Improbable

Company research

Public company, workplace, funding, and market signals

Updated Aug 16, 2026

Overview

Improbable is a London-based venture builder and software company focused on metaverse, web3, and AI infrastructure. Its core historical product is SpatialOS, a distributed simulation platform for building large-scale virtual worlds; more recently it has emphasized metaverse infrastructure and venture-building partnerships.

Primary product

SpatialOS / metaverse infrastructure platform

Founded

2012

Headquarters

London, United Kingdom

Team size

51-200

Industry

Software Development

Sub-industry

Metaverse infrastructure / distributed simulation / venture builder

Offices

Greater London, United Kingdom

Business model

B2B software

enterprise services

consulting

venture builder

Funding

Stage

growth

Total raised

$854M

Latest round

Corporate Round · Jul 2018

Latest amount

$50M

Venture Round

Oct 2022 · Elrond

$100M

Corporate Round

Apr 2022 · SoftBank and Andreessen Horowitz

$150M

Series B

May 2017 · SoftBank Vision Fund

$502M

Non Equity Assistance

Feb 2016

Series A

Jul 2015 · Horizons Ventures

$30M

People & investors

Leadership

Herman Narula

CEO & Founder

Rob Whitehead

Co-Founder & CTO

Peter Lipka

Co-Founder / COO

Dan Odell

CFO

Lincoln Wallen

CTO

Joe Robinson

Defence and National Security CEO

John Wasilczyk

GM of Games Content

Investors

Work & culture

Public signals emphasize a strong engineering culture, selective hiring, and culture protection through extensive interviewing. The company describes itself as a venture builder working on frontier ecosystems.

Compensation

No explicit public compensation policy found in primary sources; active hiring indicates roles across engineering, finance, and product, but salary bands were not consistently published on the company site.

Product & market

Pricing

Enterprise / custom contracts; likely project- and partnership-based pricing rather than self-serve pricing.

Differentiators

—Distributed simulation technology for very large virtual worlds
—Venture-builder model combining company building and software
—Proven enterprise and public-sector deployments
—Open standards and interoperability focus for metaverse networks

Technology

SpatialOS

Unreal Engine

GitHub

Google Analytics

HubSpot

Kubernetes

Docker

React

Python

JavaScript

Customers

Yuga Labs

UK Ministry of Defence

game publishers

brands and agencies

Competitors

Epic Games Unreal ecosystem partners

Unity

NVIDIA Omniverse

Roblox platform infrastructure

other metaverse / simulation platforms

Scale & contact

Estimated revenue

Estimated annual revenue is not reliably public; Exa-derived signal shows no confirmed revenue figure from primary sources, so use caution. Public estimate unavailable.

Estimated monthly visits

16.6K

Traffic estimate as of Jun 2026

Signals & risks

Layoff

Dec 2022

Reportedly planned to cut more than 10% of its 950-person workforce amid a push toward profitability and a restructuring of its defence business.

Source

Other

Jun 2023

Agreed to spin out and sell its defence and national security business to a group of investors led by NOIA Capital; transaction included about 70 engineers and modellers.

Source

Other

Dec 2023

Sold The Multiplayer Group gaming unit to Keywords Studios for £76.5 million ($97.1 million), marking a major portfolio exit and shift toward the venture-builder strategy.

Source

Latest news

Improbable sells Imporium to its long-standing partner, Yuga Labs.

Improbable · Dec 2025

Improbable announced the sale of its Imporium Unreal creative studio and Unreal Creator Platform to Yuga Labs, while retaining a technology license for Otherside support.

Improbable provides update on its venture builder model; blockchain powered by Improbable-developed technology hits $1bn valuation milestone

Improbable · Nov 2025

Company update on FY24, 12 ventures in portfolio, and Somnia reaching a $1B FDV milestone.

Improbable Leverages Improved Financial Profile to Drive Innovation in AI, the Metaverse, and Web3 Through Venture Building

Improbable · Jan 2025

Describes the venture-builder strategy, new ventures launched in 2024, and the company’s improving financial position.

Redefining the Digital Assets Economy: Improbable's MSquared Solves Interoperability

Improbable · Sep 2024

Explains MSquared interoperability, MML, and cross-world digital asset handling in the metaverse stack.