Ulisses Spiele GmbH

Name

Ulisses Spiele GmbH

Legal name

Ulisses Spiele GmbH

Website

https://ulisses-spiele.de

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Tabletop Role-Playing Game Publishing

NAICS

Book Publishers (51313), Software Publishers (513210), Hobby, Toy, and Game Retailers (45912)

SIC

Books: Publishing Or Publishing & Printing (2731), Retail-Hobby, Toy & Game Shops (5945)

akta.pro primary industry

Full-Service Game Publishers (1st/2nd/3rd-Party Publishing) (MPAFABAA)

akta.pro secondary industries

Game Subscription & Membership Services (BPAMAKAD), Publisher-Owned Direct-to-Consumer Stores (MPAFACAK)

Keywords

• Role-playing game publishing
• Tabletop RPG systems
• Virtual tabletop modules
• Board and card games
• Pen-and-paper adventures

Headquarters

HQ city

Waldems

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Physical Roleplaying Game Products: Sale of physical rulebooks, adventure modules, starter boxes, and sourcebooks for RPG systems. Products include Das Schwarze Auge, Warhammer Fantasy, HeXXen 1733, Pathfinder, and licensed systems. Revenue generated through direct retail and distributor channels.
2. Digital Products and VTT Modules: Sale of PDF rulebooks, digital modules for Foundry VTT and Roll20, and digital-only content through the Ulisses E-Books store and F-Shop digital section.
3. Board Games: Sale of board games including MYTH co-operative fantasy board game, Aventuria adventure card game, and products from Ottavio (board game publisher).
4. Collector's Club Membership: Monthly subscription club providing exclusive products, early access, and collector editions to members through the Collector's Club program.
5. Crowdfunding Campaigns: Revenue generated through crowdfunding platforms like Gamefound for special editions, collector products, and new system launches.
6. Licensing and Brand Partnerships: Licensing of game systems to international partners and distribution of licensed products (e.g., Warhammer, World of Darkness, Dune, Blade Runner, Star Wars) in German-speaking markets.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels9 records

Core offering

Ulisses Spiele publishes pen-and-paper role-playing game systems, board games, and card games for the German-speaking market. Their portfolio combines owned flagship IPs (Das Schwarze Auge, HeXXen 1733) with licensed Western RPG brands (Warhammer, Pathfinder, World of Darkness, Blade Runner, Dune, Fallout, Alien, Cosmere, Delta Green, etc.), delivered as physical rulebooks, adventure modules, starter boxes, and digital VTT/Discord tools for online play.

Product overview

Ulisses Spiele GmbH is a German roleplaying game publisher operating a multi-product portfolio centered on pen-and-paper RPGs, board games, and digital/VTT products. The core offering includes flagship RPG system Das Schwarze Auge (DSA) with its fantasy world of Aventurien (30+ years), horror RPG HeXXen 1733, and numerous licensed products including Warhammer Fantasy, Warhammer 40,000 Imperium Maledictum, Pathfinder 2, Savage Worlds, Delta Green, Blade Runner, Fallout, Dune, and Starfinder. Digital offerings include VTT modules for Foundry VTT and Roll20, the Discord bot 'Das Weiße Auge', and digital downloads through F-Shop and Ulisses E-Books. Additional products include board game MYTH, adventure card game Aventuria, and subscription service Collector's Club. Products are sold through owned e-commerce platforms (F-Shop, Ulisses E-Books) and distributed via third-party platforms including Gamefound for crowdfunding campaigns.

Differentiator

Problem solved

Functional benefit

Brands

• Das Schwarze Auge: The company's flagship pen-and-paper roleplaying game system set in the fantasy world of Aventurien, with over 30 years of history.
• HeXXen 1733
• F-Shop
• Ulisses E-Books

