Originally published at: Esports One Raises $4 Million in New Funding
Back in January of this year, we launched Esports One to the world, offering users an opportunity to play League of Legends fantasy esports in a way they never could before. We put in more hours than we could count to make the platform something we thought people would really love, but we didn’t realize just how well it would be received. Honestly, the passion we’ve seen for our creation, and the feedback we’ve received from members of the community have been beyond our expectations.
2020 has been an unusual year, to say the least, for all of us. None of us can overlook the challenges we’ve faced, so there were mixed emotions as we dealt with stay-at-home orders, but at the same time saw incredible growth on the platform. Since the 2020 League of Legends Spring Split alone, Esports One saw a 300% increase in platform users along with a growth rate above 25% month-over-month.
As we head toward a new year, and a new season of fantasy esports, we’re excited to share our plans for the future, driven by $4 million in new funding from XSeed Capital, Eniac Ventures, and Chestnut Street Ventures. We’re thrilled to have these leading investors as part of the E1 family. They share our vision for what the future of fantasy esports can be, and are committed to helping us bring that vision to life.
With the funds, we’re developing new fantasy esports games for titles like Rainbow Six: Siege, Rocket League, Valorant, and Fortnite. We’re also developing the core product to best meet the needs of fantasy esports fans with new features and tools, including virtual currency to be used to enter new contests, buy customizations and earn prizes, as well as mobile apps for both iOS and Android.
Expanding the Fantasy Esports Ecosystem
While League of Legends was a natural entry point to fantasy esports – it is the most popular esports game after all – we always had visions of something bigger. Adding more game titles and developing partnerships with esports leagues, such as the Northern League of Legends Championship (NLC), will help us create an experience that is deeper and richer than what users have seen to date.
As gamers ourselves, we understand what drives our users. Competition, bragging rights, status – these are the coins of the virtual realm and we’re continually making refinements and improvements to our platform so that our users can share their successes, display their individuality and yes, even brag a little. Esports One will always be a place where everyone is welcome, and we want to give all users an opportunity to make it feel like home by giving them the ability to customize the experience.
To A Bigger, Better 2021
I still remember that day back in January when we “opened the doors” and hoped people would come in and give us a try. It was an exciting time, but I’d be lying if I said I wasn’t a little bit nervous. Now, after successful Spring and Summer Splits, and a Worlds which saw some of our biggest daily gains in users, I’m looking forward to 2021 with real excitement. We’re going to be bringing the same level of care and detail to creating fantasy games for many of the biggest titles in esports, and we’ll be welcoming so many new players thanks to some really exciting partnerships. If you’re already an E1 user, I hope you’ll find these new elements to be all the more reason to stick around, and to our future new users, I’m looking forward to welcoming you to the E1 family!