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- Npixel
Npixel Valuation, Funding & Investors
Npixel is valued at $861M as of August 2021.
Last Npixel valuation
$861M
Series B · Aug 2021
Last Npixel funding round
$86M
Series B · Aug 2021
Cumulative funding Npixel raised
$139M
across 3 funding rounds
Key investors in Npixel
Altos Ventures
Aspex Management
Saehan Startup Investment
Saehan Venture Capital
About Npixel
Npixel is a Seoul-headquartered game developer focused on blockchain-integrated titles and NFT ecosystems. Formed in September 2017 by alumni from Netmarble's Seven Knights team, the studio released Gran Saga in South Korea during the first half of 2020. Npixel builds decentralized autonomous organization structures into its games, combining traditional mobile RPG elements with Web3 features like player-owned assets and community governance.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Valuation
$861M (Aug 2021)
Npixel Valuation
Npixel is currently valued at $861M, based on its Series B in August 2021.
The $86M round was led by Saehan Startup Investment.
Npixel's valuation has grown 3.4x from $257M at its Series A in January 2020 to $861M in August 2021, across 2 priced rounds.
Npixel valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2021 | Series B | $861M |
| Jan 2020 | Series A | $257M |
Npixel Funding History
Npixel has raised a total of $139M across 3 funding rounds.
Npixel's first fundraising round was a $26M Series A in January 2020. The most recent completed round was a $86M Series B in August 2021.
Npixel funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2021 | Series B | Saehan Startup Investment (lead) | $86M | $861M | Npixel, a South Korean game developer known for titles like 'Gransaga', raised $86.32M (100 billion KRW) in a Series B funding round on August 31, 2021, led by Saehan Startup Investment (also referred to as Saehan Venture Capital). This was the company's latest round at the time, bringing total funding to $139.67M across three rounds, with prior rounds including Series A and Series A-II. Saehan Venture Capital participated in multiple rounds, confirming their involvement as lead in Series B. |
| Nov 2020 | Series A | Aspex Management (lead); Altos Ventures; Saehan Venture Capital | $27M | - | Npixel, a company based in Gyeonggi-do, South Korea, operating in the gaming, PC games, and computer sectors, raised funding in an early stage venture round on 23 November 2020 led by Aspex Management, with participation from Altos Ventures and Saehan Venture Capital. The deal size was 26M. Aspex Management, a Hong Kong-based hedge fund founded by Hermes Li in 2018, focuses on public and private companies in Asia, with this Npixel investment listed among its deals. |
| Jan 2020 | Series A | Altos Ventures (lead); Aspex Management (lead); Saehan Startup Investment (lead) | $26M | $257M | Npixel is a South Korean game developer founded in September 2017 by former developers of Netmarble's Seven Knights. The company raised 30 billion won ($25.9 million) in a Series A funding round around January 10, 2020, led by Saehan Startup Investment and Altos Ventures, marking the largest Series A for a South Korean games company at the time. Funds were intended to support the launch of its first game, Gran Saga, an MMORPG for mobile, PC, and console, scheduled for South Korea in the first half of 2020, with additional projects like Project S in development. |
Who has invested in Npixel?
4 investors have backed Npixel across its funding rounds, including Altos Ventures, Aspex Management, Saehan Startup Investment and Saehan Venture Capital.
Lead investors include Saehan Startup Investment, Aspex Management and Altos Ventures.
Npixel Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jan 2020 | ||
| 2 | Lead | Jan 2020 | ||
This data is available for Pro users. Sign up to see all 4 Npixel investors. Start Free Trial | ||||
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 TrialNpixel Competitors
Npixel competitors include listed companies like HashKey Holdings and BitGo Holdings, and private ones like Mythical Games, Hike, C2x and Atomic Loans.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1.4B | - | ||
| Private | - | - | $500M | - | ||
| Publicly listed | $92M | ($109M) | $884M | - | ||
| Private | - | - | $900M | - | ||
| Publicly listed | $16B | ($9M) | $795M | 5.5x |
Npixel Public Comps
Npixel is still privately-owned, but its public comps include GungHo Online, Playtika, HashKey Holdings, DoubleUGames, Yalla Group, BitGo Holdings, Kakao Games, Guangxi Xinxunda, MNC Digital Entertainment and VNG Corp..
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $599M | $37M | 0.3x | 0.3x | 5.5x | 4.0x | |||
| $2.8B | $180M | 1.1x | 1.1x | 16.4x | 3.9x | |||
| $92M | ($109M) | 6.4x | - | (5.4x) | - | |||
| $524M | $170M | 0.9x | 0.9x | 2.9x | 2.4x | |||
| $342M | $128M | - | - | - | - | |||
| $16B | ($9M) | 0.1x | 5.5x | (125.1x) | 125.4x | |||
| $339M | ($72M) | 2.1x | 2.6x | (10.0x) | (38.1x) | |||
| $19M | ($17M) | 37.4x | - | (40.8x) | - | |||
This data is available for Pro users. Sign up to see all Npixel competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Npixel
| When was Npixel founded? | Npixel was founded in 2017. |
| Where is Npixel headquartered? | Npixel is headquartered in Seoul, South Korea. |
| Is Npixel publicly listed? | No, Npixel is a private, VC-backed company. |
| What is Npixel's valuation? | Npixel was last valued at $861M in its Series B in August 2021. |
| How much funding has Npixel raised? | Npixel has raised $139M across 3 funding rounds. |
| What was Npixel's last funding round? | Npixel's last funding round was a $86M Series B in August 2021, led by Saehan Startup Investment. |
| Who are Npixel's investors? | Npixel's investors include Saehan Startup Investment, Altos Ventures, Aspex Management and Saehan Venture Capital. |
| Which companies are comparable to Npixel? | Companies comparable to Npixel include Mythical Games, Hike, C2x, HashKey Holdings, Atomic Loans and BitGo Holdings. |
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