Improbable
Improbable is a London-founded venture builder that creates and scales AI, Web3, and metaverse companies using shared proprietary infrastructure including MSquared, Morpheus, and Somnia blockchain, serving enterprise clients in entertainment, sports, and media.
- Company typePrivate
- Founded2012
- HeadquartersLondon, United Kingdom
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Improbable does
Improbable is a London-headquartered technology venture builder, founded in 2012, that creates and scales companies at the intersection of AI, Web3, and metaverse technologies. Following a strategic pivot in Q3 2023 from a single-product metaverse platform to a multi-venture builder model, the company operates a portfolio of ventures that share underlying proprietary infrastructure — most notably MSquared (a network of interoperable metaverse environments), Morpheus (a simulation engine), and Somnia (an AI-native Layer-1 blockchain that launched its mainnet in September 2025). The portfolio spans AI-enabled supply chain simulation (Kallikor), AI-driven private equity transformation (Roju), AI agent tooling on Somnia, DeFi AI alerting (Otomato), and metaverse experiences developed for enterprise clients.
The company serves enterprise customers across entertainment, sports, and media — including MLB, Yuga Labs, BBC Philharmonic, JYP Entertainment (Twice), AleXa, and Bethesda — primarily through technology licensing, platform usage, and bespoke development engagements. Revenue is generated through a mix of enterprise licensing deals, platform fees, blockchain transaction revenue, and exits from portfolio ventures. Total disclosed exits exceed $179M, and the company reported revenue of £66M in FY2023 and £10M in FY2024, with £162.8M in cash at year-end 2024 and a reported valuation of £2.5B as of November 2025. Headcount stands at approximately 650 post-transformation.
The business model rests on a venture builder thesis: Improbable incubates technology ventures using shared proprietary infrastructure, takes equity stakes, and monetizes through a combination of licensing fees, minority investments, venture exits, and on-chain transaction revenue from Somnia. Following the December 2025 divestiture of the Imporium consumer metaverse platform to Yuga Labs, the company is sharpening its focus on AI and Web3 infrastructure as core monetization pillars. Leadership relocated to the UAE in late 2025, with the Dubai market positioned as a strategic operational hub.
Improbable firmographics
Firmographics- Name
- Improbable
- Legal name
- Improbable Worlds Limited
- Website
- https://improbable.io
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Improbable is a London-founded venture builder that creates and scales AI, Web3, and metaverse companies using shared proprietary infrastructure including MSquared, Morpheus, and Somnia blockchain, serving enterprise clients in entertainment, sports, and media.
- Ownership category
- akta.pro rank
Improbable industry classification
Industry- Product category
- Metaverse Infrastructure
- NAICS
- Software Publishers (5132)
- SIC
- Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Metaverse & Social Virtual Worlds (BPAMAKAF)
- akta.pro secondary industries
- Blockchain Game Studios & Game Development (FSAPAGAC), On-Chain Game Engines & Developer Tooling (SDKs, APIs, Unity/Unreal plugins) (FSAPAGAB), Metaverse Commerce & Monetization (virtual goods storefronts, payments, ads) (FSAPAGAK), Interoperability & Asset Bridging for Games (cross-game/cross-chain assets) (FSAPAGAJ), Virtual Sports & Esports Live Events (Broadcast + Interactive Viewing) (MPAGAOAH), Player Wallets, Identity & Accounts for Games (embedded wallets, SSO, DID) (FSAPAGAF)
Keywords
Where Improbable is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Improbable business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales
Revenue model
- Venture Building — Equity Stakes: Improbable builds ventures internally and invests in founders, taking equity stakes. Portfolio companies include Somnia, MSquared, Jitter, Chamber, Kallikor, Imporium, fan3, Otomato, Roju. Successful exits generate returns. Revenues for FY24 were £10 million consolidated into group accounts.
- Technology Licensing — MSquared & Morpheus: Licensing of proprietary metaverse infrastructure (MSquared, Morpheus technology) to external developers and platforms. Includes Otherside Development Kit (ODK) for third-party creators to build on MSquared.
