Sweden-based tournament organiser and platform Epulze has laid off an undisclosed number of employees.
The announcement came directly from the company’s Co-Founder and Chief Strategy Officer Markus Lövgren through a post on his social media page.
In the LinkedIn announcement, Lövgren stated that the company’s decision to let some of the members go was due to organisational restructuring. According to a report by the Esports Advocate, delays in raising additional funds were the primary cause behind the strategic layoffs.
Based in Örebro, Sweden, Epulze is an online competition platform for esports events across the globe. The company runs daily tournaments across a range of games and aims to enable gamers to connect with others and compete for money and prizes.
By also offering broadcasting services, Epulze supports pro-division tournaments, leagues and other esports events. The company’s latest major event was last year’s Dota 2 Bali Major, which was in collaboration with Southeast Asian esports event management solutions company IO Esports. Epulze also hosted Southeast Asia regional leagues for the Dota Pro Circuit and worked with 4D Esports to organise Lima Major 2023, Dota 2’s first Major in South America.
Epulze has raised SEK 17.5m (~£1.41m) in 2019 and SEK 57m (∼£4.74m) in a corporate funding round in 2021. The latter saw participation from Swedish financial group Svea Ekonomi and Norwegian Carucel Finance.
