PLAY Valuation, Funding & Investors

PLAY is valued at $1B as of June 2021.

See full PLAY profile

Last PLAY valuation

$1B

Undisclosed stage · Jun 2021

Last PLAY funding round

$36M

Undisclosed stage · Jun 2021

Cumulative funding PLAY raised

$93M

across 3 funding rounds

PLAY Overview

About PLAY

PLAY is a low-cost airline connecting North America and Europe via Keflavík International Airport in Iceland. Founded in 2019 and Reykjavík-headquartered, it operates a fleet of 10 Airbus A320neo and A321neo aircraft to 25 destinations including New York, Boston, and London. The carrier serves 2 million passengers annually with fares from $99 one-way, emphasizing 95% on-time performance and safety certifications.


Founded

2019

HQ

IcelandReykjavík

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$1B (Jun 2021)

Sectors

PLAY Valuation

PLAY is currently valued at $1B, based on its undisclosed-stage round in June 2021.

PLAY valuation by funding round

PLAY valuation by funding round
DateStageValuation
Jun 2021Undisclosed stage$1B

PLAY Funding History

PLAY has raised a total of $93M across 3 funding rounds.

PLAY's first fundraising round was a $10M seed round in December 2019. The most recent completed round was a $36M undisclosed-stage round in June 2021.

PLAY funding rounds

PLAY funding rounds
DateStageRaisedValuationDeal Summary
Jun 2021Undisclosed stage$36M$1BPlayco is a software development company founded in 2020, specializing in instant-play streaming games via a browser-based game engine that enables play directly on social and messenger platforms without downloads. It operates in technology and gaming sectors with offices in Mountain View, California; Tokyo, Japan; and Seoul, Korea. The company's mission is 'Bringing the world closer together through play,' focusing on social gaming experiences. Playco raised $100M in a Series A round on September 21, 2020, led by investors including Sequoia Capital, Josh Buckley, Sozo Ventures, Caffeinated Capital, and others, reaching a $1B valuation at that time. No post-money valuation, revenue, or EBITDA is specified for a June 2021 funding round; sources reference the September 2020 Series A and a later $40M corporate round from Meta on February 1, 2022. Playco has completed five funding rounds totaling over $100M, with 9 investors, and employs over 150 people. Co-founders include Michael Carter, Justin Waldron, Takeshi Otsuka, and Teddy Cross.
Apr 2021Undisclosed stage$47M-Play Ventures is a Singapore-based venture capital fund specializing in early-stage investments in free-to-play mobile and PC game studios and gaming services companies. Founded in 2018, the fund focuses on identifying and backing gaming startups globally. On April 6, 2021, Play Ventures announced the closing of its second fund, Play Ventures II, which raised $135 million in capital commitments. This capital infusion brought the fund's total assets under management across its funds to $175 million. The proceeds from Fund II were designated for new gaming industry investments, building on the fund's track record of backing 24 gaming companies by early 2021, with 14 of those investments made during 2020. Following the fund close, Play Ventures deployed capital into several gaming companies, including a $1.5 million pre-Series A investment into All-Star Games (India-based mobile games developer), $2.5 million into Colossi Games (Cyprus-based mobile developer), $4.4 million into Savage Game Studios (Finland-based mobile developer), and a $95 million investment into Mobile Premier League (India-based esports company). As a venture fund rather than an operating company, Play Ventures' financial metrics center on assets under management and deployment activity rather than revenue or operating earnings.
Dec 2019Seed$10M--

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PLAY Competitors

PLAY competitors include listed companies like Finnair, Jazeera Airways, Aegean Airlines and Bangkok Airways, and private ones like ITA Airways and Breeze Airways.

Public and private companies comparable to PLAY
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
FinnairFinlandFinlandPublicly listed$3.6B$503M$1.1B0.1x
Jazeera AirwaysKuwaitKuwaitPublicly listed$709M$180M$1.1B2.1x
Aegean AirlinesGreeceGreecePublicly listed$1.9B$508M$1.1B-
Bangkok AirwaysThailandThailandPublicly listed$724M$220M$1.2B2.2x
ITA AirwaysItalyRomePrivate--$848M-
Breeze AirwaysUnited StatesSalt Lake City, UTPrivate$680M-$1.2B1.8x

PLAY Public Comps

PLAY is still privately-owned, but its public comps include Finnair, Jazeera Airways, Aegean Airlines, Bangkok Airways, Republic Airways Holdings, Garuda Indonesia, Azul, Tigerair Taiwan, Volaris and Air New Zealand.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Finnair$3.6B$503M0.1x0.1x0.9x0.8x
Jazeera Airways$709M$180M2.2x2.1x8.8x9.8x
Aegean Airlines$1.9B$508M1.0x-3.8x-
Bangkok Airways$724M$220M2.3x2.2x7.6x9.2x
Republic Airways Holdings$1.7B$300M1.0x-5.8x-
Garuda Indonesia$3.2B$817M1.3x-4.9x-
Azul$4.2B$1.9B1.2x1.2x2.7x4.5x
Tigerair Taiwan$530M$160M1.2x1.1x4.1x3.8x

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Common questions about PLAY

When was PLAY founded?PLAY was founded in 2019.
Where is PLAY headquartered?PLAY is headquartered in Reykjavík, Iceland.
Is PLAY publicly listed?No, PLAY is a private company.
What is PLAY's valuation?PLAY was last valued at $1B in its undisclosed-stage round in June 2021.
How much funding has PLAY raised?PLAY has raised $93M across 3 funding rounds.
What was PLAY's last funding round?PLAY's last funding round was a $36M undisclosed-stage round in June 2021.
Which companies are comparable to PLAY?Companies comparable to PLAY include Finnair, Jazeera Airways, Aegean Airlines, Bangkok Airways, ITA Airways and Breeze Airways.

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