Evolution
Evolution AB is a Swedish B2B gaming technology company based in Stockholm. Founded in 2006, it specializes in developing, producing, marketing, and licensing live casino solutions for online gaming operators. With a workforce of around 22,000, Evolution serves over 800 operator customers, including many tier-1 online operators and land-based casinos. The company is publicly traded on Nasdaq Stockholm under the ticker EVO, with a market capitalization exceeding EUR 24 billion. Evolution offers a wide range of products, including live casino games like roulette, blackjack, and baccarat, as wel
Investing activity
Evolution appears in 1 AI deal tracked by the AI Lounge deals desk, rounds totalling $115M. The rounds are mostly Series D, with a median round size of $115M. The most recent is Clay (Series D, $115M, Sep 2026).
Evolution most often invests alongside Wellington Management, CapitalG, Sequoia Capital and StepStone Group, and the companies it backs on AI Lounge are mostly in Data Collection and Labeling.
Deals
Frequently asked questions about Evolution
What AI companies has Evolution invested in?
Evolution's AI investments include Clay. The 1 round on AI Lounge are listed on this page with amounts, dates and co-investors.
Where is Evolution based?
Evolution is based in Birkirkara, Malta.
What stage does Evolution invest at?
In the rounds tracked on AI Lounge, Evolution has invested at Series D, with a median round of $115M.
Who does Evolution co-invest with?
Evolution's most frequent co-investors on AI Lounge are Wellington Management (1 deal), CapitalG (1 deal), Sequoia Capital (1 deal), StepStone Group (1 deal) and boldstart ventures (1 deal).
How can founders reach Evolution?
Founders on AI Lounge can see Evolution's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Evolution to their Investor Pipeline to track the conversation.