Coffee Stain Studios

What Coffee Stain Studios does

Coffee Stain Studios operates as the flagship game development studio within Coffee Stain Group AB, a Swedish publicly listed video game holding company (Coffee Stain Group AB, Karlstad, Sweden, org.nr 559280-0014) that was spun off from Embracer Group and admitted to Nasdaq First North 25 in June 2026. The group develops and publishes video games across multiple wholly-owned studios — Coffee Stain Studios, Coffee Stain North, Coffee Stain Publishing, Ghost Ship Games (Denmark), Lavapotion, Box Dragon, Easy Trigger, Invisible Walls (UK), Tuxedo Labs, and Frame Break — using primarily Unreal Engine for flagship titles such as Satisfactory and Deep Rock Galactic.

The portfolio spans survival (Valheim, developed by Iron Gate Studio and published by Coffee Stain), cooperative shooters (Deep Rock Galactic, Deep Rock Galactic: Rogue Core), factory simulation (Satisfactory, which exited Early Access in September 2024), the Goat Simulator franchise (original, Goat Simulator 3, and Goat Simulator: Remastered), physics-based sandbox (Teardown), and live-ops cooperative RPG (Fellowship with seasonal content). The company runs a dual business model: self-publishing internally developed games and operating Coffee Stain Publishing, which provides development expertise, marketing, and distribution services to external studios under revenue-share or licensing arrangements. Distribution is global and digital-native across Steam, PlayStation, Xbox, and Nintendo Switch, with a notable extension to Nintendo Switch 2 via the Valheim 1.0 release scheduled for September 2026.

The customer base is overwhelmingly B2C individual video game consumers, with a secondary B2B segment of independent game developers seeking publishing support. Games follow a one-time license pricing model, with Early Access programs (Valheim, formerly Satisfactory) used as a community-feedback-driven revenue mechanism across multi-year development cycles. The group is led by founder and CEO Anton Westbergh and serves consumers globally with operating footprints in Sweden, the USA, the UK, Germany, France, and Japan.

Name

Coffee Stain Studios

Legal name

Coffee Stain Group AB

Website

https://coffeestainstudios.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Video Game Development and Publishing

SIC

Services-Motion Picture & Video Tape Production (7812)

akta.pro primary industry

Creator Tools & Production (Overlays, Alerts, Encoding, Editing, Audio) (MPAFAEAC)

Keywords

• Video game development
• Game publishing services
• Multiplayer game design
• Indie game distribution
• Unreal Engine game production

Headquarters

HQ city

Skövde

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Game Sales: Revenue generated from selling developed and published video games across multiple digital distribution platforms including PC (Steam), PlayStation, Xbox, and Nintendo Switch. Includes both initial game purchases and potential expansion/DLC sales.
2. Publishing Services: Coffee Stain Publishing provides game development expertise and distribution services to external developers, taking a share of revenues or licensing fees in exchange for marketing, publishing support, and platform access.
3. Early Access and Full Release Model: Games such as Valheim and Satisfactory launched in Early Access before achieving full 1.0 releases, generating revenue throughout extended development periods while incorporating community feedback.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Coffee Stain Studios develops and publishes video games across PC (Steam) and console platforms (PlayStation, Xbox, Nintendo Switch), spanning survival, cooperative shooter, factory simulation, action, and strategy genres. Through Coffee Stain Publishing, the company additionally provides publishing, marketing and distribution services to external independent game studios and takes a revenue share in return.

Product overview

Coffee Stain Group is a Swedish video game company comprising multiple studios under a publishing umbrella. The portfolio includes flagship titles like Goat Simulator (original, sequel, and remastered), Satisfactory (factory-building simulation), Deep Rock Galactic franchise (cooperative shooter), Valheim (survival game), and various other games. The company operates through a multi-studio model including Coffee Stain Studios, Coffee Stain North, Coffee Stain Publishing, and acquired studios (Ghost Ship Games, Lavapotion, Box Dragon, Easy Trigger, Invisible Walls, Tuxedo Labs, Frame Break). Their publishing division supports external developers in bringing games to market.

