Investors are putting more cash behind esports tournament operator Matcherinoas questions swirl about how large the professional gaming industry will become.
Seattle-based Matcherino today announced an additional $1.5 million in funding as part of a “Series A-1” round. Galaxy Digital, a new firm that describes itself as a “bridge between the crypto and institutional worlds,” invested in the company for the first time, along with Wells Fargo Strategic Capital. Existing backers including Seven Peaks Ventures, Madrona Venture Group, aXiomatic, and Vulcan Capital also participated in the round.
Matcherino has raised nearly $8 million since launching in 2015; its previous cash infusion was a $2.7 million round this past December. The company’s software enables esports tournament organizers to run competitions between top gamers. The platform also manages player payouts; facilitates e-commerce and virtual item sales; and more.