Products and services

• Das Schwarze Auge (DSA) The company's flagship pen-and-paper RPG system set in the fantasy world of Aventurien, with over 30 years of continuous publication and development. Sold as physical rulebooks, starter boxes, adventure modules, and sourcebooks to German-speaking tabletop RPG hobbyists.
• HeXXen 1733 Horror-pulp RPG set in an alternate Baroque Europe (1733 AD) where players hunt monsters such as witches, werewolves, demons and vampires. Sold as physical rulebooks, starter boxes, and adventures in German.
• Pathfinder 2 German edition of Paizo's Pathfinder 2nd Edition fantasy RPG with extensive rule system and adventure support, sold as physical rulebooks and adventures plus VTT adaptations.
• Warhammer Fantasy Rollenspiel RPG set in the Old World of Warhammer Fantasy featuring detailed combat mechanics and percentage-based skill system. Distributed in German under license from Games Workshop.
• Warhammer 40,000: Imperium Maledictum W100-based RPG set in the grim darkness of the Warhammer 40,000 universe, focused on investigations and social encounters in the Macharius Sector. Licensed from Games Workshop / Paradox Interactive.
• Delta Green RPG of cosmic horror where agents work secretly to investigate and combat supernatural threats, many inspired by H.P. Lovecraft's works. Licensed for German publication.
• Blade Runner: Das Rollenspiel Official Blade Runner RPG leading players through Los Angeles as Blade Runners with unique abilities, personalities and memories. Licensed from Alcon Entertainment.
• Fallout: Das Rollenspiel RPG set in the post-apocalyptic wasteland of the Fallout universe, playable as Vault dwellers, Ghouls, Super Mutants or robots. Licensed from Bethesda.
• Alien: Das Rollenspiel RPG set in the Alien universe with tension-focused mechanics for survival horror gameplay. Licensed from 20th Century Studios / Disney.
• Dune: Abenteuer im Imperium RPG set on the desert planet Arrakis from Frank Herbert's Dune universe, focused on spice, politics and survival.
• Starfinder Science-fiction RPG set in the universe of Pathfinder's Golarion world, featuring space travel and advanced technology.
• Earthdawn Fantasy RPG set in a world of legends and stories, with a rich background of adventurers and magical discoveries.
• Torg Eternity RPG of reality-hopping adventure where players face different realities and dangers from multiple cosmologies.
• Savage Worlds Universal fast-paced RPG system used as the basis for various licensed settings including Deadlands and Savage Pathfinder.
• Fabula Ultima Anime-inspired RPG focused on telling heroic stories with special emphasis on climactic moments and emotional storytelling.
• Die Welt der Dunkelheit (World of Darkness) Collection of gothic-punk RPGs including Vampire: Die Maskerade, Werwolf: Die Apokalypse, Jäger: Die Vergeltung and other World of Darkness properties in German.
• Cosmere Rollenspiel RPG based on Brandon Sanderson's Cosmere universe including Stormlight Archive and Mistborn, using a d20 system with plot dice mechanics. Licensed from Brotherwise Games.
• Wilderfeast RPG where players are Weiderer, exiled hunters wielding giant kitchen utensils who gain mutations by consuming monsters they hunt.
• Pendragon Arthurian RPG focused on knights, quests, and the legends of King Arthur set in post-Roman Britain.
• Classic Traveller Re-release of the first science-fiction RPG originally published in 1977 by Marc Miller, featuring character generation as an adventure in itself.
• HeXXen 1733 VTT Virtual Tabletop module for HeXXen 1733 on Foundry VTT containing rules system, character sheets, and adventure modules for online play.
• Das Schwarze Auge VTT Virtual Tabletop modules for Das Schwarze Auge on Foundry VTT and Roll20 platforms, featuring premium modules with illustrated maps, tokens, journal entries, rule extensions, character archetypes, and pre-made adventures.
• Das Weiße Auge (Discord Bot) Discord bot providing access to a rule wiki, over 6,000 game cards, over 30 dice tables, and character management utilities for game masters running Das Schwarze Auge sessions.
• MYTH (Board Game) Fully co-operative fantasy board game where players take on roles of heroes working together to defeat the Darkness using card-based actions.
• Aventuria (Adventure Card Game) Adventure card game set in the world of Das Schwarze Auge with cooperative gameplay and deck-building mechanics.
• Collector's Club Subscription service offering exclusive products, early access, special editions, and limited collector items for dedicated fans through monthly waves.
• F-Shop (Online Store) Primary e-commerce platform for all Ulisses Spiele products including physical books, digital downloads, and VTT modules.
• Ulisses E-Books E-book store for digital editions of roleplaying rulebooks, adventures, and novels, including exclusive digital content through the Digitaler Drachenhort line.