Differentiator

Problem solved

Functional benefit

Products and services

• Valheim Viking-themed survival game developed by Iron Gate Studio and published by Coffee Stain, featuring procedurally generated worlds, building mechanics and Norse mythology-themed gameplay. Available across PC and multiple console platforms.
• Deep Rock Galactic Cooperative first-person shooter set in procedurally generated cave systems with dwarven mining crews, supporting 4-player co-op. Developed by Ghost Ship Games and published by Coffee Stain.
• Deep Rock Galactic: Rogue Core Spin-off title set in the Deep Rock Galactic universe, distributed through Coffee Stain's publishing channels.
• Satisfactory Factory-building simulation game in which players explore and build factories on an alien planet with real-time physics and large-scale resource management. Originally developed internally by Coffee Stain Studios.
• Goat Simulator Humorous sandbox game where players control a goat causing chaos in various environments; the original title that established Coffee Stain's reputation.
• Goat Simulator 3 Sequel to Goat Simulator featuring continued chaotic gameplay and new features.
• Goat Simulator: Remastered Remastered version of the original Goat Simulator with improved graphics and content.
• Teardown Physics-based sandbox game with voxel-based destructible environments.
• Huntdown Classic-style run-and-gun platformer with cartoon graphics.
• Huntdown: Overtime Expansion or continuation of Huntdown featuring additional content.
• Fellowship Cooperative RPG with seasonal content updates featuring new heroes and gameplay expansions.
• Songs of Conquest Turn-based strategy game in a fantasy kingdom conquest setting.
• Sanctum Tower defense hybrid game combining FPS and strategy elements; the studio's foundational title.
• Sanctum 2 Sequel to Sanctum with enhanced tower defense gameplay.
• Super Sanctum TD Tower defense game in the Sanctum universe.
• Into the Unwell Game title within the Coffee Stain portfolio.
• As We Descend Game title within the Coffee Stain portfolio.
• Midnight Ghost Hunt Multiplayer game combining ghost hunting mechanics.
• Welcome to Bloxburg Building and simulation game within the Roblox platform.
• A Story About My Uncle First-person platformer adventure game.
• Coffee Stain Publishing Publishing division that provides game development expertise, marketing and distribution support to external independent game developers, taking a share of revenues or licensing fees in return. Publishers titles such as Valheim (Iron Gate Studio) and Deep Rock Galactic (Ghost Ship Games).

Quantifiable outcome

• Multiple million unit-selling titles achieved
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• NasdaqcoreGTM or Marketing Partner · 23 June 2026Nasdaq announced Coffee Stain's entry into the First North 25 index as a spin-off from Embracer Group. The index has returned nearly 2,900 percent since inception in 2015.
• Ghost Ship GamescoreStrategic or Co-development PartnerGhost Ship Games is a Danish game studio known for developing Deep Rock Galactic. The studio was acquired by Embracer Group through Coffee Stain Holding in July 2021 and operates as a subsidiary within the Coffee Stain Group portfolio of studios.
• LavapotionminorStrategic or Co-development PartnerSwedish game studio operating under the Coffee Stain Group umbrella, developing games within the Coffee Stain publishing ecosystem.
• Box DragonminorStrategic or Co-development PartnerSwedish game studio in the Coffee Stain Group portfolio, developing games for publishing through Coffee Stain channels.
• Easy TriggerminorStrategic or Co-development PartnerGame studio operating under Coffee Stain Group, developing games for publication through Coffee Stain's distribution network.
• Invisible WallsminorStrategic or Co-development PartnerUK-based game studio in the Coffee Stain Group portfolio developing games within the company's publishing ecosystem.
• Tuxedo LabsminorStrategic or Co-development PartnerSwedish game studio in the Coffee Stain Group portfolio, developing games for publication through Coffee Stain channels.
• Frame BreakminorStrategic or Co-development PartnerSwedish game studio operating under Coffee Stain Group, developing games within the Coffee Stain publishing ecosystem.
• Iron Gate StudiocoreChannel Partner/ Reseller/ DistributorIron Gate Studio developed Valheim, which Coffee Stain publishes. Iron Gate announced Valheim's full 1.0 release on September 9, 2026, marking the end of Early Access after over five years of development.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Devolver Digital: Independent video game publisher that combines first-party development with third-party publishing of indie and mid-market titles. Devolver's hybrid publisher-developer model and focus on distinctive, niche-targeted games closely mirror Coffee Stain's positioning.
• Team17: UK-listed independent video game publisher and developer known for the Worms franchise and a broad indie publishing catalog. Comparable to Coffee Stain in combining internal IP development with a third-party publishing business across multiple platforms.
• Paradox Interactive: Swedish video game publisher and developer specializing in strategy and simulation titles with strong ongoing DLC and expansion revenue. Highly comparable as a Swedish-headquartered publicly listed game publisher with a portfolio of niche but commercially successful franchises.
• THQ Nordic: Video game publisher and developer with a strong portfolio catalog and emphasis on reviving or extending established IPs. Comparable in its hybrid development-plus-publishing model and catalog-driven strategy across PC and consoles.
• Focus Entertainment: French video game publisher and developer with a diversified portfolio of internally developed and third-party published titles. Comparable in being a publicly listed, multi-genre publisher with both owned IP and external studio partnerships.
• Raw Fury: Swedish-headquartered independent video game publisher focused on distinctive indie and mid-market titles. Closely comparable to Coffee Stain Publishing in geography, indie publishing focus, and developer-services orientation.
• Annapurna Interactive: Independent video game publisher known for distinctive, critically acclaimed indie titles. Comparable as a third-party-focused publisher competing for the same developer talent and player mindshare in the indie/AA segment.
• Curve Digital: Independent video game publisher with a broad catalog of indie titles across PC and consoles. Comparable in its publishing-services orientation and multi-platform distribution strategy.

Broad incumbents

• Embracer Group: Former parent company of Coffee Stain and one of the largest gaming conglomerates globally. Relevant as both Coffee Stain's former parent and a broad incumbent operating across publishing, distribution, and multiple internal studios.

Emerging players

• Modus Games: Independent video game publisher focused on mid-market and indie titles across console and PC. Comparable in third-party publishing model, though smaller in scale and title count than Coffee Stain Publishing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/coffee_stain
• YouTubeyoutube.com/c/coffeestain
• Facebookfacebook.com/coffeestainstudios

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coffee Stain Studios