PandaScore, a French startup focused on artificial intelligence-driven statistics and odds data, announced today that it has raised €5M (£4.55 million) in a Series A funding round.
The round was led by French VC firm Serena alongside esports and gaming investment firm and Team Liquid owner, aXiomatic Gaming. VC firms Alven and KB Partners also participated.
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Flavien Guillocheau, Founder and CEO of PandaScore, commented in a release: “Esports’ explosive growth is dependent on better data. Better data lets media companies broadcast more engaging content, bookmakers offer better esports products, and teams and tournaments capture more lucrative sponsoring money. Data is the fuel that powers the esports community and we’re proud to be supplying that fuel.”
PandaScore’s AI-fueled platform collects real-time data from esports competitions and filters out the most relevant data for customers, whether it’s broadcasters or betting providers. The firm’s clients include PSG Esports, Strafe, Sleeper, and BetCris.
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According to a release, the company will use the Series A funding to build out its team and expand its data services into additional games. PandaScore previously raised a $2.8 million (then £2.1 million) seed round in July 2017 that was led by Alven.
Olivier Martret, Principal at Serena, added: “The COVID-19 pandemic highlighted a significant lack of resilience among traditional bookmakers, who really need to increase their agility. And this is where Pandascore can help. At Serena, we are convinced that PandaScore’s tech is a key asset both for traditional bookmakers, enabling them to gain new market shares, and for newcomers in the bookmaker industry, offering them an unfair advantage to provide efficient and reliable services.”
Esports Insider says: Data is a rapidly-growing sector of the esports industry, and there are many companies jostling for a larger piece of the pie. Along with the funding from all four firms here, aXiomatic is an especially well-connected ally for PandaScore to bring into the fold.