Skillz secures $25m in funding
Esports firm believes it now has the potential to bring competitive gaming to over 40 million subscribers worldwide
Skillz, the mobile esports platform backed by owners of the New England Patriots, Milwaukee Bucks, New York Mets and Sacramento Kings, has taken another step to bolster its presence in the space with a series C funding round worth $25 million. The round was led by telecommunications companies Telstra and Liberty Global, which have a combined 40 million subscribers around the world. Sacramento Kings co-owner Andy Miller, Bridge Bank, and existing investors Accomplice and Wildcat Capital all participated in the round as well.
Skillz has hosted over 100 million mobile esports tournaments, and currently hosts more than half a million competitions each day. The company has seen an incredible 50,000% growth in its revenue over the past three years and it crossed the $100 million revenue run-rate threshold earlier this year.
"With our Series B, Skillz partnered with the leaders in sports: the owners of the New England Patriots, Milwaukee Bucks and New York Mets," said Andrew Paradise, CEO and founder of Skillz. "With our Series C, we have partnered with the world's leading media companies in Telstra and Liberty Global. Together we are shaping the future of competition, sports and media."
"This year, the top esport event had more viewers than game seven of the MLB World Series," added Bruce Dines, Vice President at Liberty Global Ventures. "It is important for Liberty Global to progressively support new forms of entertainment and content. We're excited to be a part of the eSports growth story and particularly excited to collaborate with Skillz in the creation and development of new esports content."