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Challengermode Has Raised $12m For Its Esports Platform

EARLY VENTURE | ANNOUNCEMENT DATE: 26 AUG 2020
WRITTEN BY | 26 Aug 2020
Challengermode Has Raised $12m For Its Esports Platform
EARLY VENTURE

💵 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

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M&A
Challengermode
  • Established in 2014

  • Headquarters — Stockholm, Sweden

  • Founded by Philip Skogsberg and Robel Efrem

  • Esports technology company