Source Technology
Source Technology is a Beijing-based private developer of consumer VR/AR software for head-mounted displays, shipping the Party Animals game on Steam and the Skybox VR video player, with revenue from one-time software licenses and entertainment services.
- Company typePrivate
- Founded2016
- HeadquartersBeijing, China
- Headcount1–10
- GTM typeB2C
- OfferingSoftware
What Source Technology does
Source Technology is a Beijing-based private developer of consumer-facing virtual and augmented reality software for head-mounted displays. The company builds on Unity and Unreal engines to deliver VR/AR applications targeting daily-use scenarios rather than enterprise deployments, with a technical stack centered on real-time graphics rendering, cross-platform C++ engineering (Windows, Android, iOS), and proprietary video codec work focused on compressing 4K-8K VR content for network delivery. Its two flagship products are Party Animals, a multiplayer VR/AR party game distributed through the Steam global marketplace, and Skybox, a companion VR video player for immersive high-resolution HMD playback.
The business operates on a product-led growth model with revenue generated primarily through one-time software licenses on Steam and transaction-based entertainment services spanning electronic games, online gaming, VR gaming, contests, and gaming tournaments. Distribution is concentrated on Steam for Party Animals and a self-serve download portal for Skybox, supplemented by community engagement on Facebook, Reddit, and Twitter. The company has raised approximately $3.24M across three rounds (2016 seed from Alpha Startups and Smartisan, 2017 Series 1 from ZhenFund, and 2018 Series 2 led by UnityVC) but has not disclosed a new round since April 2018. Headcount is reported at 1-10 employees with eight open Beijing-based roles, suggesting active but constrained scaling. The company is privately held with no disclosed institutional ownership beyond early-stage investors and no parent company.
Source Technology firmographics
Firmographics- Name
- Source Technology
- Legal name
- Source Technology
- Website
- https://sourcetech.xyz
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Source Technology is a Beijing-based private developer of consumer VR/AR software for head-mounted displays, shipping the Party Animals game on Steam and the Skybox VR video player, with revenue from one-time software licenses and entertainment services.
- Ownership category
- akta.pro rank
Source Technology industry classification
Industry- Product category
- VR/AR Software Development
- NAICS
- Motion Picture and Video Industries (5121)
- SIC
- Services-Miscellaneous Amusement & Recreation (7990)
- akta.pro primary industry
- VR/AR/XR Game Studios (MPAFAAAE)
- akta.pro secondary industry
- VR/AR Gaming Platforms (BPAMAKAG)
Keywords
Where Source Technology is headquartered
LocationHeadquarters
- HQ city
- Beijing
- HQ country
- China
- HQ region
- Asia
Offices1 record
Markets served
Source Technology business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- VR/AR Software Products: Revenue generated from developing and selling VR and AR software applications. Products include Party Animals (available on Steam) and Skybox application.
- Entertainment Services: Various entertainment services including electronic games, online gaming, virtual reality gaming, and gaming tournaments
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
Source Technology product offering
Product offeringCore offering
Source Technology develops VR and AR applications for head-mounted displays (HMDs), with a stated mission to create daily-use HMD software. The company's product portfolio includes Party Animals, a multiplayer VR party game distributed via Steam, and Skybox, a VR video player for immersive high-resolution content playback. The offering is complemented by entertainment services spanning electronic games, online gaming, virtual reality gaming, contests, and gaming tournaments.
Product overview
Source Technology is a company focused on VR and AR application development, with a mission to create HMD (Head-Mounted Display) software for daily use. The company offers two primary products: Party Animals (a VR/AR multiplayer party game distributed via Steam) and Skybox (a VR video player for immersive content playback). The product portfolio is complemented by a range of entertainment services spanning electronic games, live performances, contests, online gaming, gaming tournaments, virtual reality gaming, and entertainment information platforms.
Differentiator
Problem solved
Functional benefit
Brands
- PartyAnimals: VR/AR gaming product referenced as a product offering with a Steam store link (https://store.steampowered.com/app/1260320/_/)
- Skybox
Products and services
- Party Animals A VR/AR entertainment game available on Steam, featuring multiplayer party-style gameplay with virtual characters, designed for individual consumers seeking immersive social gaming experiences on head-mounted displays.
- Skybox A VR video player application designed for immersive video playback on head-mounted displays, supporting high-resolution VR content for individual consumers.
- Entertainment Services A suite of entertainment services including electronic games, live musical performances, contests, online gaming, gaming tournaments, game organization, entertainment information, and virtual reality gaming experiences, targeted at individual consumers seeking immersive entertainment.
