SAN MATEO, Calif., June 9, 2020 /PRNewswire-PRWeb/ -- Today, esports entertainment platform Boom.tv announces an over-subscribed, $10 million Series A funding round led by Bitkraft Esports Ventures. All previous investors from Boom.tv's previous funding rounds participated. In addition to the lead, the company also welcomed Crest Capital and Pole to Win as new commitments. New resources will fuel aggressive investment in enhancing features and formats, the development of premium programming, and focused marketing. In addition to platform expansion, Boom.tv is also committed to expanding its popular professional-amateur series, "Code Red," with an extended calendar of events, larger prize pools, and a sizable investment to its existing roster of top gaming personalities, including exploring the launch of new, celebrity-led tournament franchises.
"Competitive events are the lifeblood of esports," said Sumit Gupta, CEO of Boom.tv. "We're committed to supporting the underserved public of small, community-first organizations who are looking to broadcast their matches and engage a wider audience. It is a huge market opportunity, and we cannot wait to power organizers with the elite features originally reserved for marquee productions like 'Code Red.' We're committed to democratizing the esports event experience."
Since Boom.tv's original funding, the company pivoted toward automating event production and operating competitions in launching 'Code Red.' Since 2018, the platform has partnered with major brands, including Cash App and publishers Epic Games, EA and Activision. "Code Red" has hosted 30+ pro-am series, averaged 2.7M unique viewers per event, and regularly engages an audience of 4 million viewers across social media channels. Code Red" is recognized for its star-studded roster of elite gaming talent including Dr Disrespect, Ninja, Summit1g and Nick Eh 30.
In response to the popularity of "Code Red," Boom.tv was inundated with licensing requests from influencers and esports organizations looking to produce their own competitive events. Boom.tv then opened its platform tools to the public and is applying this new funding to bring top broadcasting tools to the masses.
"Esports at its heart is challenge and competition," said Jens Hilgers, managing partner at BITKRAFT Esports Ventures. "Boom.tv is all about making organized competition in video games universally accessible for every game and sector: influencers, academic clubs, community organizations, gaming cafes and even just a passionate group of friends who choose Boom.tv to produce, broadcast, and track results of esports competitions."
With a health crisis raging in cities across the globe, esports and gaming has recorded a 45% spike (Neilsen, April 2020) in activity during 2020's safer-at-home season. Even as communities begin to recover and economies reopen, fans are demanding competitions that test their home-grown skills and bring the larger gaming community together at the local level. With Boom.tv, these organizations will have production-quality capacity under a simple-to-use interface.
New Series A investors include Bitkraft Esports Ventures, Crest Capital, PTW, Everblue, ImaginationVC, MTG Media Group, WTI, and H. Barton Asset Management. Previous seed investors who also participated in this round include Tandem Capital, First Round Capital, CrossCut Ventures, and Boost VC.
For more information, visit: http://www.boom.tv. Images, graphics, and a sizzle reel available by reaching the press contact above.
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About Boom.tv
Esports entertainment platform, Boom.tv empowers the growing, yet underserved community of content creators, academic programs, and city leagues to organize and broadcast gaming competitions. As the home of the hyper-popular pro-am series "Code Red," the company has opened its marquee production features and tools to the public and is aggressively applying $10M in recent Series A funding to democratizing video game competitions by helping smaller organizations produce big events. Headquartered in Menlo Park, California,, Boom.tv hosts a growing team of 24 employees and is led by CEO Sumit Gupta.
SOURCE Boom.tv
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