raises $25 million in Series A funding round

AI-powered esports tournament platform has raised $25 million (£19.1 million) in its Series A funding round by Intel Capital

The funding coincides with launching of Tourney, an esports tournament web application that enables players to create and operate mobile gaming tournaments through Discord. Series A Funding Round
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Rosen Sharma, CEO of discussed the raise in a release: “AI is the key. In esports today it is difficult to make money unless you are running large professional tournaments and events. Most tournaments run and make money from sponsorships, which exist only for the big events. AI doesn’t need to make money in order to host an event, thus enabling tournaments in communities at any scale so long as people are willing to participate.”

The funding will go towards scaling’s mobile gaming communities through sponsorships, additional plugins, and the further development of its Tourney product.

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Arun Chetty, Managing Director at Intel Capital also commented: “When’s platform crossed 10,000 tournaments in a short period of time, we sensed something big was going on here. As a big supporter of both esports and emerging technologies, Intel is always looking for ways to accelerate adoption of esports. We believe that has a unique vision and technology and with this funding, they can gain a big piece of the esports market segment.”

Esports Insider says: $25 million is not a figure to scoff at, it should help make a sizable push into the tournament platform space. Working within the mobile community is an interesting choice, especially when that particular platform is behind consoles and PCs in the West.

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