Mentioned in this article
- Tournament operations platform startup Matcherino has announced a new $1.5M USD investment from Wells Fargo and Galaxy Digital.
- It’s the latest addition to Matcherino’s Series A-1 funding round, which has raised more than $4.1M to date including investments from aXiomatic Gaming and Seven Peaks Ventures.
- Matcherino has worked with brands such as GameStop and EA Sports, and has awarded more than $2.4M to players and teams to date.
Matcherino, a Seattle-based startup that develops software to help tournament organizers operate and fund competitions, has announced a new $1.5M investment.
The latest investment collectively came from Galaxy Digital’s Galaxy EOS VC Fund and Wells Fargo Strategic Capital. It’s the latest addition to Matcherino’s Series A-1 funding round, which previously attracted investors such as aXiomatic Gaming, Seven Peaks Ventures, and Madrona Venture Group.
To date, the Series A-1 round has raised more than $4.1M, bringing Matcherino’s total investment up to more than $7.7M to date. In a release, the company noted plans to scale up the organization to reach more potential players and bring in additional brands.
“Navigating the esports operating landscape has been an inefficient process for brands, players, tournament organizers, and fans alike, leaving billions of unrealized dollars on the table,” said Wells Fargo Strategic Capital vice president of early-stage investing Sean Sang Sub Lee, in a release. “We see an opportunity with Matcherino not only to remedy these inefficiencies, but to open these long-untouched revenue streams for years to come.”
Matcherino helps connect tournament organizers to sponsors and game publishers, offering features including crowdfunding tools for prize pools and prize fulfillment services. The company has worked with such brands as Microsoft, EA Sports, 24 Hour Fitness, and GameStop, with more than $2.4M paid out to players and teams across 6,000+ tournaments to date.
Credit: Source link