Generation Esports closes $10.8m Series A funding round

North American esports organisation and competitive platform Generation Esports has announced it has closed its latest Series A funding round with a total of $10.8m (∼£7.83m) secured.

The funding raised will be used to support the organisation’s community and student esports initiatives.

Image credit: Generation Esports

RELATED: High School Esports League launches Generation Esports

The funding round was led by early-stage technology company investor Altos Ventures, with FJ Labs also taking part alongside other unnamed entities. 

Mason Mullenioux, Co-Founder and CEO of Generation Esports, commented on the funding round: “We are thankful to Altos Ventures, FJ Labs, and additional investors and sponsors for supporting our ability to improve our industry-leading competitive esports platform. Together, they form a solid foundation that further enables us to roll out enhanced league features. The additional resources will allow our high school and middle school esports leagues to expand their respective scholastic programs that more than 140,000 student members across all fifty states have enjoyed over the last nine years.”

Generation Esports is largely known for the High School Esports League, one of the longest-standing collegiate esports leagues for students in North America, Australia, and New Zealand.

RELATED: Epic Games closes $1bn funding round led by Sony

As well as announcing its funding total, Generation Esports also revealed that IntelASUS, and the Army National Guard will continue to support the organisation and its leagues through ‘2021 and beyond’.

Dillon Krasnigor, a member of the Altos Ventures Investment Team, spoke on the round: “We are excited to invest in and help GenE build a global esports platform enabling anyone from young students to adults to compete and participate in online gameplay around the world.

“We believe the company is well-positioned to positively impact the esports industry and further demonstrate the educational benefits of competitive video gaming.”

Esports Insider says: Thanks to the funding raised, Generation Esports has acquired the means to expand its existing projects, along with the ability to create new ventures, as the company looks to grow exponentially.

Sign up to our ESI Dispatch Newsletter

About Esportsreporter.com

About Esportsreporter.com:  A leading news channel for all things eSports and gaming. Publishing the most relevant breaking news for esports and gaming including coverage of industry trends and guides on the business of eSports and gaming for investors and aspiring eSports and gaming professionals.

Esportsreporter.com is a wholly owned subsidiary of Appsoft Technologies, Inc. (OTC:ASFT) a publicly traded development stage company aspiring to be a leading contender in the esports, gaming and mobile apps industry.

Appsoft Technologies, Inc.

Safe Harbor Statement

This communication may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as “may,” “expects,” “believes,” “anticipates,” “intends,” “projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such  assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.

Other Articles

Leave a Reply