BLAST raises €12.5M in funding round

Danish tournament organiser BLAST has completed a funding round, raising a total of €12.5 million (£11.1 million).

The round was led by Johan Gedda, CEO and Co-founder of Rocket Software, and Danish investment fund Vækstfonden.

BLAST Funding Round
Photo credit: BLAST

RELATED: Esports agency META raises €1M for continued growth

European venture capital firms Creandum, Heartcore, and Maki – existing investors in the company – rounded out the funding with further investment.

Gedda spoke on the decision to invest in a release: “The opportunity to combine and create a deeper technology stack that will evolve the future of esports is one of the reasons I am pleased to partner with BLAST. I am impressed by their plans and look forward to leveraging my experience in the technology space to help grow this exciting and fast-moving business.”

RELATED: Raven raises $1.4 million in seed funding round

The circumstances created by the ongoing COVID-19 pandemic haven’t stopped BLAST from continuing to serve the Counter-Strike: Global Offensive community, devising online tournament BLAST Rising in April. The company announced its entry into Dota 2 earlier this month through BLAST Bounty Hunt, an online tournament with the involvement of multiple prominent teams.

Erik Balck Sørensen, Partner of Vækstfonden, also commented: “We have watched the leadership position taken by BLAST across the esports industry in Europe and beyond, and we are proud to support a European growth company as it moves to its next stage.”

Esports Insider says: BLAST has seemingly gone from strength to strength following its parting with Astralis Group, where both companies were housed under RFRSH Entertainment. It has done a great job in creating new events and original content programming during tough circumstances, so we’re intrigued to see what’s next, especially with significant backing such as this.

Read The Esports Journal