Esports startup FaceIt raises $15m in Series A funding round

UK based esports startup FaceIt has raised $15m (£10.4m) in funding and has announced its expansion into the US by opening an office in Los Angeles.

The company, which was funded in 2012, boasts over 3.5 million users on its multiplayer gaming platform. It allows players to take part in tournaments and leagues for prizes via automated tournament management and matchmaking. FaceIt has worked with significant players in the esports world recently including the likes of Twitch, Turner Broadcasting and WME/IMG.

Investors Anthos Capital, Index Ventures and United Ventures took part in the Series A round of funding which followed a $2 million (£1.39m) seed round led by United Ventures in 2015. Index Ventures Partner Ben Holmes said: “FaceIt has proven an ability to build mutually successful partnerships with game publishers, major media companies and other industry leaders.”

Niccolo Maisto, FaceIt
Niccolo Maisto, FaceIt

Niccolo Maisto, Founder and CEO of FaceIt, announced the investment and stated: “With this round of funding, we will be able to further our three-pronged mission for a competitive gaming platform: a robust competitive community for players and organizers, an easy-to-implement competitive layer for developers, and custom offerings for brands, tied to their products and services.”

A statement by FaceIt noted that its active users engage in over three daily gaming sessions. It also stated that over the coming months, the company will be announcing several additional new game integrations, partnerships, and product features.

 

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