- Branded Virtual Experiences — MLB and Partners: Custom development of branded virtual worlds and immersive experiences for sports leagues, entertainment companies, and brands. MLB Virtual Ballpark, Otherside metaverse development, virtual concerts. Revenue recognized through service contracts and ongoing platform fees.
- Somnia Blockchain — Transaction & Gas Fees: Somnia layer-1 blockchain generates revenue through transaction fees and gas fees. With sub-cent fees and millions of TPS capacity, fees accumulate from gaming, DeFi, social, and metaverse applications running on-chain. Testnet surpassed 2 billion transactions before mainnet launch.
- Venture Exits — Divestitures and Sales: Improbable exits ventures through trade sales. Exits include Imporium to Yuga Labs (December 2025), Inflexion Games to Tencent (February 2022), Midwinter Entertainment to Behaviour Interactive (May 2022), MPG games services business (end of 2023), and defence business to NOIA Capital (June 2023). Total exits exceeding $179 million.
- Ongoing Technology License — Imporium/Yuga Labs: Yuga Labs acquired Imporium and also received an ongoing license to Improbable's metaverse technology in support of the Otherside metaverse, continuing to use MSquared open standards and interoperability framework.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Somnia Developer Grant Program — $10M allocated to onboard developers to the Somnia ecosystem |
| Freemium | Monthly | Otomato DeFi Intelligence — Free tier with optional premium features |
| Usage-based | Pay-as-you-go | Somnia blockchain — sub-cent fees per transaction |
Go-to-market motion3 records
Distribution channels10 records
Marketing channels8 records
Improbable product offering
Product offeringCore offering
Improbable is a venture builder that creates and grows companies across AI, Web3 and the metaverse, supplying founders with capital, operational support (finance, HR, legal, compliance, go-to-market), and proprietary technology platforms including the MSquared (M²) interoperable metaverse network, the Morpheus distributed-systems technology, and the Somnia high-throughput Layer 1 blockchain. It also licenses these technology platforms directly to enterprises, sports leagues and entertainment brands for branded virtual experiences such as MLB Virtual Ballpark, Otherside (Yuga Labs) and BBC Philharmonic metaverse concerts.
Product overview
Improbable operates as a venture builder focused on AI, Web3, and the metaverse. The company's core offering is a portfolio of venture companies built on shared technology infrastructure. The primary technology platform is MSquared (M²), which provides the foundational layer for building scalable, interoperable virtual worlds. Somnia, a high-performance Layer 1 blockchain, serves as the infrastructure backbone for AI agents and real-time decentralized applications. Additional ventures include Edison (massively multiplayer events), fan3 (fan engagement), Kallikor (supply chain AI simulation), Jitter (interactive streaming), Imporium (virtual entertainment studio), Chamber (virtual events), Otomato (DeFi intelligence), and Roju (PE AI transformation). These ventures are supported by core technologies including Morpheus technology, MML (Metaverse Markup Language), and SpatialOS distributed simulation platform.
Differentiator
Problem solved
Functional benefit
Products and services
- MSquared (M²)
Quantifiable outcome
- Somnia blockchain processes over 1 million TPS (record-breaking Devnet performance)
- +6 more outcomes
Companies that use Improbable
Customer profileNamed customers7 records
Segments7 records
Ideal customer profiles6 records
Improbable technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability12 records
Feature8 records
Improbable partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered major, core and flagship.
- Royal Shakespeare Company (RSC)majorImprobable collaborated as executive producer on the Royal Shakespeare Company's West End production of 'My Neighbor Totoro' in London (Gillian Lynne Theatre). Production opened approximately first anniversary. Collaboration involves Joe Hisaishi, Nippon TV, and Improbable as executive producer. Based on Miyazaki Hayao's 1988 animated film.
- BitGo and FireblockscoreBitGo and Fireblocks partnered with Somnia during its testnet phase to strengthen custody, wallet infrastructure, and security capabilities for mainnet launch. These partnerships provide institutional-grade infrastructure for Somnia's high-performance blockchain supporting gaming, social, and DeFi applications.
