Rokoko Financial Model
Marketplace Startup Financials (Free Excel Download)
Vertically integrated motion-capture platform - hardware suits + SaaS editing software + motion asset marketplace - serving creators, studios, and enterprise verticals.
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About this model
Rokoko is a motion-capture platform serving creators, studios, and enterprise users through hardware suits and sensors, editing software, and a motion-asset marketplace. Its product stack makes motion capture more accessible, from camera-based entry tools through professional body, hand, and face capture.
Revenue comes from hardware with average order value above $3,500, Rokoko Studio subscriptions priced from free to $50 per seat per month, and the Motion Library marketplace. The company had more than 50,000 users across 100-plus countries and 80,000 registered Motion Library users.
The model is a segmented three-statement build. Hardware units, price, COGS, and inventory form one engine; paid seats, ARPU, expansion, and churn build SaaS ARR; marketplace transaction volume adds a third. Product mix, device margin, subscription retention, and marketplace adoption determine consolidated operating leverage.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Rokoko
rokoko.com
How to build a detailed financial model for Rokoko
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Rokoko model - distilled from its pitch deck and publicly available information.
Product & value proposition
Five-layer platform:
- Single-camera motion capture (video app / face app) - accessible, low-cost input.
- High-end hardware motion capture - Smartsuit Pro (body), Smartgloves (hands), Face Capture hardware; 7 patents; AOV $3,500+.
- Rokoko Studio (SaaS) - cloud/desktop motion-data editing, analysis and retargeting. Tiers: Starter (Free) / Plus ($20/mo/seat) / Pro ($50/mo/seat) / Custom.
- Motion Library - asset marketplace; 80,000+ registered users; leading indicator is assets hosted.
- Motion Engine (API) - AI-infused IK/physics/kinematics engine; road-mapped for third-party integration.
Value prop: One-stop-shop replacing fragmented, expensive, professional-grade mocap stacks with an accessible, collaborative, AI-enhanced platform.
Market
Four overlapping addressable markets identified:
- Creative Software Market: $8.38bn, 4.24% CAGR
- Creator Economy Market: $104bn, 35% CAGR
- Metaverse Market (2030): $824bn+, 47.6% CAGR
- Pro Studio Animation (secondary focus): $27bn market in 2022, 15% CAGR
Primary focus = emerging internet creators (Roblox, TikTok, Meta, Snap AR ecosystem). Secondary focus = pro studio animation (Netflix, Disney+, Apple TV+, Hulu). Future verticals: Robotics, Automotive, Health & Life Sciences, Metaverse/Web3, Sports, Safety & Security - internal projects already ongoing.
Revenue model
Three current revenue streams + one road-mapped:
| Stream | Model | Price point |
|---|---|---|
| Hardware (Smartsuit, Smartgloves, Face Capture, Coil Pro, Wireless Sensors) | One-time unit sales | AOV $3,500+ |
| Rokoko Studio SaaS | Seat-based subscription | Free / $20/mo / $50/mo / Custom |
| Motion Library | Marketplace (asset trading) | - |
| Motion Engine API | Usage-based (road-mapped) | - |
| Rokoko Care (health vertical) | B2B SaaS / municipality contracts | - |
Channels: Direct (web), integrations (Maya, Blender, Unity, Unreal), platform partnerships (Roblox, Meta, Snap AR).
Traction & metrics
- 80,000+ registered users on Motion Library
- 50,000+ total users across 100+ countries
- 60–70% of users are solo/one-man-army creators
- 80 employees (60% engineers)
- Founded March 2014
- Rokoko Care: sold to Copenhagen Municipality; dialogue with 8 other municipalities
- Revenue growth charts (slide 12) and ARR growth charts (slide 12): Redacted in deck - specific figures not readable.
- Historical revenue figures in financial projections table (slide 13): Redacted in deck.
Mocap fleet & asset creation projections (road-map, not actuals):
- Mocap systems in market: ~10K (2021) → ~25K (2022) → ~40K (2023) → ~65K (2024)
- User assets created per year: ~15M (2021) → ~25M (2022) → ~45M (2023) → ~90M (2024)
*(These appear to be projections/targets on the chart, not confirmed actuals)*
Enterprise customers include: Airbus, Adobe, Meta, Snap Inc., Yale, Sony, Microsoft, Netflix, Twitch, Disney.
