Challengermode Has Raised $12m For Its Esports Platform

? Venture Funding

• Stockholm-based esports platform Challengermode has raised $12m in a funding round led by Alibaba Group’s investment arm eWTP Innovation Fund, with participation from Telia Ventures, GP Bullhound, Back in Black Capital, and AC Milan striker Zlatan Ibrahimovic — a long-time angel investor of the project

• The funding will support international expansion of the platform, especially in North America

? Previous Seed Round

• Up to date, Challengermode has raised $9.7m of funding

  • In May 2018, Challengermode raised $4m from existing investors: Zlatan Ibrahimovic and PIKvc

  • In February 2017, the company raised $1.3m from several existing angel investors, including Zlatan Ibrahimovic

  • In August 2015, the company raised about $0.7m in a funding round from several angel investors

? Product

• Challengermode is an esports platforms, that allows players to create and participate in tournaments, regardless of their skills and experience

• The platform can be helpful for amateur players, who can win their first tournaments and monetize their hobby

• Challengermode has already collaborated with DreamHack, FIFA, Fnatic Esports Team and such giants like Google, Microsoft, Ericsson and Spotify

SOURCES: THEGAMINGECONOMY, AYO, REPUBLICWORLD