- Esports organization Metafy raises $25 million in Series A funding round
- It has promised to invest at least $1 million in local tournaments
- This marks a rapid rise in the company’s capital and operations
Metafy, the esports and gaming coaching platform, managed to raise $25 million in a Series A funding round.
Metafy Raises $25m
With the continuing rise of esports popularity and its surrounding industries, companies are popping up focused on coaching professional players. One of these is Metafy, led by Tiger Global Management and Seven Six Ventures, the venture capital company created by Reddit Co-founder Alexis Ohanian.
The company managed to raise over $25 million in a Series A funding round. The company has stated it will dedicate $1 million of the sum to the community by funding local and online tournaments.
Metafy’s main goal is to connect players to coaches, who help the former improve their game by reviewing replays, one-on-one live coaching sessions, and written advice. The company currently provides services for major competitive titles like League of Legends, Super Smash Bros, VALORANT, and many others.
Metafy is Growing Rapidly
Co-Founder and CEO of Metafy Josh Fabian said that just in their first year of operation, its experts managed to gain over a million dollars. “We got there by focusing obsessively on product and experience. I couldn’t be more proud of that accomplishment, but the job’s not done,” Fabian said. He also added that the company is assembling a very talented team to build a platform that branches out from coaching alone.
“It’s too late for me — I missed the opportunity to both be a pro gamer as well as a pro instructor,” said Founder of Seven Seven Six Alexis Ohanian. “But Metafy is absolutely on to something: the future of gaming (and learning) will include an entirely new industry of professional coaching. We’re excited to be investing in a platform that’s going to let countless people do what they love for a living,” he added.
More and more companies are trying to grab a bite of the growing esports scene, offering coaching as part of their services. But one thing that singles out Metafy is that this Series A round is the largest investment made into a startup specifically focused on esports coaching.
This is not Metafy’s first venture into large capital. The company partnered with CSL Esports back in October, so it is safe to say Metafy has a lot of experience in dealing with large sums. It remains to be seen in what kind of tournaments the company will invest the promised $1 million.