Unit economics
- AOV (hardware): $3,500+
- SaaS seat pricing: $20/mo (Plus), $50/mo (Pro)
Competition / moat
Implied moats from platform narrative:
- Largest fleet of mocap systems → largest motion dataset → ML flywheel advantage
- 7 hardware patents
- Vertically integrated stack (input → editing → output → marketplace) is hard to replicate piecemeal
- Network effects: more users → more assets shared/traded → stronger marketplace
Team & funding ask / use of funds
Management:
- Jakob Balslev - Founder & CEO (MA Film Production)
- Matias Søndergaard - Co-founder & CPO (MSc Economics)
- Mikkel Lucas Overby - COO/CFO (PhD Economics & Strategy)
Board:
- Jess Tropp - Principal, Nordic Capital (PE)
- Stefano Corazza - Head of Roblox Studio
- Brett Bibby - Former CPO of Unity
- Rikke Crosby - CSO of Nordisk Film
Fundraising history:
- 2019: $7M cumulative funding to date; pre-money >$20M; lead: North-East Venture, VF Venture, Kickass Capital
- 2021: Series A $3M; pre-money $40M; lead: VF Venture
- 2022 (current): Strategic round $3M; pre-money $80M
- 2023 (planned): Series B $25M
Recommended financial model
- Archetype + why: Mixed-revenue 3-statement model with hardware + SaaS + marketplace streams. Rokoko is not a pure SaaS (hardware is a material revenue and COGS driver) and not a pure hardware co (SaaS/marketplace are the high-margin recurring layer). The correct approach is a segmented P&L rolling up to a consolidated 3-statement (IS / BS / CFS), with ARR tracked separately as a KPI alongside hardware unit economics.
- Forecast horizon & granularity: 2022–2025 (matching deck horizon), monthly for 2022–2023, quarterly for 2024–2025. Add a 2026 terminal year for valuation.
- Key drivers & assumptions:
*Hardware:*
- Units sold per product line (Smartsuit, Smartgloves, Face Capture, Coil Pro, Wireless Sensors)
- ASP per product: blended AOV $3,500+; per-SKU split
- Hardware COGS %:
- YoY unit growth:
*SaaS (Rokoko Studio):*
- Registered user base growth: 80K+; conversion to paid
- Seat pricing: Free / $20 / $50 / Custom
- Tier mix (Plus vs Pro vs Custom):
- Monthly churn:
- SaaS gross margin:
*Marketplace (Motion Library):*
- Assets hosted (leading indicator)
- Take rate on traded assets:
- Marketplace GMV growth:
*Rokoko Care (health):*
- Municipality contracts: 1 sold (Copenhagen) + 8 in pipeline
- Contract ACV:
*Cost structure (line items visible in blurred table):*
- COGS total (hardware COGS + direct software hosting)
- Other Direct Costs
- Fixed Costs (opex / headcount - 80 employees, 60% engineers)
- Depreciation
- Financial Income/Costs
*Valuation:*
- Pre-money at Series B ask: $80M (current strategic round) → $25M raise implies post-money ~$105M
- EV/ARR exit multiple:
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: Hardware units grow 35% YoY; SaaS conversion 7%; marketplace grows in line with user base; Care wins 3 municipalities by 2023.
- Bull: Metaverse/creator economy tailwind accelerates hardware adoption 60%+ YoY; SaaS conversion 12%; API monetization launches 2024.
- Bear: Macro slowdown hits hardware capex spend; SaaS conversion 4%; marketplace remains pre-revenue; Care pilot stalls.
- Key flex variables: hardware unit volumes, SaaS paid conversion rate, marketplace take rate, Care contract wins, headcount growth pace.
- Required sheets / outputs:
- `Assumptions` - all drivers, scenarios toggle (Base/Bull/Bear via CHOOSE)
- `Hardware` - unit sales by SKU × ASP × COGS build
- `SaaS` - user cohort model, MRR/ARR waterfall, churn
- `Marketplace` - GMV → revenue via take rate
- `Care` - contract pipeline × ACV
- `P&L` - consolidated IS with revenue by segment, gross margin by segment, EBITDA bridge
- `Balance Sheet` - simplified (cash, hardware inventory, AR, deferred revenue)
- `Cash Flow` - operating + investing (capex for hardware R&D) + financing (fundraise schedule)
- `Headcount` - 80 employees growing; split engineering vs. G&A vs. sales
- `KPIs` - ARR, MRR, hardware units in market, assets hosted, registered users, paying seats, NRR
- `Valuation` - EV/ARR and DCF sensitised on ARR growth vs. exit multiple
- `Dashboard` - KPI cards + revenue bridge chart + ARR waterfall
Frequently asked
Is the Rokoko financial model free?+
Yes. The Rokoko model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Rokoko's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
Created by ex-finance professionals
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