SAN FRANCISCO - (BUSINESS WIRE) - XY Gaming, one of the world's largest global exporting tournament platforms where users compete for cash prizes, today announced at $ 2.5 million USD seed funding round co-led by KB Partners and Varga Capital. XY Gaming organizes asynchronous export tournaments using its proprietary technology, to create a convenient and hassle-free global arena for gamers to compete in some of the world's top games, including League of Legends and Dota 2, with support for Fortnite, Rocket League, CSGO and additional titles coming soon. The company has worked with HyperX, GFuel, PaySafeCards, Sennheiser and Pinnacle, and has hosted more than 16,000 tournaments and 12.5 million games to date, catering to gamers of all skill levels.
"XY Gaming co-founder and CEO Aaron Fletcher said," The majority of the export market has few opportunities to compete for cash prizes. "Through our simple, free, and one-click to enter and play platform, we enable gamers of all skill levels to take their gaming to the next level in a fair and secure environment."
The worldwide gaming market includes 2.5 billion active gamers. XY Gaming creates a space for all gamers that want to play competitively. The company automatically tracks players' in-game statistics and awards based on performance. Payouts are distributed via Paypal, credit cards, or credit for purchases in the marketplace. XY Gaming divides cash money awards between 30-40 percent of the participants in a tournament to increase participation rates and odds of winning.
XY Gaming also offers brands unparalleled engagement and advertising access to its more than 100,000 registered users. The company will be able to improve its advertising by developing a new branded tour and model its advertising.
"Number of brands to show great support for what the current tournament platforms offer and what they are looking for, and I am excited that we are having the capital to grow XY Gaming and create this new marketing that is global, inclusive and scalable, " added Fletcher.
Funds will also be used to expand the team, create marketing campaigns, partnerships and influential sponsors to grow the site, and add new well-known game titles including Fortnite, Apex Legends, and Rocket League.
About XY Gaming
XY Gaming is the world's largest global exporting tournament platform where users compete for cash prizes across games like League of Legends and Dota 2 with support for Fortnite, Rocket League, CSGO and additional titles coming soon. XY Gaming organizes asynchronous export tournaments, automatically monitoring players and awarding scores based on performance to create a competitive and competitive arena for gamers of all skill levels. The company has hosted over 16 thousand tournaments and 12.5 million games to date and has attracted more than 1 million people in a single tournament. The company was co-founded in San Francisco. For more information, please visit www.xygaming.com.
About KB Partners
KB Partners is a suburban Chicago based investment firm focused on early-stage venture capital investments. KB's principals take an active approach in helping to build dominant new enterprises by working in partnership with talented entrepreneurs and experienced managers. The firm is currently investing out of KB Partners Myriad Opportunity Fund, which invests in passionate innovators at the intersection of sports and technology.