Esports and gaming coaching platform Metafy has raised $25m (~£18.5m) in a Series A funding round.
The round was led by Tiger Global Management and Seven Seven Six ventures, the venture capital company founded by Reddit Co-founder Alexis Ohanian.
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Metafy has stated that it will dedicate $1m (~£815,000) of the round to the community by funding local and online tournaments.
Metafy is a platform that connects players with esports coaches. The coaches help players improve their skills by reviewing replays, one on one live coaching sessions and written advice. The company’s roster of coaches features known names across a number of esports titles including VALORANT, League of Legends, Super Smash Bros, among others. Metafy notably acquired former competitor GamersRdy in 2021.
Josh Fabian, Metafy Co-Founder and CEO, commented: “In our first year, experts on our platform made over a million dollars using what we’ve built. We got there by focusing obsessively on product and experience. I couldn’t be more proud of that accomplishment, but the job’s not done. We’re assembling a terrifyingly talented team of folks to continue building a platform that reaches far beyond coaching.”
Metafy is by no means alone in the esports coaching space. A number of companies have explored coaching in the past, including Kinguin and GGPredict, but Metafy’s Series A round is the largest investment made into a startup specifically focused on esports coaching. Round leader Tiger Global is a company that has previously invested in Facebook, LinkedIn, Coinbase and Spotify.
Alexis Ohanian, Founder of Seven Seven Six, added: “It’s too late for me — I missed the opportunity to both be a pro gamer as well as a pro instructor — but Metafy is absolutely on to something: the future of gaming (and learning) will include an entirely new industry of professional coaching. We’re excited to be investing in a platform that’s going to let countless people do what they love for a living.”
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No exact information regarding future tournaments has been shared. In early 2021, Metafy has secured $3m of seed funding.
Esports Insider says: Metafy has a bright future ahead, with a good cash cushion that is sure to support growth, as well as plans to be more active in the esports space. The investment allows for more coaching staff, more games, and scaling to more markets.