- OpenSea, LayerZero, Sequence, Ankr, DIA, ThirdwebcoreSomnia integrated with major Web3 ecosystem tools at mainnet launch: OpenSea (NFT marketplace), LayerZero (cross-chain messaging), Sequence (wallet infrastructure), Ankr (RPC infrastructure), DIA (decentralized data oracles), and Thirdweb (developer tools). These integrations extend Somnia's reach to existing developer bases across the EVM ecosystem and enable seamless migration of dApps to Somnia's high-throughput chain.
- Somnia FoundationflagshipSomnia Foundation is an independent entity established by MSquared to develop and steward the Somnia blockchain as open, public infrastructure. Improbable built Somnia under contract for the Foundation. The Foundation manages grants, ecosystem growth, and blockchain governance. It has committed significant investment ($270M+ total ecosystem) and onboarded 60+ validators at mainnet launch. Somnia reached peak valuation of $1.9 billion under Foundation leadership.
- Google CloudcoreGoogle Cloud partnered with Somnia during its testnet phase to strengthen scalability, security, and developer capabilities for mainnet launch. Collaboration brings Google Cloud's leading security expertise and infrastructure to the Somnia blockchain ecosystem, supporting AI-powered NPCs and Web3 infrastructure. Somnia's collaboration with Google Cloud was announced as part of its testnet milestone achievements in February 2025.
- BBC Philharmonic OrchestramajorBBC Philharmonic Orchestra collaborated with Improbable's MSquared platform for a groundbreaking virtual concert on November 23, 2024, as part of the MAX-R consortium. Concert featured game soundtracks from God of War, Baldur's Gate, and Fortnite. MSquared provided MILEs (Massively Interactive Live Events) technology for the event. Eímear Noone conducted as the first-ever motion-captured conductor in the metaverse. The concert simultaneously reached in-person and metaverse audiences.
- Major League Baseball (MLB)flagshipImprobable developed MLB's Virtual Ballpark — the first professional sports league to own a virtual world. Powered by Morpheus technology and M² network, the Virtual Ballpark allows baseball fans globally to watch games together, interact with voice chat, and purchase virtual merchandise. Partnership extended through September 2024 season with weekly virtual watch parties. MLB's core digital products and virtual shop integrated into the virtual ballpark. The partnership demonstrates mass-consumer metaverse adoption in sports entertainment.
- Animoca BrandsmajorAnimoca Brands partnered with Yuga Labs and Improbable on the Otherside metaverse, providing strategic support and investment to the platform. Animoca Brands is a major Web3 gaming investor with extensive portfolio of blockchain gaming and NFT companies.
- Yuga LabsflagshipYuga Labs partnered with Improbable to build the Otherside metaverse on MSquared/M² technology. Imporium, an Improbable venture, served as core contributor to Otherside Unreal experiences. In December 2025, Yuga Labs acquired Imporium from Improbable and received an ongoing license to Improbable's metaverse technology. Yuga Labs returned in May 2023 for a metaverse town hall and revealed Otherside would be built on MSquared with new creator tools (Otherside Development Kit). The relationship encompasses co-development of metaverse infrastructure, virtual world interoperability, and digital asset integration.
Scale indicators22 records
Recent moves9 records
Expansion highlights5 records
Improbable competitors and assessment
Company assessmentDirect peers
- Roblox Corporation: Massively multiplayer virtual worlds platform with deep user-generated content and creator economy. Competes for metaverse mindshare, developer talent, and brand partnerships targeting Gen Z audiences.
- MultiversX (formerly Elrond): High-throughput EVM-compatible Layer 1 blockchain that led Improbable's $100M round in October 2022. Competes head-to-head with Somnia in the high-throughput L1 space and has overlapping gaming/Web3 focus.
- Animoca Brands: Web3 gaming and metaverse investor-operator with portfolio including The Sandbox, REVV Motorsport, and direct participation in Yuga Labs' Otherside. Competes for blockchain gaming capital allocation and venture builder economics.
