Companies · Gaming

Squid Games Inc.

MENLO PARK · Gaming · refined from filed group “Other Technology

Diligence memoA one-page analyst read on Squid Games Inc. — recommendation, valuation, rhythm, risks.
$10.9M
Total raised · real
1
Rounds
Latest step-up
Top 12%
Sector rank · raised
Series A
Latest stage · inferred · Mon Apr 01 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Squid Games Inc. looks fair against its niche peers and is at-risk on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the gaming sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 1.09× the median modeled value of Series A Gaming companies in 2022–2024 (22 peers) — value vs value, same stage and era.
  • Within the normal band (109% of peer median) for its niche.
At-risk
  • Last raise 2.2 yr ago; this sector typically re-raises about every 12 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Gaming

Squid Games Inc. is one of 344 Gaming companies tracked from MENLO PARK. By capital raised it ranks in the upper tier (ahead of 89% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
19
Investors (latest)
2020
Year incorporated
2024-04-01
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$25M$50M$75M$100MSeries A · 2024-04-01 Raised $11M (real) Modeled valuation $52M (est)$11M$52MSeries A2024

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$10.9M · 2024

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$52.4M
Base estimate est.
$13.0M
Conservative case
$119.9M
Upside case
$49.4M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the gaming sector profile. Directional, not a quoted figure.

Not enough modeled valuation points to chart a trajectory.

Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
48%
Survival probability
26% low · 66% high
1.42×/yr
Annual markup
1.78×/yr upside case
2.3 yr
Elapsed time used
2.3 yr actual, capped for stale marks
gaming
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
2.3 yr
On record since
2024
First round
1
Rounds on file
How it compares to the market

Benchmarked against 344 companies in Gaming. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 4.0× above median
This company$10.9M
Sector median$2.7M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.9× above median
This company$10.9M
Sector median$5.7M
Modeled value — vs sector median (estimate, all stages) 2.3× above median
This company$52.4M
Sector median$22.8M

Raised more than 89% of sector peers (real $). Modeled value above 84% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #11 of 22.

This companyCohort peer
$10.0M$100.0M$1.0B$1.0M$10.0M$100.0MCapital raised (log)Community Gaming, Inc. · Series A Raised $15.8M · modeled $129.7M (est)ForeVR Games Inc. · Series A Raised $19.4M · modeled $96.2M (est)Allstar Gaming, Inc. · Series A Raised $21.2M · modeled $90.8M (est)Good Game, Inc · Series A Raised $8.5M · modeled $85.8M (est)Lightforge Games Inc. · Series A Raised $12.0M · modeled $71.1M (est)Perfect Game Group, Inc · Series A Raised $10.8M · modeled $64.9M (est)Pro Sports Gaming LLC · Series A Raised $6.0M · modeled $63.1M (est)BigBrain Games Inc. · Series A Raised $8.5M · modeled $57.4M (est)Random Games Co Inc. · Series A Raised $7.1M · modeled $52.8M (est)G3 Esports LLC · Series A Raised $6.9M · modeled $52.7M (est)Lightfox Games, Inc. · Series A Raised $9.8M · modeled $43.6M (est)Squid Games Inc. (this company) Raised $10.9M · modeled $52.4M (est)Squid Games Inc.
CompanyStageRaised · realValue · estvs peer med.
Community Gaming, Inc.Series A$15.8M$129.7M2.70×
ForeVR Games Inc.Series A$19.4M$96.2M2.00×
Allstar Gaming, Inc.Series A$21.2M$90.8M1.89×
Good Game, IncSeries A$8.5M$85.8M1.79×
Lightforge Games Inc.Series A$12.0M$71.1M1.48×
Perfect Game Group, IncSeries A$10.8M$64.9M1.35×
Pro Sports Gaming LLCSeries A$6.0M$63.1M1.31×
BigBrain Games Inc.Series A$8.5M$57.4M1.19×
Random Games Co Inc.Series A$7.1M$52.8M1.10×
G3 Esports LLCSeries A$6.9M$52.7M1.10×
Squid Games Inc. this companySeries A$10.9M$52.4M1.09×
Lightfox Games, Inc.Series A$9.8M$43.6M0.91×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$10.9M2024-04-01$49.4M$52.4M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$10.9M2024-04-01
    • First recorded raise — entered as Series A.
    • 19 investors on this round.
Intelligence
Modeled next raise
$17.4M
Modeled next size est.range $11.3M$27.8M
Last step-up
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Jacqueline Jin2024-04
Registry & provenance

Squid Games Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
2018710
SEC CIK
2020
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Perfect Game Group, IncGamingSeries A$10.8M$64.9Msame sector · same stage
Teatime Games, Inc.GamingSeries A$10.7M$163.4Msame sector · same stage
Digital Insight Games, Inc.GamingSeries A$10.4M$16.4Msame sector · same stage
Lightfox Games, Inc.GamingSeries A$9.8M$43.6Msame sector · same stage
Lightforge Games Inc.GamingSeries A$12.0M$71.1Msame sector · same stage
Human Computer Game CorpGamingSeries A$9.8M$28.3Msame sector · same stage
Brain Jar Games, Inc.GamingSeries A$12.2M$15.9Msame sector · same stage
Elodie Games, Inc.GamingSeries A$9.1M$21.6Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Big Squid Inc.Other TechnologySeries A$242.7M89%
Bit Fry Game Studios, Inc.GamingSeed$9.2M85%
Game of Silks, Inc.GamingSeries A$1.0M84%
Gamez International, Inc.Other TechnologyPre-Seed$8.3M84%
Playable Worlds, Inc.GamingSeed$26.1M84%
GameIQ, Inc.Other TechnologySeed$3.4M84%
Gameplay Group International Inc.Other TechnologySeed$3.4M83%
Rukus Games Inc.GamingSeries A$43.0M83%
Frequently asked
How much funding has Squid Games Inc. raised?
Squid Games Inc. has raised approximately $10.9M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Squid Games Inc.'s estimated valuation?
Provath's modeled valuation for Squid Games Inc. is approximately $52.4M (modeled range $13.0M–$119.9M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Squid Games Inc. at?
Squid Games Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Mon Apr 01.
What does Squid Games Inc. do and where is it based?
Squid Games Inc. operates in the Gaming sector, based in MENLO PARK.
Explore related

See where Squid Games Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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