Companies that use Source Technology
Customer profileSegments1 record
Ideal customer profiles1 record
Source Technology technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Source Technology partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Valve Corporation (Steam)coreSteam platform distribution partnership for VR/AR products including Party Animals game. The partnership provides digital distribution, platform hosting, and access to Steam's VR user base.
Recent moves6 records
Expansion highlights4 records
Source Technology competitors and assessment
Company assessmentDirect peers
- Polyarc: Bellevue-based developer of Moss and Moss: Book II, both flagship VR titles on Steam and Quest. Comparable as a small, technically focused VR-first game studio with a content catalogue leveraged through platform partnerships.
- Resolution Games: Stockholm-based VR-native game studio behind Demeo, Angry Birds VR, and Blaston. Closely comparable as a multi-title VR game studio with cross-platform releases and a similar small-team, content-led model.
- Beat Games: Czech VR game studio behind Beat Saber, the highest-revenue VR game to date and the canonical example of a small VR-only studio scaling globally before acquisition by Meta. Directly comparable as a small specialist VR/AR game developer whose success hinged on a single hit title plus platform relationships.
- nDreams: UK-based VR game studio and publisher with multiple titles on Steam and Quest. Comparable as a mid-sized VR-native multi-product studio pursuing both first-party development and publishing deals — the scaling version of Source Technology's stated model.
- Owlchemy Labs: Austin-based VR studio and developer of Vacation Simulator and Job Simulator, owned by Google's Alphabet. Directly comparable as a multi-title VR/AR game studio serving Steam and Quest with cross-platform expertise.
- Vertigo Games: Rotterdam-based VR-native publisher and developer (Arizona Sunshine, After the Fall). Comparable as a VR-first game studio/publisher with multi-platform Steam distribution and a small-to-mid headcount operating model.
Broad incumbents
- NetEase Games: Major Chinese games publisher with growing VR/AR investments and PC/console publishing muscle. Comparable as the dominant China-headquartered gaming platform with VR/AR ambitions that represent both a ceiling on indie VR share and a potential acquirer for a Beijing-based VR-native studio like Source Technology.
- Schell Games: Pittsburgh-based studio spanning VR/AR (Until You Fall, I Expect You To Die) and broader games. Comparable as an established VR/AR developer with multi-platform build capability and educational/entertainment verticals, but operating at meaningfully larger scale.
Emerging players
- Ready Player Me: Cross-platform avatar platform used by VR/AR apps and games. Comparable as an enabling layer in the VR content stack — adjacent to Source Technology's Skybox-on-Steam model — rather than as a direct competitor, but useful proxy for valuation in the cross-platform VR tooling segment.
- Fast Travel Games: Stockholm-based VR studio/publisher (Wraith: The Oblivion - Afterlife, Cities VR). Comparable as a smaller emerging VR-first developer with a similar content+utility/post-launch cadence on Steam and Quest.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights5 records
Customer concentration
Source Technology social profiles
Digital presenceSource Technology financial estimates
Financial estimateRevenue estimate
Valuation estimate
Source Technology leadership team
Management profileNumber of profiles
Profiles3 records
Source Technology funding detail
Funding detailFunding overview
Funding rounds3 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Source Technology M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Source Technology
What does Source Technology do?
Source Technology develops VR and AR applications for head-mounted displays (HMDs), with a stated mission to create daily-use HMD software. The company's product portfolio includes Party Animals, a multiplayer VR party game distributed via Steam, and Skybox, a VR video player for immersive high-resolution content playback. The offering is complemented by entertainment services spanning electronic games, online gaming, virtual reality gaming, contests, and gaming tournaments.
Is Source Technology a public or private company?
Source Technology is a private company. It is classified as venture growth investor backed and is currently operating.
When was Source Technology founded?
Source Technology was founded in 2016. It employs 1 to 10 people.
Where is Source Technology based?
Source Technology is headquartered in Beijing, China, in the Asia region.
How does Source Technology make money?
Two revenue lines are on record. VR/AR Software Products are the primary driver. The others are entertainment Services.
Who are Source Technology's main competitors?
Direct peers on record are Polyarc, Resolution Games, Beat Games, nDreams, Owlchemy Labs and Vertigo Games. Broad incumbents are NetEase Games and Schell Games. Emerging players are Ready Player Me and Fast Travel Games.
Does Source Technology have an API?
No public API is recorded for Source Technology.
What industry is Source Technology in?
Source Technology's product category is VR/AR Software Development. Its primary akta.pro industry code is MPAFAAAE, VR/AR/XR Game Studios, with a secondary code of BPAMAKAG, VR/AR Gaming Platforms. Its NAICS code is 5121 and its SIC code is 7990.