francisco, CA | 2 | Participant | Dec 2017 | |
| Raleigh, NC | 2 | Lead | Sep 2020 | |
| New York City, NY | 1 | Lead | Mar 2021 | |
 Tokyo | 1 | Participant | Mar 2021 | |
 London | 1 | Participant | Mar 2021 | |
| London | 1 | Participant | Mar 2021 | |
| New York City, NY | 1 | Participant | Sep 2019 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialManticore Games Competitors
Manticore Games competitors include listed companies like DouYu and Mirrativ, and private ones like Spatial, Longzhu TV, Eluvio and Monytize.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| New York City, NY | Private | $8M | - | $200M | 25.0x | |
 Shanghai | Private | - | - | $200M | - | |
| San Francisco, CA | Private | - | - | $100M | - | |
| Los Angeles, CA | Private | - | - | $104M | - | |
| China | Publicly listed | $569M | ($5M) | $140M | - | |
| Japan | Publicly listed | $46M | $2M | $61M | 0.9x |
Manticore Games Public Comps
Manticore Games is still privately-owned, but its public comps include Meb Corporation, iDreamSky Tech Holdings, Cable One, Ghost Studio, 17LIVE Group, Huanxi Media Group, T3 Entertainment, Creepyjar, AGS and Atari.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $64M | $16M | 1.0x | 1.0x | 3.8x | 4.0x | |||
| $200M | $24M | 1.7x | - | 14.6x | - | |||
| $1.5B | $162M | 2.0x | 2.1x | 18.4x | 4.1x | |||
| $82M | $7M | 0.4x | - | 4.9x | - | |||
| $159M | $2M | 0.2x | 0.2x | 20.6x | 6.7x | |||
| $44M | ($13M) | 1.8x | - | (6.0x) | - | |||
| $51M | $18M | 1.6x | - | 4.5x | - | |||
| $8M | $4M | 7.7x | 3.7x | 14.0x | 5.2x | |||
This data is available for Pro users. Sign up to see all Manticore Games competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Manticore Games
| When was Manticore Games founded? | Manticore Games was founded in 2016. |
| Where is Manticore Games headquartered? | Manticore Games is headquartered in San Francisco, CA, United States. |
| Is Manticore Games publicly listed? | No, Manticore Games is a private, VC-backed company. |
| What is Manticore Games' valuation? | Manticore Games was last valued at $100M in its strategic investment round in September 2020. |
| How much funding has Manticore Games raised? | Manticore Games has raised $161M across 4 funding rounds. |
| What was Manticore Games' last funding round? | Manticore Games' last funding round was a $101M Series C in March 2021, led by XN. |
| Who are Manticore Games' investors? | Manticore Games' investors include Benchmark, Correlation Ventures, BITKRAFT Ventures, SV Angel, MaC Venture Capital, Tuesday Capital, Epic Games, XN, SoftBank Group, LVP and 4 others. |
| Which companies are comparable to Manticore Games? | Companies comparable to Manticore Games include Spatial, Longzhu TV, Eluvio, Monytize, DouYu and Mirrativ. |
See companies similar to Manticore Games
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