Seattle-based tournament platform Matcherino has raised an additional $1.5 million (£1,233,615) in its Series A-1 funding round.
This round of investment comes from Galaxy Digital’s Galaxy EOS VC Fund and Wells Fargo Strategic Capital.
This round sees the aforementioned investors join the likes of Seven Peaks Ventures, Madrona, aXiomatic, and Vulcan Capital. With this $1.5 million (£1,233,615) raise, Matcherino has now brought in over $4.1 million (£3,371,881) in its A-1 round.
John Maffei, CEO of Matcherino discussed the investment in a release: “Our product offerings provide the tools to connect players, brands, tournament organizers, and even fans, in a way that is advantageous for all parties, both monetarily and in providing a more enjoyable experience for all involved. We are thrilled to be bringing these investors aboard. Matcherino’s full suite of products engaging the esports community is designed to connect industry stakeholders who have been long ignored or underserved.”
At the time of writing, Matcherino has hosted over 6,000 tournaments and plans to grow its business with the new-found capital. The company hosts events on titles such as Apex Legends, Counter-Strike: Global Offensive, Dota 2, Fortnite, League of Legends, Overwatch, PlayerUnknown’s Battlegrounds, and Rocket League.
Sean Sang Sub Lee, Vice President of Early Stage Investing at Wells Fargo Strategic Capital said: “Navigating the esports operating landscape has been an inefficient process for brands, players, tournament organizers, and fans alike, leaving billions of unrealized dollars on the table. We see an opportunity with Matcherino not only to remedy these inefficiencies, but to open these long-untouched revenue streams for years to come.”
Esports Insider says: Matcherino has done a good job in finding some well-known investors from the esports space and beyond, showing that there’s definitely some signs of hope in the platform. The hardest part will be scaling the business up to try and become the most prominent platform in the industry as there’s certainly no shortage of them.