Quantifiable outcome

• Over 30 years of continuous publication for Das Schwarze Auge system
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and major.

• Roll20coreTechnology or IntegrationOfficial publisher presence on Roll20 marketplace (Ulisses Medien and Spiel Distribution) for distribution of VTT modules and systems including Das Schwarze Auge for Roll20.
• Kickstarter/Gamefound (Crowdfunding)coreChannel Partner/ Reseller/ DistributorPartnership with crowdfunding platforms for special editions, collector products, and new system launches including Das Schwarze Auge – Maraskan, Pathfinder 2 expansions, and Pendragon 6th Edition.
• Content Creator NetworkmajorGTM or Marketing PartnerNetwork of content creators including YouTubers, streamers, and podcasters who produce content about Ulisses products. Featured creators include VTTom, SteamTinkerer, Cal Kiernan, Quest and Chaos, RollenspielWelten, HitDice, Story Coven, and Tales off the Script. Supported through Creator of the Month program.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Pegasus Spiele: German-language board game and hobby publisher distributing titles from established designers. Pegasus competes with Ulisses (and its Ottavio board game sub-brand) for the same German-speaking hobby retail shelf space and consumer hobby spend.
• Chaosium: Independent publisher of Call of Cthulhu, RuneQuest, and other horror and mythic RPGs. Chaosium is a comparable dedicated RPG house with a 40+ year catalog, active VTT module strategy, and focus on premium hobbyist customers.
• Cubicle 7: UK-based publisher of Warhammer Fantasy and Lord of the Rings Roleplaying in English (the same Warhammer license Ulisses holds for German markets). Cubicle 7 is a near-direct peer — a mid-sized RPG publisher monetizing premium licensed IPs across rulebooks, adventures, and supplements.
• Free League Publishing: Swedish publisher of The One Ring, Vaesen, Forbidden Lands, Alien, Blade Runner, and Twilight: 2000 RPGs. Free League is a comparable mid-sized European RPG publisher with a strong licensed IP portfolio and significant VTT presence, competing for similar European hobbyist spend and the same pool of premium entertainment licenses.
• Paizo Publishing: Paizo publishes Pathfinder and Starfinder RPGs in English and licenses German-language editions to Ulisses Spiele. Both companies operate as dedicated tabletop RPG publishers with multi-system catalogs, VTT marketplace presence, and recurring adventure and supplement pipelines.

Broad incumbents

• Asmodee: World's largest hobby game publisher controlling Fantasy Flight Games, Edge Entertainment, and numerous board game studios. Asmodee competes with Ulisses for shelf space, retail partnerships, and consumer hobby spend across both RPG and board game segments in Europe.
• Wizards of the Coast (Hasbro): Publisher of Dungeons & Dragons, the dominant Western tabletop RPG. As the market-shaping incumbent, Wizards sets hobby conventions and influences licensing economics that affect mid-sized publishers like Ulisses across both German-speaking and broader European markets.
• Games Workshop: UK-based owner of Warhammer IP and operator of an extensive retail and licensing network. Games Workshop is the licensor of Warhammer Fantasy and Warhammer 40K Imperium Maledictum to Ulisses and a broad incumbent in the miniatures and tabletop RPG space.

Regional players

• Heidelberger Spieleverlag: German publisher of RPGs (including Dungeon Crawl Classics and various licensed German-language editions) and board games. Heidelberger is a regional peer competing in the same DACH hobby retail channel with a similar German-language product mix.
• Schmidt Spiele: Long-established German publisher of family and hobby board and card games. Schmidt Spiele competes for hobby shelf space and gift-occasion consumer spend in the German market where Ulisses operates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/UlissesSpiele
• YouTubeyoutube.com/@UlissesSpieleTV
• Facebookfacebook.com/Ulisses.Spiele
• Instagraminstagram.com/ulissesspiele
• LinkedInlinkedin.com/company/ulisses-spiele

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Ulisses Spiele GmbH