- Decentraland: Ethereum-based decentralized virtual world with LAND parcels and MANA token economy. Competes for blockchain-based metaverse user engagement and creator monetization.
- Unity Software: Real-time 3D development platform widely used for game engines and emerging metaverse/industrial applications. Competes for developer mindshare and provides overlapping tools for large-scale multiplayer experiences.
- Yuga Labs: Operates Otherside, a Web3-native metaverse built on MSquared/Morpheus. Improbable's most strategic partner and customer; acquired Improbable's Imporium venture in Dec 2025. Direct overlap in virtual world infrastructure and NFT-based digital identity.
- The Sandbox: Decentralized virtual world where players build, own, and monetize gaming experiences on blockchain. Direct competitor in metaverse platform infrastructure and Web3-native virtual world tooling.
- Polygon Labs: Ethereum L2 scaling ecosystem with Polygon PoS, zkEVM, and Polygon Miden — competing high-throughput EVM-compatible infrastructure for gaming and Web3 applications targeted by Somnia.
Broad incumbents
- Epic Games: Creator of Unreal Engine, the dominant 3D engine used by Improbable's Imporium (now Yuga Labs) and metaverse platforms broadly. Incumbent competitor across virtual world creation tooling and a possible MSquared alternative stack.
Emerging players
- Forte (now part of Sequence): Web3 gaming infrastructure platform providing wallet, payment, and tokenization tools — directly integrated with Somnia at launch as an ecosystem partner. Emerging peer in blockchain gaming back-end tooling.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Improbable social profiles
Digital presenceImprobable compliance and trust
Trust signalCompliance1 record
Improbable financial estimates
Financial estimateRevenue estimate
Valuation estimate
Improbable leadership team
Management profileNumber of profiles
Profiles7 records
Improbable subsidiaries and ownership
Company hierarchySubsidiaries9 records
Improbable funding detail
Funding detailFunding overview
Funding rounds7 records
Investors24 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Improbable M&A and investment
M&A and investmentM&A3 records
Investments5 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Improbable
What does Improbable do?
Improbable is a venture builder that creates and grows companies across AI, Web3 and the metaverse, supplying founders with capital, operational support (finance, HR, legal, compliance, go-to-market), and proprietary technology platforms including the MSquared (M²) interoperable metaverse network, the Morpheus distributed-systems technology, and the Somnia high-throughput Layer 1 blockchain. It also licenses these technology platforms directly to enterprises, sports leagues and entertainment brands for branded virtual experiences such as MLB Virtual Ballpark, Otherside (Yuga Labs) and BBC Philharmonic metaverse concerts.
Is Improbable a public or private company?
Improbable is a private company. It is classified as venture growth investor backed and is currently operating.
When was Improbable founded?
Improbable was founded in 2012. It employs 101 to 250 people.
Where is Improbable based?
Improbable is headquartered in London, United Kingdom, in the Europe region.
How does Improbable make money?
Six revenue lines are on record. Venture Building — Equity Stakes are the primary driver. The others are technology Licensing — MSquared & Morpheus, branded Virtual Experiences — MLB and Partners, somnia Blockchain — Transaction & Gas Fees, venture Exits — Divestitures and Sales and ongoing Technology License — Imporium/Yuga Labs.
Who are Improbable's main competitors?
Direct peers on record are Roblox Corporation, MultiversX (formerly Elrond), Animoca Brands, Decentraland, Unity Software, Yuga Labs, The Sandbox and Polygon Labs. Epic Games is listed as a broad incumbent. Forte (now part of Sequence) is listed as an emerging player.
Does Improbable have an API?
No public API is recorded for Improbable.
What industry is Improbable in?
Improbable's product category is Metaverse Infrastructure. Its primary akta.pro industry code is BPAMAKAF, Metaverse & Social Virtual Worlds, with a secondary code of FSAPAGAC, Blockchain Game Studios & Game Development. Its NAICS code is 5132 and its SIC code is 7373.