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Esports Players League receives $1 million in funding

Esports Players League receives $1 million in funding

Pro gaming firm the Esports Players League (ESPL) had landed $1m in seed funding.

The round was led by venture capital firm 500 Startups, though there's no word on how much the company chipped in or what other parties invested in the funding.

This round of investment is intended to help ESPL move into ten countries with tournaments and platforms in its first year on the market. The company was founded in 2019.

Growing esports

"We are delighted to have secured this support from the highly-regarded team at 500 Startups, and it serves as a very encouraging endorsement of ESPL’s vision for the future of esports and our achievements to date," ESPL CEO Michael Broda said.

"Our team is committed to delivering esports as mainstream entertainment to the global online gamer community and, in order to achieve this, we require the support of a number of robust global partners. As such, we are very excited to work with 500 Startups and future investees of 500 Startups that are aligned with our esports mission as our relationship continues to evolve."

500 Startups managing partner Khailee Ng added: “Esports is poised to surpass traditional sports. Research suggests that the global esports audience is expected to reach 645 million in 2020, surpassing baseball, rugby, and American football. ESPL's founding team has seen and been part of esports' growth.

"As with sports, it is inevitable that players in all countries and levels demand avenues to compete, participate and watch. We've reviewed many esports business models and found this team and their vision most compelling. We look forward to supporting them in their global journey."

Last month, LVP published a guest column looking at why investors do not understand the opportunity provided by esports.

This story originally appeared on PCGamesInsider.biz.


Staff Writer

A freelance writer based in Berkshire. Besides PG and PCGI she has written as a guides writer, specialising in RPG's and horror.

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