Ampverse, a Southeast Asian startup with its fingers in various aspects of the esports industry, announced that it has completed a pre-Series A funding round.
While the company did not disclose the amount of funding raised, it said that the round was oversubscribed and that Ampverse plans to double its headcount over the next 12 months.
Ferdinand Gutierrez, Co-founder and CEO of Ampverse, commented in a release: “The video gaming industry is displaying remarkable potential with vast opportunities for growth in Southeast Asia. We believe that when communities flourish, awesome things happen, and we built the Ampverse brand based on the belief that hyperlocal communities have the power to drive change.”
“Looking back, we’ve had a tremendous year, from our expansion into new markets to acquiring major esports teams, to working with some terrific brands and now attracting the interest of a dynamic pool of investors,” he continued. “And this is only the beginning. We’re excited to continue this momentum, scaling across the region while driving a hyperlocal growth strategy in each market.”
According to a release, the company – which is based in Singapore and Thailand – saw a 150 percent year-over-year revenue increase from the first half of 2019 to the same period in 2020. In addition to doubling its staff size (currently at 36), Ampverse will continue pursuing mergers and acquisitions, develop further original technology, and create a dedicated content creation studio.
Investors in the round include former Disney Southeast Asia Managing Director Robert Gilby, Firestartr partner Axel Wehr, Unruly Group Managing Director International Alex Khan, former ADA CEO Matt Sutton, and goGamefounder and CEO David Ng. Vulpes Investment Management also invested via its Vulpes Special Opportunities Fund that was established in the wake of the rise of the COVID-19 pandemic.
Esports Insider says: Ampverse reminds us a lot of North America’s ReKTGlobal, which owns Rogue and has significant stakes in content and infrastructure as well. That kind of broad approach could serve it well as the SEA region’s esports market continues expanding.