Esports Tournament Platform XY Gaming Secures $2.5M Seed Investment
U.S. company and global esports tournament platform XY Gaming raised a $2.5M seed funding round co-led by KB Partners and Varga Capital. KB Partners’ portfolio includes data analytics firm MVPIndex, as well as esports community and content platform Upcomer.
XY Gaming runs an esports tournament platform on which users compete for cash prizes across games such as League of Legends and Dota 2. The company organizes esports tournaments, automatically monitoring players’ in-game statistics, and awarding scores based on performance. According to XY Gaming, it has hosted over 16K tournaments and 12.5M games to date, and offers brands engagement and advertising access to its more than 100K registered users.
The company says that it will use the new capital to enhance its advertising offering by developing a new branded tournament model and expanding its advertising vertical, to better enable direct brand engagement. Furthermore, XY Gaming plans to expand its team, create marketing campaigns, partnerships, and influencer sponsorships to grow the site, and add new well-known game titles including Fortnite, Apex Legends, Counter-Strike: Global Offensive, and Rocket League.
“Numerous brands have indicated a great disparity between what current tournament platforms offer and what brands expect, and I am excited that we now have the capital to grow XY Gaming and create this new marketing vertical that is global, inclusive and scalable,” explained XY Gaming Co-Founder and CEO Aaron Fletcher in a release.
Brands XY Gaming has worked with previously include peripheral manufacturer HyperX, esports energy drink brand GFuel, payment service provider paysafecard, audio electronics manufacturer Sennheiser, and bookmaker Pinnacle.
Article Main Source: The Esports Observer