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Evolution

Consumer Services · Stockholm, Sweden · Founded 2006 · IPO 2015

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

Valuation $610M
Revenue $2.31B
EBITDA $1.52B
Power Law Unicorn$1–10B valuation tier Thoroughbred$100M+ revenue
Knowledge graph
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

Talent graph

Evolution's 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.

Investors

2 investors on Evolution's cap table

Sourced from Dealroom's funding and investor records.

Seed 1 investor entered at this stage
Idealab
Series B+ 1 investor entered at this stage
CMEA Capital

Evolution mafia

Startups founded by Evolution alumni

Former Evolution employees who went on to start their own 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

Book a demo to explore the full alumni network →

Global footprint

Where Evolution has talent and traffic

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

Patent intelligence

$4M patent portfolio · 19 active families

Estimated portfolio value
$4M
0.59% of market cap · 1.7× smaller than top peer Playtech ($6M)
19 active patent families
Where Evolution innovates Computer engineeringComputer graphics (images)Display deviceElectronic equipmentHuman–computer interaction

Where Evolution concentrates vs peers

Each axis is a top-10 topic across Evolution and its closest peers. #1 = 100, #10 = 10, absent = 0.

Compare against

Source: Dealroom Patent Intelligence · Patsnap. Request a demo for the full per-sub-category breakdown, individual records, and quality-score history.

Capital deployed

Evolution's 5 investments and acquisitions.

Every disclosed deal where Evolution appeared as a 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

        01 · Deployment strategy vs peers

        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

        02 · Portfolio market map

        Evolution's portfolio, mapped.

        Each chip is one company. Pill colour shows round type — green for Seed, blue for Series A, purple for B/C+, pink for late-stage, amber for M&A. Bigger sectors keep their full list behind “+ N more”.

        Stage
        Period
        5 of 5 deals

        Market sentiment

        What the market is saying about Evolution

        An AI-synthesized read of the highest-engagement posts about Evolution on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.

        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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