Esports entertainment company Ampverse today announced a pre-Series A funding round to accelerate the growth of esports across Southeast Asia, in what was an oversubscribed round.
Ampverse’ investor base includes high-profile investors from across the global gaming, media, technology and finance sectors. This round of investment comes off the back of a successful accelerated growth strategy, which resulted in 150% year-on-year revenue growth for Ampverse, from H1 2019 to H1 2020.
Ampverse’s strategic investors include Robert Gilby, former managing director at Disney Southeast Asia, Axel Wehr, partner at Firestartr and formerly of Bain Capital Private Equity, Alex Khan, group managing director international, Unruly, Matt Sutton, former CEO of ADA, a division of Axiata Group and current entrepreneur-in-residence at INSEAD and David Ng, CEO and founder of goGame.
Further investment has been made from Vulpes Investment Management, an early stage investor in two Singapore-based unicorns PropertyGuru and Trax, via the Vulpes Special Opportunities Fund, launched this year to invest in companies that represent a strong growth opportunity in a post covid-19 world.
Ampverse will use the capital raised in the pre-series A round to drive further regional expansion across Southeast Asia, supported by a 100% headcount increase over the next 12 months, and a programme of M&A investments across local markets. The development of proprietary technology solutions and a bespoke content studio will also be driven by the investment. Video gaming is a growing cultural marker, especially in Southeast Asia which represents the fastest growing gaming market globally, where the vast majority (82%) of the urban online population are gamers (NewZoo).
Founded in 2019, Ampverse works with brands to drive awareness, engagement, consideration and purchase among Gen-Z audiences in the Southeast Asian region. Ampverse’s ecosystem includes a suite of owned-and-operated esports teams, gaming channels, original content programming, publishing assets and merchandise.
Ferdinand Gutierrez, Co-Founder and CEO at Ampverse is bullish about the performance of the esports sector in Southeast Asia. He commented, “The video gaming industry is displaying remarkable potential with vast opportunities for growth in Southeast Asia. We believe that when communities flourish, awesome things happen, and we built the Ampverse brand based on the belief that hyperlocal communities have the power to drive change.
“Looking back, we’ve had a tremendous year, from our expansion into new markets, to acquiring major esports teams, to working with some terrific brands and now attracting the interest of a dynamic pool of investors. And this is only the beginning. We’re excited to continue this momentum, scaling across the region while driving a hyperlocal growth strategy in each market,” he continued.