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Evolution

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Evolution is a prominent company specializing in product development and advanced IT solutions for online casinos

Stockholm, SwedenFounded 2006Consumer Services
Valuation $610M Market cap · Aug/2026
Revenue $2.31B Latest reported FY
EBITDA $1.52B Latest reported FY

At a glance

Status
Listed
Founded
2006
Headquarters
Stockholm, Sweden
Listing
IPO 2015
Sector
Consumer Services
Power Law
Unicorn$1–10B valuation tierThoroughbred$100M+ revenue

Knowledge graph

News, research, reports and resources connected to this company by Dealroom
News Kenneth Dart's Candle Lake crosses 30% in Evolution, triggering mandatory bid Jul 24, 2026 News Evolution to buy Dutch arcade specialist Arcadia in €2.5M deal Jul 20, 2026 News Evolution launches €2B share buyback programme Jun 3, 2026 Market map AI x gaming startups

Investors

2 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed1 investor entered at this stage

  • Idealab

Series B and later1 investor entered at this stage

  • CMEA Capital

Talent

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Employees mapped 9,413 incl. 11 AI specialists
Founders Hidden — book a demo/100 quality score
Key operators 18 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia 5 alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Alumni founders

5 startups

Former Evolution employees who went on to found companies, sorted by Dealroom signal score.

DBT CapitalEst. 2016
Jonas EngwallSweden
Signal score84
EmbodiedEst. 2016
PPPaolo PirjanianUnited States
Signal score65
ESolarEst. 2007
Bill GrossUnited States
Signal score63
New MatterEst. 2014
Steve SchellUnited States
Signal score57
EliteGamingLIVEEst. 2014
DPDarwyn PalenzuelaUnited States
Signal score56
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Global footprint

Workforce and web traffic by country
Workforce by country
71 countries with
team presence
🇱🇻 Latvia17.4%
🇬🇪 Georgia16.9%
🇲🇹 Malta13.3%
🇺🇸 United States10%
🇪🇸 Spain7.8%
Top 5 of 71 shown
Web traffic by country
550K monthly visits
across markets
🇺🇸 United States13.5%
🇬🇪 Georgia11.8%
🇮🇳 India10.2%
🇧🇬 Bulgaria4%
🇮🇩 Indonesia3.3%
Top 5 markets shown

Patents

Estimated portfolio value
$4M

19 active patent families included in this estimate.

A patent family groups patent filings for the same invention. Source: Dealroom · PatSnap.

Explore the patent portfolioPatent records, technology areas and peer comparisonsBook a demo

Investments and acquisitions

Disclosed deals where Evolution was the backer or acquirer, 2018–2024. Toggle between venture rounds, M&A, or both. The map below is grouped by the target company's sector — the colored pill on each chip is the round type.

Portfolio analysis

5 deals across Evolution's capital deployment.

Where the deals concentrate by sector, stage, and decade.

By sectorCount
    By stageCount
      By periodCount

        Where Evolution deploys vs peers

        Each axis is a Dealroom topic tag — picked from the cluster's most-tagged themes. Values are normalized per axis: the peer with the highest tag-coverage on that axis sits at the edge, others scale relative to them. Toggle between M&A, venture, or both.

        Compare against

        Evolution's portfolio, mapped.

        Stage
        Period
        5 of 5 deals

        Market sentiment

        Posts on X, past 7 days

        An AI-synthesised read of the highest-engagement posts about Evolution on X, ranked by likes and reposts, corporate channels excluded.

        Reading the room on X — pulling top posts and synthesizing themes…

        Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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        Live deal flow, founder pedigree, hiring signals, revenue trajectory, and the full cap table.

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