Metafy, the coaching platform that specialises in esports and gaming, has managed to raise $25 million (£18.5 million) through an opening round of funding. Tiger Global Management and Seven Seven Six ventures led the funding round.
After the funding was secured, Metafy announced that it will allocate $1 million of the funds raised to help the esports community by offering to fund a number of local and online tournaments.
The majority of the other funding raised will be spent on further enhancing its esports and gaming coaching offerings.
Similar to NFTs, esports betting and esports merchandising, esports coaching is another industry that has strong links to gaming and esports and like the others, it seems set to undergo a busy period of expansion as gamers seek to get better at the games they play.
What Is Esports Coaching And How Does It Work?
Metafy’s coaching platform works by connecting players of all abilities with any of a number of esports coaches that they have on their books, each specialising in one or more games or esports titles.
Once a customer has been paired up with a coach, the coaches will review the level that the player is currently playing at and help them to improve further.
This is achieved in a number of ways including:
- Analysing and reviewing a players performance to showcase what they did well, what they did wrong and what they should do to improve.
- Live coaching sessions where the coach and player will be one-on-one with the coach giving the player advice on the best strategies and skills.
- Written advice – in cases where a coach and player cannot meet up in real time, a coach will provide written feedback for a player to read and implement.
Of course, coaching is not free and that is how Metafy makes its money.
That cash, along with the funding raised from the reported round of fundraising above, means that the company will likely be able to expand on its roster of coaches, which includes some of the biggest names in esports.
Currently, Metafy offers coaching in games such as League of Legends, Super Smash Bros and VALORANT to name but three and its acquisition of GamersRdy in 2021 meant that it also expanded into Rocket League, Fortnite, and CSGO coaching too.
Exciting news for Metafy. We already bought some ice cream and a glow-in-the-dark wolf but we still have most of this left.
(Very excited for this Community Fund!) https://t.co/sRsbR7xxX0
— Metafy (@TryMetafy) February 1, 2022
It seems that the new funding will be used to further expand the businesses horizons, according to Metafy’s Co-Founder and CEO Josh Fabian.
“In our first year, experts on our platform made over a million dollars using what we’ve built.” He stated.
“We got there by focusing obsessively on product and experience. I couldn’t be more proud of that accomplishment, but the job’s not done. We’re assembling a terrifically talented team of folks to continue building a platform that reaches far beyond coaching.”
Reddit Co-Founder and Founder of Seven Seven Six, Alexis Ohanian was excited at the opportunities available for Metafy going forward.
“It’s too late for me,” stated Ohania wistfully, “I missed the opportunity to be both a pro gamer as well as a pro instructor.”
“But Metafy is absolutely on to something: the future of gaming (and learning) will include an entirely new industry of professional coaching. We’re excited to be investing in a platform that is going to let countless people do what they love for a living.”